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Turing Pharmaceuticals the Target of an Antitrust Investigation
New York’s attorney general has launched an antitrust investigation into Turing Pharmaceuticals, the company that made headlines for increasing the price of Daraprim by 5000%.
New York’s attorney general has launched an antitrust investigation into Turing Pharmaceuticals, the company that made headlines for increasing the price of Daraprim by 5000%.
According to an article on Fierce Biotech:
As The New York Times reports, the AG’s office isn’t as interested in the price increase as in the tactics Turing might have used to protect its monopoly pricing power. Daraprim, the drug that’s drawn so much attention to Turing, is a 62-year-old, off-patent product that faces no cheap generic rivals.
“While competition might ordinarily be expected to deter such a massive price increase, it appears that Turing may have taken steps to prevent that competition from arising,” the AG’s antitrust chief, Eric Stock, said in a letter addressed to Turing CEO Martin Shkreli (as quoted by the Times).
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