Drug price jumps up 5,000 percent overnight

09/25/2015 // JusticeNewsFlash // (press release)

New York – The price of the drug Daraprim saw a 5,000 overnight increase following the purchase of the rights to the medication by a new company. CBS Money Watch reported that the dramatic spike has prompted protests among advocates and infectious disease doctors.

After the purchase by Turing Pharmaceuticals in August, the price rose from $13.50 to $750 per tablet.

Daraprim is a common name for pyrimethamine, a medication used in the treatment of toxoplasmosis, which is an infection that can lead to birth defects. The drug also is used in the treatment of malaria, some forms of cancer, and HIV infections.

In a letter written to the company asking that the price increase be reconsidered, doctors and advocates stated “Under the current pricing structure, it is estimated that the annual cost of treatment for toxoplasmosis, for the pyrimethamine component alone, will be $336,000 for patients who weigh less than 60 kilograms [132 pounds] and $634,500 for patients who weigh more than 60 kilograms.

“This cost is unjustifiable for the medically vulnerable patient population in need of this medication and unsustainable for the health care system.”

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Source: http://finance.yahoo.com/news/generic-drug-price-increases-5-003500084.html;_ylt=AwrC0wxe1gRWpUoAZmnQtDMD;_ylu=X3oDMTBybGY3bmpvBGNvbG8DYmYxBHBvcwMyBHZ0aWQDBHNlYwNzcg–

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