News Headlines Article

Generic drugs are potentially high-priced apples, ripe for the picking
Modern Healthcare

A pharmaceutical company’s move to raise the price of a generic drug by more than 5,000% has some pointing to the lack of regulatory controls over the market system. Turing Pharmaceuticals faced backlash after it announced it would raise the price of the drug Daraprim, a generic medication that treats toxoplasmosis, from $13.50 a pill to $750 a pill. The move came shortly after acquiring the rights to market the medication.The company, however, is now backing off the over 5,000% price hike after the move provoked outrage, according to news reports. The company hasn’t decided what the new price will be.