SOURCE
Item Year
YEAR ADDED
Item Year
ADDED BY
Item Year
_edited.png)
.png)
.png)
ADDED BY
Item Year
LOCATION
Item Year
ITEM YEAR
Item Year
ITEM YEAR
Item Year
YEAR ADDED
Item Year
SOURCE
Item Year
LOCATION
Item Year
Pharma Bro
Turing Pharmaceuticals' CEO, Martin Shkreli—formerly a hedge-fund manager and often referred to as "Pharma Bro"—acquired Daraprim (pyrimethamine), a medication used to treat toxoplasmosis, from Impax Laboratories in August for $55 million. Following the acquisition, he raised the price of the drug by an astonishing 5000%.
Originally approved by the Food and Drug Administration in 1953, GlaxoSmithKline marketed Daraprim for approximately $1 per tablet. In 2010, CorePharma purchased GlaxoSmithKline, and in 2014, Impax Laboratories acquired Core and its affiliated companies for $700 million, subsequently selling Daraprim for $13.50 per pill.
Daraprim remained relatively obscure until Turing Pharmaceuticals secured exclusive distribution rights and dramatically increased the price from $13.50 to $750 per tablet. This price hike rendered the medication unaffordable for many patients and ignited widespread controversy,…
ADDED BY
Item Year
