ARTICLE | Company News

Turing Pharmaceuticals sales and marketing update

September 28, 2015 7:00 AM UTC

Turing’s CEO Martin Shkreli told news outlets that the price of antiparasitic drug Daraprim pyrimethamine will be lowered to “allow the company to make a profit, but a very small profit” and that the price will be set at a level where the company will “break even or make a small profit.” Shkreli declined to discuss pricing changes with BioCentury. Earlier in the week, it had been reported that Turing was raising the price of the drug over fiftyfold. Turing issued a statement that the company intends to develop next-generation treatments for toxoplasmosis, invest in disease education and diagnosis, and provide financial assistance programs for the drug.

On Sept. 22, Rep. Elijah Cummings (D-Md.) requested a U.S. House Oversight and Government Reform committee hearing to discuss the drug’s price. In a letter to committee Chairman Rep. Jason Chaffetz (R-Utah), Cummings asked that the committee invite Shkreli to testify. Cummings and Sen. Bernie Sanders (I-Vt.) had sent a letter on Sept. 21 to Shkreli saying they would investigate Daraprim’s pricing. The lawmakers requested information relating to the drug’s cost and the company’s distribution policies, and set an Oct. 9 deadline for him to respond. ...