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Sunday, October 25th, 2015

Pharma Bro’s 5,500% Price Hike Gets a Slap in the Face by Competitor Who Will Only Charge $1

Author:     Andrew Emett
Source:     Alternet
Publication Date:     October 23, 2015
 Link: Pharma Bro’s 5,500% Price Hike Gets a Slap in the Face by Competitor Who Will Only Charge $1
Stephan:   Every once in a while I see a story that just makes me say, Bravo. Here's an example. You will remember the first story I did a few weeks back about this wretched man and his greed.
Martin Shkreli

Martin Shkreli

In response to Turing Pharmaceuticals CEO Martin Shkreli raising the price of Daraprim from $13.50 to $750 a pill, a specialty pharmaceutical company announced Thursday that it has created an alternative medication that costs less than a dollar per pill. Due to the fact that many pharmaceutical corporations are drastically increasing drug prices, a new niche in the market has opened for smaller drug companies offering inexpensive medications as viable alternatives.

After acquiring the sole rights to sell Daraprim, former hedge fund manager Martin Shkreli increased the price by 5,500%. Preventing infections in people with weakened immune systems, including AIDS patients and cancer survivors undergoing chemotherapy, Daraprim is a brand-name formulation of the generic drug pyrimethamine.

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On Thursday, Imprimis Pharmaceuticals announced the development of a low-cost alternative to Daraprim that consists of pyrimethamine and leucovorin, which reportedly helps to reverse pyrimethamine’s negative effects on bone marrow.

Imprimis effectively rendered the temporary monopoly on Turing’s Daraprim useless by using the key ingredient pyrimethamine, and reverse […]

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