The boss of a drug company which increased the cost of lifesaving HIV-treating medication by 5,000 per cent has been accused of not honouring a pledge to cut the drug's price to patients.
Martin Shkreli, chief executive officer of Turing Pharmaceuticals, sparked outrage in September after the company bought the rights to Daraprim and then drastically increasing its cost.
The pill, which is used to treat a rare parasitic infection that mainly strikes pregnant women and HIV patients, previously cost $13.50 but was upped to $750.
Patients, doctors and other drugmakers criticised the decision but despite Mr Shkreli telling ABC News he would cut the price of the drug, the cost is no longer being reduced.
It was reported the company would work with hospitals or patients on a case-by-case basis to make it more affordable.
Instead Turing Pharmaceuticals has announced it will reduce the price of the drug for hospitals by up to 50 per cent, adding lowering the total price for individuals would “not translate into a benefit for patients”.
Nancy Retzlaff, chief commercial officer at Turing Pharmaceuticals, said: “Drug pricing is one of the most complex parts of the healthcare industry.
“A drug's list price is not the primary factor in determining patient affordability and access. A reduction in Daraprim's list price would not translate into a benefit for patients.
“Physicians, patients, hospitals, and patient advocacy groups have told us time and time again that we need to keep patients' out-of-pocket costs low, have patient assistance programs in place and ensure hospitals can afford to stock Daraprim for treatment of the most vulnerable patients.
“By providing affordable access for hospitals and reaffirming our commitment that nearly all patients will receive Daraprim for $10 or less out-of-pocket per prescription, that's what we have done.”
But Dr Carlos del Rio, chairman of the HIV Medicine Association, labelled the price change as "just window dressing."
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He said most patients were treated at home for a couple of months after initial going to hospital, meaning this change did not really help.
The 62-year-old drug had no competition until price hike sparked international outcry, triggering multiple government investigations.
A pharmacy that compounds prescription drugs for individual patients later stepped in and started selling a capsule version for 99 cents.
Imprimis Pharmaceuticals said orders are pouring in from doctors and added it dispensed more than 2,500 capsules in barely a month.
Additional reporting by Associated Press.
