Daraprim will be available at no cost to uninsured income-limited patients

[FrodosPet]

http://www.upi.com/Business_News/2015/11/25/Despite-promise-Turing-pharmaceuticals-opts-to-keep-list-price-of-Daraprim-high/4891448482337/

NEW YORK, Nov. 25 (UPI) -- Despite a promise from its chief executive two months ago, Turing Pharmaceuticals said Wednesday it has decided to keep the price of an anti-infection drug high -- a sustained increase that generated a national outcry among patients this summer.

~ snip ~

"With these new profits, we can spend all of that upside on these patients who sorely need a new drug, in my opinion."

~ snip ~

Also, the company said some insured patients won't pay any more than $10 per prescription and Daraprim will be available at no cost to uninsured income-limited patients -- a move designed to shift the burden of the drug's cost from patients onto insurance companies and taxpayers.

"By providing affordable access for hospitals and reaffirming our commitment that nearly all patients will receive Daraprim for $10 or less out-of-pocket per prescription," Retzlaff added. "That's what we have done."

~ snip ~

How dare they overcharge those poor desperate insurance companies while giving away their medicine to the uninsured for free and $10 copay to people making less than 5 times the poverty line (along with raising capital for developing new drugs)? The horror of it all!

[TexasBushwhacker]

1. I don't think gouging insurance companies is right

either. Those costs get passed on to consumers.

I don't understand the big stink is frankly. You can buy brand name Daraprim, manufactured in Australia, for $2.20 a pill. The generic is $1.20 per pill.

[FrodosPet]

2. If they are a GOOD company which develops safe and useful products, I wish them success

Perhaps someday the government will expropriate all the pharm companies, and provide all the resources needed for top of the line research and development on every drug that can help anyone with any condition.

I don't see it happening. Perhaps, if the masses become "enlightened" and "united" and insist on Trotskyist socialism (unlikely), but I think it is safe to rule that scenario out

So, for now we have a profit driven model for the pharmaceutical industry. Considering they are giving it free or super cheap to most of the people who need it, they should have an option to bring in enough money to pay the bills, conduct both new market and ongoing safety research, and make it worthwhile for talented people to go to work with the tools they need to do a good job.

[suffragette]

3. He bought US rights to Daraprim, then set about gouging US citizens in need,

Right in line with his hedge fund background. The only reason he is changing any of that plan is because of the bad publicity that occurred. This has nothing to do with new research or helping people. It is ALL about profit.

As pointed out above, prices in Australia are still low. Same in UK.
BBC reports price of .66 per pill in UK.

http://www.bbc.com/news/world-us-canada-34320413

Sadly, he is not alone in this vulture behavior and the U.S. system allows it.