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Switch to Forum Live View Competitor Undercuts Pharma Bro: Offers Same Cancer Drug for $1 a Pill
2 years ago  ::  Oct 23, 2015 - 3:28AM #1
Merope
Posts: 14,591

A San Diego-based company has announced that it would compete with Martin Shkreli’s Turing Pharmaceuticals by offering the same drug used to help AIDS and cancer patients for $1 a pill, the San Diego Union-Tribune reported.


Imprimis Pharmaceuticals, a compounding-drug firm, said it would begin selling its own version of the generic drug pyrimethamine, which Turing was marketing under the name Daraprim.  Shkreli was roundly criticized last month after his company raised the price for the drug from $13.50 a pill to $750 a pill after acquiring the patent.


The version Imprimis will be selling includes pyrimethamine and another generic drug, leucovorin, which is typically used to help cancer patients going through chemotherapy.  The 2 drugs are the active ingredients in Daraprim.


Mark Baum, Imprimis’ CEO, said his company plans to offer similar compounded drugs soon.


“We are looking at all of these cases where the sole-source generic companies are jacking the price way up,” he told the Associated Press.  “There’ll be many more of these.”


According to Baum, his company’s mix of the two drugs has not been approved by the FDA.  However, both the ingredients themselves and the company’s compounding work have been approved.  The drug can only be sold after being prescribed by a doctor to a specific individual.  The company is selling a bottle of 100 pills for $99 through its website.


Your thoughts?


www.rawstory.com/2015/10/san-diego-compa...

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2 years ago  ::  Oct 23, 2015 - 11:45AM #2
MMarcoe
Posts: 20,907

Oct 23, 2015 -- 3:28AM, Merope wrote:


A San Diego-based company has announced that it would compete with Martin Shkreli’s Turing Pharmaceuticals by offering the same drug used to help AIDS and cancer patients for $1 a pill, the San Diego Union-Tribune reported.


Imprimis Pharmaceuticals, a compounding-drug firm, said it would begin selling its own version of the generic drug pyrimethamine, which Turing was marketing under the name Daraprim.  Shkreli was roundly criticized last month after his company raised the price for the drug from $13.50 a pill to $750 a pill after acquiring the patent.


The version Imprimis will be selling includes pyrimethamine and another generic drug, leucovorin, which is typically used to help cancer patients going through chemotherapy.  The 2 drugs are the active ingredients in Daraprim.


Mark Baum, Imprimis’ CEO, said his company plans to offer similar compounded drugs soon.


“We are looking at all of these cases where the sole-source generic companies are jacking the price way up,” he told the Associated Press.  “There’ll be many more of these.”


According to Baum, his company’s mix of the two drugs has not been approved by the FDA.  However, both the ingredients themselves and the company’s compounding work have been approved.  The drug can only be sold after being prescribed by a doctor to a specific individual.  The company is selling a bottle of 100 pills for $99 through its website.


Your thoughts?


www.rawstory.com/2015/10/san-diego-compa...




Maybe Shkreli should buy Imprimis Pharmaceuticals and jack up the price of its new drug.


Just kidding.


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2. There are three sides to every story: your side, my side, and the truth.
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2 years ago  ::  Oct 23, 2015 - 12:45PM #3
BDboy
Posts: 8,220

Oct 23, 2015 -- 3:28AM, Merope wrote:


A San Diego-based company has announced that it would compete with Martin Shkreli’s Turing Pharmaceuticals by offering the same drug used to help AIDS and cancer patients for $1 a pill, the San Diego Union-Tribune reported.



Your thoughts?


www.rawstory.com/2015/10/san-diego-compa...





>>>>>>>>>> I do not know if they have to pay any royalty or other expenses to anyone.


However if they can pull this off, it will be HUGE win for concept of FREE MARKETS!


It is all good................

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2 years ago  ::  Oct 23, 2015 - 1:23PM #4
Merope
Posts: 14,591

Oct 23, 2015 -- 12:45PM, BDboy wrote:


I do not know if they have to pay any royalty or other expenses to anyone.


However if they can pull this off, it will be HUGE win for concept of FREE MARKETS!


It is all good.



Investors are happy:  Imprimis shares (IMMY) moved up 7% to $6.41 in early trading today.




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2 years ago  ::  Oct 23, 2015 - 3:01PM #5
MMarcoe
Posts: 20,907

Oct 23, 2015 -- 1:23PM, Merope wrote:


Oct 23, 2015 -- 12:45PM, BDboy wrote:


I do not know if they have to pay any royalty or other expenses to anyone.


However if they can pull this off, it will be HUGE win for concept of FREE MARKETS!


It is all good.



Investors are happy:  Imprimis shares (IMMY) moved up 7% to $6.41 in early trading today.







Here's hoping other companies will get the message that this is not only a good thing to do, but it's also good for business.




1. Extremists think that thinking means agreeing with them.
2. There are three sides to every story: your side, my side, and the truth.
3. God is the original nothingness of the universe.
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2 years ago  ::  Oct 24, 2015 - 2:01PM #6
BDboy
Posts: 8,220

Free market in it's truest form is a great concept.


Having said that, I like to remind a little history.


The very first anti-trust law (Anti-monopoly) was passed in 1896. Which in theory will not allow one company or product to control whole market.


However it took until 1982 (Decades later) for At&T to (A monopoly in telecom) until other companies were "Allowed" to participate in the market. A case was filed in 1968 and it was 1982 before court ordered the government to allow MCI to step in.


At &T had a strong lobby which "Influenced the US congress" to look the other way when Americans were forced to pay one of the highest rate for phone calls for decades.



I am well aware of power of Pharma Companies and how they can influence law makers. So I am cautiously optimistic.

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2 years ago  ::  Oct 26, 2015 - 3:20PM #7
Svetlana
Posts: 11,477

I love this, and I'm laughing out loud at Shkreli whining that people are speaking badly of him.  This raises the question of whether he is really so out of touch with reality that he didn't expect any criticsm. Really?  You thought you'd be praised for condemning those poorer patients to death?  Really and truly?  You should seek professional help for that.

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