Published By : 18 Sep 2015 | Published By : QYRESEARCH
The world of pharmaceuticals saw a gigantic rise in the price of a very old drug that is the standard of care for the treatment of a life-threatening parasitic infectious disease. The immense rise in the price of this 62-year-old drug is seeing protests from specialists in infectious disease.
The drug, called Daraprim, has been acquired by Turing Pharmaceuticals in August this year. Turing Pharmaceuticals is a start-up drug company that is being run by a former manager of a hedge fund. Soon after the acquision, the company has raised the prices of the drug from US$13.50 to US$750, making the annual cost of treatment for some patients in the bracket of hundreds of thousands of dollars.
Analysts are questioning the core reason behind such a dramatic rise in the price of a drug that has been a standard course of treatment for the target disease for the past many years. It is a question whether the new company is doing anything differently that has led to such a mounting price hike.
Such rise in the medicine’s price may force hospitals to move onto other alternative therapies that may or may not have the same efficacy.
Such price rise in the Turing drug is not an isolated example of price rises in a dramatic way in the field of pharmaceuticals. While a lot of attention on the prices of pharmaceuticals is seen on drugs for diseases like cancer, high cholesterol, hepatitis C, a lot of concern is also rising about the high rise in prices of old drugs, some of which are also generic and are used for a larger set of treatments.
Although prices of some drugs have increased dramatically in the past years due to drug shortages, rise in prices of some other drugs has been seen owing to certain business strategies of buying some old neglected drugs and turning them into specialty drugs with immensely high price ranges.