Last month, Turing Pharmaceuticals angered many when it raised the price of Daraprim, which treats a parasitic infection in malaria and AIDS patients from $13.50 to $750 per pill. Turing Pharmaceuticals is the only manufacturer or Daraprim in the U.S.
But as often happens in free markets, a competitor has found a way to improve on Daraprim and make it cheaper as well. ArsTechnica reports that Imprimis Pharmaceuticals has developed an alternative to Daraprim and will sell it for $99 for a 100 pill supply.
In a press release, Imprimis says that it has compounded the drug pyrimethamine and leucovorin into a low cost alternative to Daraprim. Daraprim is the marketing name of pyrimethamine. The new compounded drug is engineered to be safer for the patient than Daraprim as leucovorin counters the negative effects on bone marrow that pyrimethamine causes.
Imprimis CEO Mark Baum also said in his release that while he respects Turing’s right to charge what they believe is appropriate, he was creating a program to make drugs more easily available and affordable to patients and doctors.
“Today, some drug prices are simply out of control and we believe we may be able to help control costs by offering compounded alternatives to several sole source legacy generic drugs. Imprimis Cares and its team of compounding pharmacists will work with physicians and their patients to ensure they have affordable access to the medicines they need from the over 7,800 generic FDA-approved drugs. Imprimis Cares, available in all 50 states, will work with all third party insurers, pharmacy benefit managers and buying groups to offer its patient specific customizable compounded drug formulations at prices that ensure accessibility and that provide a reasonable profit for Imprimis. We are here to serve our patients and their physicians. We believe that when we do a great job serving our customers, our shareholders will also benefit.”
Turing’s price increase gave Imprimis an opportunity to make a profit by offering a better product at a lower price. Imagine if free markets were given more of an opportunity to work.
The answer to most problems isn’t more government, but more markets and freedom.
AAN Staff
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