Turing Pharmaceuticals

Turing Pharmaceuticals AG is a biopharmaceutical company established in 2015 by Martin Shkreli. It gained notoriety for its controversial pricing practices, particularly for the antiparasitic drug Daraprim (pyrimethamine), which is used to treat toxoplasmosis and other infections. Turing Pharmaceuticals acquired the rights to Daraprim and subsequently increased its price by more than 5,000%, from $13.50 to $750 per pill, sparking widespread public and political backlash.

History

Turing Pharmaceuticals was founded with the goal of focusing on the development and commercialization of treatments for serious diseases and conditions with unmet medical needs. However, the company's business practices, especially regarding drug pricing, have overshadowed its scientific endeavors. The dramatic price increase of Daraprim, a drug that is crucial for treating toxoplasmosis in immunocompromised patients, such as those with HIV/AIDS, led to Turing Pharmaceuticals and its CEO, Martin Shkreli, becoming the center of a national debate on pharmaceutical pricing in the United States.

Controversies

The Daraprim price hike resulted in significant media coverage and public outcry, with Turing Pharmaceuticals being accused of price gouging. Martin Shkreli defended the price increase, stating that the additional profits would be used to develop better treatments for toxoplasmosis with fewer side effects. However, this justification was met with skepticism by many in the medical and regulatory communities, as well as among patient advocacy groups.

In response to the backlash, Turing Pharmaceuticals announced it would lower the price of Daraprim for hospitals and develop programs to make the drug more affordable for patients. Despite these measures, the company's pricing strategy has led to ongoing debates about drug pricing and pharmaceutical regulation in the United States.

Impact on Pharmaceutical Industry

The actions of Turing Pharmaceuticals have had a lasting impact on the pharmaceutical industry, prompting calls for reform in drug pricing and regulation. The controversy has highlighted the need for a balance between rewarding pharmaceutical innovation and ensuring access to essential medications. It has also led to increased scrutiny of other pharmaceutical companies' pricing practices and has sparked discussions about the role of government in regulating drug prices.

See Also

• Pharmaceutical industry in the United States
• Drug pricing in the United States
• Martin Shkreli
• Toxoplasmosis
• HIV/AIDS