Turing refuses to lower price for drug with the 5000% price hike

But in a press release Nancy Retzlaff, Turing’s chief commercial officer, said: “Drug pricing is one of the most complex parts of the healthcare industry”.

“He was feeling great on Monday” at a checkup, with his symptoms much reduced, Dinges said.

Even a 50 percent cut, to about $375 a pill, is likely to be viewed as too little to offset Turing’s earlier price hike for a decades old drug. The drug is available in Europe for under $1 per pill. “A drug’s list price is not the primary factor in determining patient affordability and access”, Ms Retzlaff said. Turing bought the rights to the drug in August, and promptly raised the price to astronomical levels.

“Mr Shkreli told ABC news in September, “‘We’ve agreed to lower the price of Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit”.

Turing is claiming that it will cut the price of Daraprim by up to 50% for hospitals, but this is merely a token gesture – it can take weeks or months to treat an infection of toxoplasmosis gondii. “Suffice it to say that this announcement doesn’t satisfy anyone”.

Controversial pharmaceutical boss Martin Shkreli has has decided he’s not going to lower the price of his HIV medication after all.

The company is already attempting to defend its decision, noting that it will offer the drug as a $10 co-pay to those with insurance, zero-cost “starter” packs (see above for notes on actual treatment duration), and will sell the pill to hospitals in 30-day bottles to help lower the cost of acquisition. Insurers typically try and negotiate discounts, which can be based on whether there are competing treatments or generics available.

“By providing affordable access for hospitals and reaffirming our commitment that almost all patients will receive Daraprim for $10 or less out-of-pocket per prescription, that’s what we have done”, she added.

The company said it also would continue to participate in federal and state programs such as Medicaid and the Section 340B discount program that offers the drug at $1 per pill for a 100-pill bottle.

It’s not clear from the company’s statement that that discount offered to hospitals and patients would also be given to insurers who pay for the drugs, or whether the hospital discount would apply to supplying the drug for outpatient use.

Rena Conti, PhD, assistant professor of health policy and economics at the University of Chicago Medical Center, said lowering the barriers for entry to these markets for generic companies would increase competition.

A company spokesman declined to comment. More than 60 million people carry the parasite that causes toxoplasmosis, however the vast majority will not require treatment because their immune systems are strong enough.