Healthcare ... USA
Martin Schrell ... Big Pharma

Martin's Schrell was too greedy ... Pharmaceutical company may yank the rug out from greedy CEO with low-cost generic drug

Burgess COMMENTARY

Peter Burgess

Pharmaceutical company may yank the rug out from greedy CEO with low-cost generic drug

IMAGE Martin Shkreli, pharmaceutical profiteer.

We'll see your $750 per pill and offer a $1 per pill version.

Turning Pharmaceuticals CEO Martin Shkreli has taken a lot of heat over the decision to raise the price of Daraprim, a much-needed drug for patients with weak immune systems, from $13.50 to $750—a 5,000% increase. He loudly and repeatedly defended the price increase, but his defense fell largely on deaf ears. People around the world were outraged and have since used Shkreli and Turning Pharmaceuticals as the poster boy for everything wrong with the American healthcare system. Today another pharmaceutical company appears to be stepping in to supply a generic version of Daraprim at a lower cost than the original:

Imprimis Pharmaceuticals will supply capsules containing the two active ingredients in Daraprim, pyrimethamine and leucovorin, for as little as $99 for a bottle of 100 capsules. The company makes custom drugs for individual patients. Daraprim, a 62-year old drug, is the only approved treatment for a life-threatening parasitic infection. Former hedge fund manager Martin Shkreli's Turing Pharmaceuticals acquired the rights to the drug and jacked up the price from $13.50 to $750 per pill overnight.

Imprimis will work with insurers and others to make its capsules widely available.