pharmaceutical industry

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Report: Doctors Getting Pharma Money Prescribe More Brand-Name Drugs

New analysis finally proves the 'prevailing wisdom'

(Newser) - It certainly seems like doctors who take money from pharmaceutical companies would prescribe more brand-name drugs, but there's never been proof of that. That is until an extensive analysis by ProPublica , which found that the more pharmaceutical money a doctor accepts, the more brand-name medicines they prescribe to patients.... More »

Martin Shkreli Celebrates Price Hike in Newly Released Emails

'$1 bn here we come'

(Newser) - Documents and emails released Tuesday by congressional investigators show "pharma bro" and Internet villain Martin Shkreli "giddily rubbing his palms together at the prospect of all the money Daraprim will generate," as NPR puts it. Shkreli and his company, Turing Pharmaceuticals, acquired the drug Daraprim—frequently used... More »

It's Not Just Shkreli Who's Been Hiking Drug Prices

Lots of drugmakers did it around Jan. 1—some up to 20%, per analyst reports

(Newser) - Martin Shkreli attracted no small amount of scorn for jacking drug costs, but he's far from alone. Plenty of other drugmakers have been guilty of hikes, many just since late December, claiming they need to do so to fund "risky" research, the Wall Street Journal reports. Analysts... More »

How Martin Shkreli Is Staying Free

He used $45M E*Trade account to secure his bail

(Newser) - Martin Shkreli is wealthy enough to buy a $120 tea on a whim, but exactly how much money he has is a mystery. A recent court filing, however, shows the former drug CEO had at least $45 million in an E*Trade account as of Wednesday; Shkreli used it to secure... More »

Hepatitis-Curing Pill Costs 250 Times More in US Than India

And that's limiting access to Americans with the disease

(Newser) - It's starting to seem like America is an expensive place to get a disease. Bloomberg reports sofosbuvir—a Hepatitis C "miracle cure"—that retails for $1,000 per pill in the US is currently going for $4.29 in India, and that price is continuing to drop.... More »

New Killer to Top Cancer by 2050—and We're to Blame

Medicine-resistant infections will spike dramatically: study

(Newser) - We've already been warned about an "antibiotic apocalypse." Now a new study says medicine-resistant infections will take more lives annually than cancer does by 2050 unless action is taken, CNBC reports. According to the Review on Antimicrobial Resistance , deaths caused by drug resistance will rise from 700,... More »

Notorious Pharma CEO Is No Longer a Pharma CEO

Martin Shkreli lost his gig at KaloBios Pharmaceuticals, too

(Newser) - Notorious drug CEO/ record-album purchaser Martin Shkreli has lost one of those descriptors. He resigned as CEO of Turing Pharmaceuticals on Friday following his Thursday arrest for alleged securities fraud and conspiracy, and Monday brings the news that he's been terminated as CEO of KaloBios Pharmaceuticals, reports CNBC . Reuters... More »

Martin Shkreli Calls Fraud Charges 'Baseless'

He tweets he will 'prevail'

(Newser) - Pharmaceutical company executive and Internet villain Martin Shkreli says fraud allegations against him are "baseless and without merit." Shkreli tweeted Saturday: "I am confident I will prevail." The 32-year-old former hedge fund manager pleaded not guilty Thursday in Brooklyn federal court and was released on $5... More »

Martin Shkreli Is Jacking Up Drug Prices Again

'Pretty devastating'

(Newser) - Stop us if you've heard this one before: Internet villain Martin Shkreli's company just bought the rights to a drug that's been used to treat a serious infectious disease since the 1970s and is planning to drastically jack up the price. Reuters reports Shkreli's new company,... More »

Drug CEO and Internet Villain Is at It Again

Company goes back on promise to lower drug price after jacking it 5,000%

(Newser) - Former-hedge-fund-manager-turned-Internet-villain Martin Shkreli and his company, Turing Pharmaceuticals, are back in the news this week, months after raising the price of a 62-year-old drug by 5,000% and then promising to maybe not actually do that , Ars Technica reports. But it turns out Turing won't be lowering the cost... More »

State Budgets Pushed to Brink by $710-a-Day Drug

It's the latest pharmaceutical pricing controversy

(Newser) - A newly approved drug is being hailed as a major advance in treatment of cystic fibrosis, a life-threatening genetic disease that clogs the lungs with mucus and makes patients struggle to breathe. But it comes with a punishing price tag—about $710 per patient per day. Orkambi—taken as two... More »

If Doctors Have Their Way, You Won't See This Again

AMA says prescription drug ads are driving up the cost of drugs

(Newser) - The American Medical Association on Tuesday called for a ban on direct-to-consumer ads for prescription drugs and implantable medical devices, saying they contribute to rising costs and patients' demands for inappropriate treatment. Delegates in Atlanta voted to adopt that as official policy as part of an AMA effort to make... More »

Latest 2,000% Drug Price Hike Hurts Infants

Seizure medication goes way, way up in cost

(Newser) - Rapid treatment is of utmost importance for babies diagnosed with infantile spasms, also known as West syndrome, a form of epilepsy that causes seizures and corresponding abnormal bursts of electrical activity in the brain. About half of the babies with it don't respond to the first drug that's... More »

Infamous $750 Pill Is Undercut by $1 Alternative

Imprimis Pharmaceuticals is going after market for Shkreli's toxoplasmosis drug

(Newser) - Martin Shkreli has been hemming and hawing about dropping the price of his company's toxoplasmosis drug since he raised it 5,000% in August, but it may be a moot point: A San Diego drug compounding company is now offering its own version of pyrimethamine for $1 a pill,... More »

Pharma Company Still Hasn't Reversed 5,000% Price Hike

Even though Martin Shkreli said they would backtrack

(Newser) - Two weeks ago, Martin Shkreli, the controversial CEO of Turing Pharmaceuticals, said that, following much public pressure, he would dial back his company's 5,000% price hike on a toxoplasmosis drug. But Daraprim, which jumped from $13.50 to $750 per pill, still costs the same amount, Business Insider... More »

Punk Label Boots Drug CEO Over Un-Punk Price Gouging

'It blindsided and upset us on every level'

(Newser) - Former hedge-fund manager Martin Shkreli has been booted from the punk label he was bankrolling for doing one of the most un-punk things possible: jacking up the price of the drug that treats the potentially deadly parasitic infection toxoplasmosis by 5,000%, the Guardian reports. Shkreli became infamous this week... More »

Drug CEO Caves, Will Drop Price of $750 Pill

Martin Shkreli says people misunderstand the issue

(Newser) - The drug company CEO called the "most hated man in America right now" by the BBC says he's misunderstood—but that he'll lower the price of Daraprim in response to the firestorm of criticism . "There were mistakes made with respect to helping people understand why we... More »

Here's How Price-Gouging Drug CEO Says He Sleeps at Night

'You know, Ambien' suggests Martin Shkreli is A-OK with exorbitant price hike

(Newser) - Price gouging for a tuberculosis drug may have been walked back , but the CEO of another pharmaceutical company is standing firm with his decision to drastically raise the price of a drug that treats the potentially deadly parasitic infection toxoplasmosis. Turing Pharmaceutical's Martin Shkreli—an ex-hedge fund manager who... More »

Drug's Price Hike From $16 to $360 Doesn't Last

But CEO behind another huge price hike stands firm

(Newser) - A huge hike in the price of a tuberculosis drug has been rolled back amid an outcry over the 5,000% leap in the price of another drug. A nonprofit group affiliated with Purdue University sold the rights to cycloserine to Rodelis Therapeutics on Aug. 19 , but it demanded them... More »

Drug's Price Changed From $13.50 a Tablet to $750

Daraprim move doesn't go over well

(Newser) - "This isn't the greedy drug company trying to gouge patients, it is us trying to stay in business. It really doesn't make sense to get any criticism for this." The "this" Martin Shkreli is referring to is the price hike his company instituted after it... More »

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