Turing reneges on drug price cut

The despised ex-hedge funder who raised the price of a life-saving drug for AIDS and cancer patients from $13.50 to $750 a tablet is going back on his promise to reduce the price of the pill – just in time for Thanksgiving.

It’s not clear whether Turing will offer the hospital discount to insurers, although the company said it would provide free samples to some health-care providers and sell smaller bottles of the pills to make them more affordable. Compounding the apparent greediness, and the global outrage it caused, was Shkreli’s obliviousness, at one point even “giving the finger” to his critics.

The boss of a drug company which increased the cost of lifesaving HIV-treating medication by 5,000 per cent has been accused of not honouring a pledge to cut the drug’s price to patients. People most likely to contract the infection are organ transplant and HIV patients – and pregnant women, because it can kill their baby.

HIV Medicine Association chairman Dr Carlos del Rio, called Turing’s changes “just window dressing”.

“A drug’s list price is not the primary factor in determining patient affordability and access”, Nancy Retzlaff, Turing’s Chief Commercial Office, said in a statement.

The price-gauging company said cutting the list price was less important than reducing the cost to hospitals.

A furor over the staggering hike in price by Turing ensued, triggering a number of federal government investigations along with pledges from politicians that the high prices would be reined in.

Imprimis chief executive Mark Baum said Wednesday in an exclusive interview that orders are pouring in for its version of Daraprim from doctors and the company has dispensed more than 2,500 capsules since October 22.

Turing bought the drug in August, when Daraprim was the only option available for patients. The man, an artist, tried to fill a prescription Dinges wrote for Daraprim but was told by his pharmacy that it wasn’t in stock and would cost about $27,000 for a month’s supply.

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