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Started By
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Turing Pharma still selling AIDS med @750$/pill, but has new competition@1$/pill
Posted on 10/23/15 at 12:04 pm
Posted on 10/23/15 at 12:04 pm
quote:
The Associated Press is reporting that a maker of compounded drugs will begin selling Daraprim, whose price was famously jacked up to $750 per pill by one of history’s greatest assholes, for the whopping price of $0.99 per pill.
I believe the word you’re looking for is LOL. San Diego-based Imprimis Pharmaceuticals Inc., which mixes approved drug ingredients to fill individual patient prescriptions, said Thursday it will supply capsules containing Daraprim’s active ingredients, pyrimethamine and leucovorin, for $99 for a 100-capsule bottle, via its site:www.imprimiscares.com. A 100-capsule bottle of Daraprim from Shkreli’s Turing Pharmaceuticals will only run you $75,000, no big deal.
Imprimis CEO Mark Baum has spotted a niche for his company, undercutting pharmaceutical companies who’ve jacked prices on other generic drugs through the roof. “We are looking at all of these cases where the sole-source generic companies are jacking the price way up,” Baum said in an interview. “There’ll be many more of these” compounded drugs coming in the near future. Hilariously, Shkreli paid $55 million in August for the rights to Daraprim before pulling his price-gouging stunt. And now?
Imprimis, which primarily makes compounded drugs to treat cataracts and urological conditions, will work with health insurers and prescription benefit managers in each state to make its new capsules and other compounded generic medicines widely available, Baum said. “We’re geared up. We’re ready to go as soon as the orders come in,” he said. Today and today only it will be OK to stand up and applaud a goddamn pharmaceutical company.
LINK
Searched, SIAP
9
Posted on 10/23/15 at 12:05 pm to NYNolaguy1
quote:
I believe the word you’re looking for is LOL
Well, that's not really a word, so, no.
Posted on 10/23/15 at 12:07 pm to upgrayedd
I'm all for capitalism but this guy needs to have his nuts put in a vice.
Posted on 10/23/15 at 12:08 pm to upgrayedd
quote:
Well, that's not really a word, so, no.
It was added to the Oxford dictionary as a word a few years ago.
Posted on 10/23/15 at 12:08 pm to NYNolaguy1
Posted on 10/23/15 at 12:08 pm to bamarep
quote:
I'm all for capitalism but this guy needs to have his nuts put in a vice.
Looks like the market adjusted his retarded business plan, so I would say capitalism worked
Posted on 10/23/15 at 12:09 pm to TypoKnig
quote:
It was added to the Oxford dictionary as a word a few years ago.
Seriously?
Posted on 10/23/15 at 12:10 pm to NYNolaguy1
As I understood it, Turning used an FDA loophole to ensure there wasn't another generic available. So probably a lawsuit coming.
Additionally, this proves we don't need Hillary or Bernie to save us from ourselves, the free market seems to have taken care of the issue. What a surprise.
Additionally, this proves we don't need Hillary or Bernie to save us from ourselves, the free market seems to have taken care of the issue. What a surprise.
Posted on 10/23/15 at 12:10 pm to NYNolaguy1
For those that believe in it, here is an instance of the free market taking care of something.
Now, we will see how un free the health care market is when insurance companies refuse to cover the new pill or the fda swoops in because it is a compounded drug.
Now, we will see how un free the health care market is when insurance companies refuse to cover the new pill or the fda swoops in because it is a compounded drug.
Posted on 10/23/15 at 12:12 pm to wutangfinancial
Really want to short that up 12% on this feel good bullshite.
Posted on 10/23/15 at 12:12 pm to wutangfinancial
quote:
Good business model
quote:
Investors applauded the move, driving Imprimis shares (IMMY) up 7% to $6.41 in early trading Friday.
Somebody liked the move
LINK
Posted on 10/23/15 at 12:14 pm to NYNolaguy1
The anti-Shkreli circlejerk is kinda annoying. He raised the price of a drug because drug companies already operate on a loss. This was to fund more research for a better drug. This also provides incentive for a cheaper drug. What he did wasn't necessarily "wrong".
Posted on 10/23/15 at 12:16 pm to ChatRabbit77
Hey, get of here with your logical shite. We like to blindly villify people we don't agree with here.
Posted on 10/23/15 at 12:17 pm to ChatRabbit77
Over the years, I've heard several people say that they believe there is already a cure for things like cancer and aids, but that the money is in the treatment and not the cure so these drugs never see the light of day. I think that's total horseshite,because I don't think people/companies are that evil, plus a hell of a lot of money could be made off the cure too. People believe some outrageous shite.
Posted on 10/23/15 at 12:18 pm to ChatRabbit77
quote:
He raised the price of a drug because drug companies already operate on a loss.
bullshite -- He is gouging. Period.
quote:
This was to fund more research for a better drug.
bullshite
quote:
This also provides incentive for a cheaper drug.
The drug was already $1/pill
quote:
What he did wasn't necessarily "wrong"
bullshite
This post was edited on 10/23/15 at 12:19 pm
Posted on 10/23/15 at 12:19 pm to ChatRabbit77
quote:
What he did wasn't necessarily wrong.
Wrong has so many bad connotations...
I would have used the word justified. He does have a responsibility to his investors though, who might be out 55 million dollars if this encourages anyone else to get in the Daraprim game.
Besides the whole industry hates him for basically encouraging audits of how justified drug prices are at the moment. It's become a presidential election topic exactly because of him, driving down industry wide stocks.
Posted on 10/23/15 at 12:26 pm to NYNolaguy1
I was kind of kidding but it seems like not making a profit is standard for most small cap biotechs. This company will most likely get bought out and the CEO will make bank 
And actually thinking about the idea of competing on price seems like a good idea in theory. R&D expenses would be low because they would be producing drugs that other companies had to develop
And actually thinking about the idea of competing on price seems like a good idea in theory. R&D expenses would be low because they would be producing drugs that other companies had to develop
Posted on 10/23/15 at 12:32 pm to wutangfinancial
quote:
And actually thinking about the idea of competing on price seems like a good idea in theory. R&D expenses would be low because they would be producing drugs that other companies had to develop
Exactly, I read that this is a generic drug that has been around for like 60 years. I mean there should be zero R&D costs.
And the company prob will get bought out. How funny would it be for Turing to try and buy them out just for this- essentially double down on their investment. If nothing else this will encourage other companies to do the same with other drugs that are way overpriced.
Posted on 10/23/15 at 12:33 pm to NYNolaguy1
quote:
It's become a presidential election topic exactly because of him, driving down industry wide stocks.
If only people could realize that this is the perfect example why regulating drug prices is unnecessary. Another example is the pricing war between viekira pak and harvoni. The competition has already put pressure on GILD to lower prices. But maybe that's just me
Posted on 10/23/15 at 12:39 pm to SG_Geaux
quote:
This was to fund more research for a better drug.
bullshite
How? The drug was toxic and had been around for a while. More profits is more money towards research.
Kinda nuts how people don't understand the concept of making money. He bought the company and had every right to raise prices. Simple as that. These drug companies simply cannot make money at how much it costs to make a drug. People who hate Skhreli are the same people who go out and buy Iphones but don't care that they are made in shitty factories in bad conditions at high profit margins. No one complains about Tim Cook.
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