Martin Shkreli could really use a good PR agent….
As the healthcare industry turns the heat up on Turing Pharmaceuticals from within, with a letter signed by 150 health care industry participants urging the company to live up to its promise to reduce drug prices, the company’s CEO lashed out at a CNBC journalist today, calling her a “moron” on Twitter.
CNBC reports on 150 healthcare organizations uniting to encourage Shkreli to keep his promise
The issue started this morning when CNBC health care reporter Meg Tirrell reported on 150 health care-related firms calling on Turing to take “immediate action” to reverse decisions taken since the firm was acquired by new owners.
“Physicians are reporting that the continued failure of Mr. Shkreli to roll back his unconscionable 5,000 percent increase in the cost of Daraprim has forced them to switch vulnerable people from the medically-preferred medication to potentially less effective treatments,” HRC President Chad Griffin said in a statement. “It is simply shocking that this greedy price gouging is jeopardizing the health of women, children, infants, and people living with HIV.”
The letter, signed by organizations from Emory University and the University of Chicago Infectious Disease to the Pediatric Infectious Diseases Society and the AIDS Treatment Activists Coalition (ATAC), asks Turing to:
Lower the $750 per tablet price to a level comparable to the previous price of $13.50;
Provide parity on pricing for inpatient and outpatient settings;
Offer support under the patient assistance program to patients with incomes at the level of at least 500 percent of the federal poverty level;
Provide transparency regarding eligibility and documentation requirements for the patient assistance and co-pay assistance programs;
Cover the maximum out-of-pocket costs ($6,600 for an individual plan and $13,200 for a family plan in 2015) on co-insurance and copayments allowable under the Affordable Care Act, and
Ensure same day and direct access to the drug in the communities where patients live.
CNBC asks for comment on letter, and Turning’s response isn’t suitable for broadcast
When Tirrell asked Turing for comment on the issue, they responded with what Tirrell said on air was not serious or appropriate for re-broadcast. This led to and exchange between Shkreli and CNBC anchors, including @ScottWapner. “This is the same @MartinShkreli who also insulted our star healthcare reporter @megtirrell on Twitter. I guess that tells you more…” Wapner tweeted.
Shkreli responded by saying that CNBC conducted bait and switch in an interview. “You invite me on and then bait-and-switch topics. Great journalism ethics. Meg is not a star, she’s a moron,” he tweeted. Shkreli went on to denigrate the CNBC network. He has an interview with Fox Business News tomorrow morning.
But there is some good news. See the text from the press release of a Shkreli competitor.
– Imprimis Pharmaceuticals, Inc. (NASDAQ: IMMY), a specialty pharmaceutical company focused on the development and commercialization of proprietary compounded drug therapies, today announced it has made available a customizable compounded formulation of pyrimethamine and leucovorin available for physicians to consider prescribing for their patients as a low cost alternative to Daraprim®.
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.
Mark L. Baum, CEO of Imprimis stated, “It is indisputable that generic drug prices have soared recently. While we have seen an increase in costs associated with regulatory compliance, recent generic drug price increases have made us concerned and caused us to take positive action to address an opportunity to help a needy patient population. While we respect Turing’s right to charge patients and insurance companies whatever it believes is appropriate, there may be more cost-effective compounded options for medications, such as Daraprim, for patients, physicians, insurance companies and pharmacy benefit managers to consider. This is not the first time a sole supply generic drug – especially one that has been approved for use as long as Daraprim – has had its price increased suddenly and to a level that may make it unaffordable. In response to this recent case and others that we will soon identify, Imprimis is forming a new program called Imprimis Cares which is aligned to our corporate mission of making novel and customizable medicines available to physicians and patients today at accessible prices.”
Mr. Baum added, “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.”
The post As 150 Health Care Organizations Unite Against Turing, CEO Shkreli Turns On CNBC appeared first on ValueWalk.
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