Turing Pharmaceuticals reneges on its pledge to cut $750-per-pill price
Weeks after facing criticism from doctors, patients and other drugmakers for increasing the price of a life-saving medicine over five times, Turing Pharmaceuticals has reneged on its promise of cutting the $750-per-pill price.
The small biotech company has instead decided to cut what it charges hospitals for its parasitic infection treatment, Daraprim, by up to 50%. Most of the co-payments by patients will be capped at $10 or less per month, however, insurers are going to be stuck with the bulk of the $750 tab. This will drive up insurance costs and future treatment.
The 62-year-old pill Daraprim’s patent has expired decades ago. The treatment is preferred for an odd parasitic infection, toxoplasmosis, which particularly targets people, having weak immune systems, like HIV and organ transplant patients, and pregnant women, as it can kill the unborn baby.
The move has been taken by Turing after a pharmacy compounding prescription drugs for individual patients, Imprimis Pharmaceuticals, begun the sale of a custom-made version for 99 cents per capsule. However, Chief Marketing Officer of Turing Nancy Retzlaff said that those sales weren’t a factor in the pricing strategy of the biotech company.
The company has mentioned that it would provide the drug for free to uninsured, skilled patients, who have an income at or below 500% of the poverty level under its patient assistance program.
It has also said that it would be contributing to Patient Services Inc., an independent charity, providing financial assistance for Medicare patients. Turing said that the company would take part in federal and state drug discount programs.
In a statement, Retzlaff said, “We pledge that no patient needing Daraprim will ever be denied access”. The chairman of the HIV Medicine Association, Dr. Carlos del Rio has called Turing’s changes ‘just window dressing’.