Turing Pharmaceutical CEO Martin Shkreli's decision to raise the price of an antiparasite medication by 5,000 percent overnight sparked public outrage and attention on prescription drug prices in the U.S. Now, another drug company has released a pill that can serve the same purpose for just $1, according to Fortune magazine.
Imprimis Pharmaceuticals is a specialty pharmaceutical company that produces compounded drugs. Its new pill is similar to Daraprim, the 62-year-old drug acquired and priced by Turing Pharmaceuticals. While Imprimis' new pill can benefit patients suffering from food-borne illness, especially those with compromised immune systems — such as HIV/AIDS and cancer patients — the alternative drug is not exactly the same as Daraprim.
Imprimis' pill is a combination of pyrimethamine, the sole ingredient in Daraprim, and leucovorin, a medicine that helps reverse harm to bone marrow caused by pyrimethamine's toll on the body, according to Fortune. The Centers for Disease Control recommends the concurrent use of both drugs, and leucovorin is often prescribed alongside Daraprim.
A 100-count bottle of Imprimis' customizable compounded drug is available for $99. The same number of Daraprim pills would cost $75,000.
Imprimis CEO Mark Baum says his company is still making a profit on the drug, even at its low cost. "We're not losing money doing this. We're just not ripping people," Mr. Baum told Fortune. "What we're doing is putting the power back in the prescription pad and letting doctors choose the best medication for each patient."
The new combination drug is not approved by the U.S. Food and Drug Administration, but its individual components have been approved, according to the report. According to FDA rules, compounding pharmacies are prohibited from creating a pill from a single commercially available drug, but it can offer a cheaper alternative by combining the two treatments into one pill. Physicians can then prescribe it to patients based on federal and state rules for compounded drugs, according to Fortune.