That will be an additional $736.50
A former hedge fund manager turned pharmaceutical businessman has purchased the rights to a 62-year-old drug used for treating life-threatening parasitic infections and raised the price overnight from $13.50 per tablet to $750.
Next up: fire departments start charging $100,000 for every house fire they respond to.
Daraprim is used for treating toxoplasmosis — an opportunistic parasitic infection that can cause serious or even life-threatening problems in babies and for people with compromised immune systems like AIDS patients and certain cancer patients — that sold for slightly over $1 a tablet several years ago. Prices have increased as the rights to the drug have been passed from one pharmaceutical company to the next, but nothing like the almost 5,500 percent increase since Shkreli acquired it.
People just need to cure their own toxoplasmosis like responsible adults instead of relying on pharmaceutical investors not to charge extortionate prices.
Frankly, I think pharmaceutical companies should be socialized.
If it is 62 years old how the hell has the patent not expired yet?!?!?
I’m not up to date with so-called intellectual property laws. As I understand it patents in the US originally lasted 12 years as it had been in the UK. Since the beginning of the 20th century, the period has been gradually extended. Also patent law has become incredibly complicated so its often not clear whether something is or is not still in patent.
The drug is out of patent. What has happened in the only manufacturer has granted an exclusive marketing deal to Skreli in the US.
I agree with Samantha – all pharmaceutical and medical services should be publicly-owned and run. They are for the benefit of the population and withholding them can lead to death. To pretend that there is a “market” with “consumers” as if medical care is fucking Pepsi is offensive.
People shouldn’t have to choose between letting a family member die or going bankrupt. It’s insane.
I used to think I was cynical. Now, I dunno. Can you ever be cynical enough?
Interestingly, the same day, an increase to $10,800 for 30 capsules for the TB drug cycloserine, from $500, under similar circumstances (bought by a private firm from a nonprofit) was reversed due to public outrage (the nonprofit has the rights back, and while there’s still going to be something like a 100% price increase, it suddenly looks strangely unalarming), and now pharma shares are tumbling because investors are worried about regulation.
I think we should ease everyone’s anxiety and just @#$%ing regulate them already. And let it never be said blatantly rapacious greed goes unrewarded. And note that the usual ‘pharma research is costly’ arguments hardly fly, here.
I’ll bet when Rand Paul heard about this, he turned green with envy.