Clinton urges U.S. regulators to examine Daraprim price hike

[Eugene]

Source: Reuters

Deals | Mon Oct 19, 2015 11:02am EDT

Exclusive: Clinton urges U.S. regulators to examine Daraprim price hike

WASHINGTON | BY AMANDA BECKER

Democratic presidential candidate Hillary Clinton on Monday urged U.S. regulators to determine how to bring lower-cost generic drugs to market more swiftly and combat anticompetitive practices in the pharmaceutical industry.

Clinton's requests to the Food and Drug Administration and the Federal Trade Commission were prompted by what she called the "egregious actions of Turing Pharmaceuticals," according to letters reviewed by Reuters.

The company drew fire from Clinton last month after news reports that it had raised the price of Daraprim, a 62-year-old treatment for a dangerous parasitic infection, to $750 a tablet from $13.50 after acquiring it.

Clinton's criticism sent drug industry stock prices tumbling. Turing Chief Executive Officer Martin Shkreli promised to lower Daraprim's cost to an unspecified price, and Turing is in the midst of a rebranding effort after being mocked on "Saturday Night Live."

In her letter to the FDA, Clinton said that Turing has still not "meaningfully lowered the price" and its decision to "artificially increase the price" exploited vulnerable patients dependent on the drug, which is often used by those with compromised immune systems.

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Read more: http://www.reuters.com/article/2015/10/19/us-usa-election-clinton-idUSKCN0SD1P820151019

[MisterP]

1. Shkreli's poor, poor walls: they'll be covered with little smudges