Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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The Real Reason Big Pharma Wants to Help Pay for Your Prescription

The Real Reason Big Pharma Wants to Help Pay for Your Prescription | Pharmaguy's Insights Into Drug Industry News | Scoop.it
Fueled almost entirely by drugmakers’ contributions, the seven biggest copay charities, which cover scores of diseases, had combined contributions of $1.1 billion in 2014. That’s more than twice the figure in 2010, mirroring the surge in drug prices. For that $1 billion in aid, drug companies “get many billions back” from insurers, says Fugh-Berman.
“Drug companies aren’t contributing hundreds of millions of dollars for altruistic reasons,” says Joel Hay, a professor and founding chair in the department of pharmaceutical economics and policy at the University of Southern California. The charities “don’t ever have to scrounge for money. It falls right to them.” Both Hay and Fugh-Berman have served as paid expert witnesses in lawsuits against drug companies.
When Turing bought Daraprim and sought to boost its annual revenue from $5 million to more than $200 million, the use of patient-aid funds was considered essential, internal company documents show. Last May, as the company did its due diligence before the purchase, one executive warned in an e-mail that new, high copays would force toxoplasmosis patients to seek alternative drugs.
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Yo! #Pharma Bro' - When You Going to Lower Price of Daraprim?

Yo! #Pharma Bro' - When You Going to Lower Price of Daraprim? | Pharmaguy's Insights Into Drug Industry News | Scoop.it

It's been two weeks since Turing CEO Martin Shkreli announced he would scale back the price of his drug, and so far nothing has really changed.

The biotech leader came under fire last month for his 5,000% price hike of Daraprim, a drug that fights parasitic infections.


The drug, which rose from $13.50 to $750 seemingly overnight, left the biotech and pharmaceutical industries reeling, with corporations such as Valeant facing a lot of criticism for their similar price-hike moves.


In September, he told ABC News, “We’ve agreed to lower the price of Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit." 


That hasn't happened yet. A 30-day, 30-pill supply of Daraprim would cost me $27,006 at my local pharmacy.


That boils down to about $900 a pill, which includes the wholesale cost, along with specific pharmacy fees based on the zip code I gave the pharmacy.


So while the price of the drug hasn't gotten any higher since Shkreli hiked it 5,000%, it hasn't gotten any lower since he promised to reduce it either. Turing did not respond to Business Insider's request for clarification about this price.

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