Pharmaceutical CEO Who Raised Drug Price 4,000% Has Yet To Lower The Price As Promised
Turing Pharmaceuticals CEO Martin Shkreli gained worldwide notoriety after it was revealed that his company increased the cost of Daraprim by 4,000% overnight, shortly after buying the rights to the drug. After worldwide outrage, Shkreli eventually caved and announced Turing Pharmaceuticals would lower the price after all.
Today Lindsey Ramsey at Tech Insider reports that the high cost still hasn’t been lowered:
In September, he told ABC News, “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.”
That hasn’t happened yet. A 30-day, 30-pill supply of Daraprim would cost me $27,006 at my local pharmacy.
That boils down to about $900 a pill, which includes the wholesale cost, along with specific pharmacy fees based on the zip code I gave the pharmacy.
So while the price of the drug hasn’t gotten any higher since Shkreli hiked it 5,000%, it hasn’t gotten any lower since he promised to reduce it either. Turing did not respond to Business Insider’s request for clarification about this price.
Meanwhile, Shkreli is still defending the hike on his Twitter account, along with numerous disparaging tweets about Hillary Clinton because she publicly stated her opposition to price-gouging.
Price gouging like this in the specialty drug market is outrageous. Tomorrow I'll lay out a plan to take it on. -H https://t.co/9Z0Aw7aI6h
— Hillary Clinton (@HillaryClinton) September 21, 2015
Latest posts by Jeff Stevens (see all)
- Ben Carson: I’ll turn Department of Education into investigator of professors’ ‘political bias’ - October 28, 2015
- Tea Party Patriots Blast Paul Ryan As ‘Anything But Conservative’ - October 21, 2015
- After five years of investigating, Kansas Secretary of State files three election fraud charges - October 13, 2015