Martin Shkreli will be appearing before the U.S. Senate for his price gouging scheme for the pill Daraprim. Daraprim is a drug that consists of the active ingredient pyrimethamine. It is a pill prescribed to patients suffering from cancer and AIDS. The Turing Pharmaceutical CEO wants to hike the price of the aforementioned drug from $13.50 to an intense $750.
Martin Shkreli kept on justifying that the price of the Daraprim is still underpriced in contrast to what the U.S. Senate believes. The Senate is already asking the Turing Pharmaceutical CEO to open up his company's books as one of the requirements for the investigation of his reported price gouging for the pill, Inverse shared in a report.
Daraprim is one of the most important drugs prescribed to those who have contracted AIDS as well as cancer. It is a cure for parasitic infection toxoplasmosis and has the ability to build up the immune system of the patients going through the aforementioned illnesses.
Various protests have been made against the intense price increase of the acquired drug by Turing Pharmaceuticals. In line with this, after the said protests and fight to have the Daraprim reduced to a more reasonable price, Martin Shkreli has expressed that he is willing to lower the amount of the said pill but up to 10% decrease to an extent, New York Times cited. Moreover, he has expressed that with the price bestowed on the said drug, it will not be too much of a burden to healthcare because Daraprim is rarely used and consumed.
Independent UK has shared that as per Turing Pharmaceuticals, it is not the first time that the company has issued drugs with such high cost and gained the attention of its rights and price provisions of the state. Also, they have also mentioned that Daraprim has a developing program to offer it at a lower cost in the near future.
Martin Shkreli is set to justify all of these before the U.S. State all the reasons why Turing Pharmaceuticals has to sell Daraprim on its current price. Amidst all the protests and other controversies, Turing Pharmaceutical seems to withstand the price of its pill to the market.
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