San Diego, California – Taking advantage on the market after Turing Pharmaceuticals raised prices of Daraprim from $13 to $750 per pill, maker of compounded drugs Imprimis Pharmaceuticals Inc., (NASDAQ: IMMY) will start selling an alternative drug at $1.
“This is not the first time a sole supply generic drug – especially one that has been approved for use as long as Daraprim – has had its price increased suddenly and to a level that may make it unaffordable,” Imprimis CEO Mark L. Baum said in a press release.
Imprimis CEO said that they respect Turing’s right and decision to charge people whatever they think is right, but that they believe patients, doctors, and insurance companies should have a cost-effective alternative to be considered.
The company will release a customizable compounded formulation including Pyrimethamine and Leucovorin as a low-cost alternative to Daraprim. The drug will come in oral capsules, starting at $99.00 for the bottle —under a dollar per capsule.
According to the FDA, Daraprim is prescribed for infections such as toxoplasmosis, a major threat to patients with HIV/AIDS, children and pregnant women. Pyrimethamine works by cutting down the folic acid synthesis in the parasite of toxoplasmosis, as leucovorin reverse the negative effects caused by the mechanism of action of the pyrimethamine, the Center for Disease Control and Prevention says.
Imprimis stated that the compounded drug formulations do not have an FDA-approval label for recommended use, saying “Imprimis compounded formulations are not FDA approved and may only be prescribed pursuant to a physician prescription for an individually identified patient consistent with federal and state laws governing compounded drug formulations.”
Also, Mark Baum announced the creation of a new program called Imprimis Cares, aiming to create new and customizable drugs available for everyone at low prices. The program, with his team of pharmacists, will work along with physicians and patients to make more than 7,800 generic FDA-approved drugs available.
Imprimis Cares will be available in all 50 states, working with insurances, pharmacy benefits managers and all people involved to guarantee accessibility and serve the patients, with a reasonable profit for the company, the press release concluded.