A PYMNTS Company

US: $750/pill pharma company will not lower drug price

By  |  November 25, 2015

Turing Pharmaceuticals AG will not reverse its decision to raise the price of a decades-old drug, Daraprim, by more than 5,000 percent, backing out of previous statements that it would cut the cost by the end of the year.

In an announcement on Tuesday, the company said that the list price of Daraprim, which jumped from $13.50 a pill to $750 a pill earlier this year, will not change. Instead, the company will offer hospitals up to 50 percent discounts and will make other adjustments to help patients afford Daraprim, a drug used to treat a parasitic infection and often given to HIV patients.

“We pledge that no patient needing Daraprim will ever be denied access,” Nancy Retzlaff, Turing’s chief commercial officer, said in a news release. She added that “drug pricing is one of the most complex parts of the healthcare industry. A drug’s list price is not the primary factor in determining patient affordability and access.”

Full content: Turing Pharmaceuticals

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.