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Turing reneges on drug price cut, rival's version sells well

1 year 1 week 1 day ago November 25, 2015 Nov 25, 2015 Wednesday, November 25 2015 November 25, 2015 2:08 PM in Health
Source: Associated Press
By: Linda A. Johnson

TRENTON, N.J. - After weeks of criticism from patients, doctors and even other drugmakers for hiking a life-saving medicine's price more than fifty-fold, Turing Pharmaceuticals is reneging on its pledge to cut the $750-per-pill price. 

Instead, the small biotech company says it's reducing the price for hospitals by up to 50 percent for its Daraprim, which treats a rare parasitic infection that mainly strikes pregnant women and HIV patients.

The 62-year-old drug had no competition until a furor over the gigantic price hike erupted, triggering multiple government investigations. 

Then a pharmacy that compounds prescription drugs for individual patients stepped in and started selling a capsule version for 99 cents. Imprimis Pharmaceuticals says orders are pouring in from doctors and it says it has dispensed more than 2,500 capsules in barely a month.

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