BAM!!- ‘PHARMA BRO’ About To Lose His Shirt As Rival Makes $1 Alternative To His $750 RIPOFF

[Segami]

Turing Pharmaceuticals CEO Martin Shkreli, dubbed “Pharma Bro” by the internet, may have landed himself in a world of sh*t. When his company purchased the drug Daraprim, a 60-year-old generic that was selling for a mere $13.50 per pill, he made an immediate name for himself by upping the price 5000 percent.

His excuse has been that his company was going to come up with a better way to treat the ailment the drug cures, toxoplasmosis, with fewer side effects, He says the increase in price is for research and development. The pill is used widely by AIDS patients, many of whom won’t have access to it anymore, to fight critical infections.

While Shkreli has said he would lower the price, he hasn’t. He has instead engaged in dirty politics, trying to buy time with Bernie Sanders and childish Twitter wars that only serve to make him look stupid. Unfortunately, while Pharma Bro has been taking up space in front of cameras and posturing himself as an internet tough guy, a rival company has come up with an alternative drug to shatter Shkreli’s hopes and dreams. Imprimis Pharmaceuticals, making no bones about why they created an alternative to Daraprim that will cost just under one dollar per pill, released this statement on their website:

Last month, Turing Pharmaceuticals LLC, the sole supplier of Daraprim, increased the price of this prescription drug from $13.50 per tablet to a reported $750.00 per tablet. The FDA-approved label for Daraprim indicates that it is prescribed for toxoplasmosis and other types of infections. Toxoplasmosis can be of major concern for patients with weakened immune systems such as patients with HIV/AIDS, pregnant women and children. According to the Centers for Disease Control and Prevention, pyrimethamine works to block folic acid synthesis in the parasite T. gondii, the cause of toxoplasmosis, and leucovorin helps to reverse the negative effects on bone marrow caused by this mechanism of action.

Imprimis is now offering customizable compounded formulations of pyrimethamine and leucovorin in oral capsules starting as low as $99.00 for a 100 count bottle, or at a cost of under a dollar per capsule. Compounded medications may be appropriate for prescription when a commercially-available medicine does not meet the specific needs of a patient. For ordering information, please visit www.imprimiscares.com.

http://imprimispharma.investorroom.com/2015-10-22-Imprimis-Pharmaceuticals-to-Make-Compounded-and-Customizable-Formulation-of-Pyrimethamine-and-Leucovorin-Available-for-Physicians-to-Prescribe-for-their-Patients-as-an-Alternative-to-Daraprim

Basically what just happened is Martin Shkreli just took the pharmaceutical and business world equivalent to a 92 mile-per-hour fastball to the nuggets. His $750 per pill exclusive just became the second choice of consumers by $749.


http://www.addictinginfo.org/2015/10/22/pharma-bro-about-to-lose-his-shirt-as-rival-makes-1-alternative-to-his-750-ripoff/

[Laf.La.Dem.]

1. WOW - Super good news!!

[mcar]

2. K&R

[lpbk2713]

3. Live by Capitalist rules, die by Capitalist rules.

Poor baby. Wasn't ready for prime time.

[eppur_se_muova]

10. Exactly. Compound's been sold since 1953, patent's expired, easy to make. nt

[Segami]

4. LOL!- .Martin Shkreli....

...just took a 92 mile-per-hour fastball to the nuggets.....

He might need to take some of his own meds.....

[ohheckyeah]

5. Great news. And my message to

Shkreli is LOL at you asshole.

[NightWatcher]

6. Sorry Bro, it's the free market you loved last week

[stopbush]

7. So the wunderkind isn't so wundervoll after all.

Love it.

[smirkymonkey]

8. Bwahahahah!

I love it when a-holes like Shkreli get boned and the average sick person comes out a winner at the same time!

[thesquanderer]

9. also being discussed at

http://www.democraticunderground.com/10027278967

[reformist2]

11. I'm confused - doesn't Shkreli's drug have patent protection???

Why would he buy the rights to the drug if others could make cheap knockoffs legally for $1 a pill?

[christx30]

18. His vision was clouded by greed.

He spent $55 Million for the rights to this drug. Just a poor excuse for a businessman.

[Ilsa]

21. These other two replacement drugs are compounded

and can be custom-made. I'm not sure, but I think that gets around the paten because they are close, but not exact.

[jeff47]

23. They aren't knockoffs. They are different drugs that have the same effect.

A little like Tylenol and Advil both relieve pain.

[Avalux]

26. No he doesn't. It's a 60 year old generic drug.

It's been the only drug to treat Toxoplasmosis for all that time; was never an attempt to compete with it because it's not widely used and it was cheap.

PHARMA BRO didn't understand that when he raised the price, he opened a door to competition from others who were able to come up with an alternative.

[reformist2]

27. Nobody is that stupid. It sounds like the whole thing was a publicity stunt now.

[Avalux]

28. Or maybe he knew his time to make a huge profit would be limited.

Any alternative to an FDA approved drug has to prove it's equivalency through clinical trials before it can be sold. I'm sure he knew that any competitor would need to go through this process, and that it could take anywhere from months to years.

Maybe he hedged his bets thinking it would take a long time and in the mean time, people would still get sick and need his outrageously priced drug.

I"d love to know how much profit he made while his drug was the only game in town. I bet it was a lot, and that's probably all he cared about.

[Art_from_Ark]

29. If it was a publicity stunt,

then what was the actual objective?

[NCjack]

30. I want to believe that the jerk paid $55 M for a right that has expired. /nt

[Beartracks]

12. When capitalism works.

Identify a need.

Deliver a solution for the need.

And, of course, price the solution so that people will actually buy it to meet the need... otherwise, someone else will do it cheaper.

=================

[madokie]

13. Awesome

News

[olddots]

14. he has a bright future at Nestles

[Jack Rabbit]

15. Karma is a (rhymes with rich), isn't it, Mr. Shkreli?

[rocktivity]

31. You're welcome.

rocktivity

[jwirr]

16. If only capitalism would act to correct itself in more areas

than just this one.

[Initech]

17. The world's tiniest violin playing just for Shkreli:

[Chicago1980]

19. This couldn't have happened to a bigger douche.

He's playing with the big boys now... Or trying to.

[DinahMoeHum]

20. Heh heh. Payback sucks, don't it, Shkreli ??

n/t

[leftyladyfrommo]

22. This is so great. nt

[Fritz Walter]

24. Hahahaha... Wait!

Karma has deal Little Lord Pharma Bro a righteous butt-hurt, but let's not lose sight of the fact that he's just a tiny example of what's wrong with Big Pharma profiting off of people's suffering.

Until the entire system is dismantled and replaced with one that is fair and effective, we're just kidding ourselves until the next greedy, corporate asshole comes along and makes headlines.

Sorry to be a buzz-kill...

[Avalux]

25. PHARMA BRO doesn't have a patent on the formulation - this was bound to happen!

Good for Imprimis for coming up with an effective alternative, and effectively shoving their fist down PHARMA BRO's throat.

I'm happy that everyone who needs this treatment will now be able to get it cheap (as it should be).

[BeanMusical]

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