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And other drugmakers have bought rights to old, cheap medicines that are the only treatment for serious diseases and then hiked prices severalfold has angered patients. It’s triggered government investigations, politicians’ proposals to fight “price gouging,” heavy media scrutiny and a big slump in biotech stock prices.At the eye of the storm is former hedge fund manager Martin Shkreli, head of Turing Pharmaceuticals, scorned last month for buying rights to and then increasing by more than 5,000 per cent the price of Daraprim, a 62 year old drug with no competition. The startup drugmaker paid Impax Laboratories $55 million in August for rights to Daraprim, which treats a rare parasitic infection called toxoplasmosis that mainly strikes pregnant women, cancer patients and AIDS patients.Imprimis, which primarily makes compounded drugs to treat cataracts and urological conditions, will work with health insurers and prescription benefit managers in each state to make its new capsules and other compounded generic medicines widely available, Baum said.”We’re geared up.
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