There has been an overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection along with HIV and Cancer.
The drug, called Daraprim, was acquired in August by Turing Pharm (run by former hedge fund manager Martin Shkreli). Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.
The drug, which is not in extremely high demand is very tightly controlled (as or recent) making it difficult to create a generic version as the profits aren't guaranteed.
There is a concern that this is going to occur with other older drugs and I feel that the practice of purchasing rights, controlling supply & increasing price is wrong.