Turing's Shkreli Caves To Pressure; Lowering Daraprim Price
This article was originally published in Scrip
Martin Shkreli, the hedge funder-turned-pharma CEO, who jacked up the price of a rare disease medicine from $13.50 to $750 per pill after acquiring it last month, found out the hard way that picking a fight with the HIV/AIDS advocacy community and presidential candidates already on the war path about skyrocketing drug prices wasn't the best idea.
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Allergan CEO Brent Saunders, speaking at the BIO International Convention on June 19, said the biopharma industry needs to improve its image before its defenders in Congress bow to public pressure on drug pricing concerns.
With new funding in hand, Moderna and its infectious disease venture Valera are going full-speed ahead with a Zika vaccine, taking an mRNA approach, which they said could be a more rapid strategy to try to stop the disease.
Allergan CEO Brent Saunders vows not to engage in price gouging and says his firm will limit cost increases to single-digit percentages, occurring only once per year. But it's unclear whether Saunders will stand as a lone wolf in the industry or if others will make similar pledges.