Earlier this year, an "uber-capitalist hedge manager" increased the prices on an AIDS drug. What was once $13.70 per pill shot up to $750 per pill.
The hedge manager Martin Shkreli is now the CEO of Reviled Turing Pharmaceutical after acquiring the company last month.
Although Shkreli was probably rejoicing his newfound wealth, it seems as though he should start getting worried - a competitor is out to get him.
Drug compounding company Imprimis announced on Thursday that they would sell a much cheaper alternative to the pharmaceutical drug Daraprim.
Imprimis further claims that the competing drug has the same active ingredients as Turing Pharmaceuticals' Daraprim, which also aims to sell it at a mere $99 per 100-capsule bottle - making it less than a dollar for a pill.
According to Mashable: "Daraprim is a prescription drug used to treat a rare parasitic infection, called toxoplasmosis, in people with weakened immune systems, most notably those who have AIDS."
Impris CEO Mark Baum told the online publication:
"The extent to which companies have raised their prices has gotten so out of control that we can do a lot more. [...] There's so much we can do to correct what these guys are doing."
Mark Baum also said in a statement, via USA Today:
"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."
However, the FDA has yet to approve the compounded drug formulations by Imprimis as a treatment for toxoplasmosis.
Fortunately though, doctors can prescribe the AIDS pill alternative for patients, as long as they deem the drug to be a feasible alternative treatment.
