A competitor to the company that hiked up the price of an AIDS drug by 5500% has released a $1 version of the tablet.
Martin Shkreli, the 32-year-old founder and chief executive of Turing Pharmaceuticals, came under fire last month after buying the rights to 62-year-old drug Daraprim.
The drug costs less than $1 per tablet to make, and is used to treat conditions including AIDS-related toxoplasmosis.
However, Shkreli last month attempted to dramatically increaser the price of the drug from $13.50 per tablet to $750 – an increase of 5500%.
Now Imprimis Pharmaceuticals, based in San Diego, which mixes approved drug ingredients to make alternate versions of drugs, will supply a Daraprim alternative for $1.
Imprimis said it would combine the active ingredients in Daraprim, and supply a 100-capsule bottle for $99.
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Daraprim is not the only drug which will get a price makeover by Imprimis.
Chief Executive Mark Baum told the Associated Press that other generic drugs which have seen drastic price hikes will also be replicated.
“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.
Shkreli has vowed that Turing Pharmaceuticals would reduce the price of Daraprim, but has not yet done so.
Democratic Presidential hopeful Bernie Sanders recently rejected a donation from Shkreli.