Turing Pharmaceuticals, the drug company that jacked up the price of a drug used by AIDS and cancer patients by more than 5,000%, is facing an antitrust probe by New York Attorney General Eric Schneiderman.
The drug company raised the price of Daraprim, a 62-year old drug no longer under patent protection, to $750 a tablet from $13.50.
The drug’s main use is to treat life-threatening parasitic infections but it is also needed by some infants and patients with AIDS. The price hike sparked howls of protest and the company promised to lower the price but has yet to do so.
The investigation, which was confirmed by Schneiderman’s office, is looking at whether Turing is restricting the distribution of Daraprim to thwart generic competition that would prevent it from maintaining the massive price increase. The office is concerned Turing restricted distribution of the drug specifically so generic drug manufacturers couldn’t get the samples they need to create their own version.
Full content: Human Rights Campaign
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Musk’s X Requests Brazil Supreme Court to Resume Service After Shutdown
Sep 26, 2024 by
CPI
Visa Acquires AI Firm Featurespace to Enhance Fraud Prevention
Sep 26, 2024 by
CPI
Visa Gears Up for Legal Fight with DOJ Over Debit Card Monopoly Allegations
Sep 26, 2024 by
CPI
UFC Fighters’ Lawsuit Settlement Resurfaces with $375 Million Offer
Sep 26, 2024 by
CPI
Ex-Amazon Seller Appario Files Lawsuit to Dismiss Antitrust Allegations
Sep 26, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Canada & Mexico
Sep 3, 2024 by
CPI
Competitive Convergence: Mexico’s 30-Year Quest for Antitrust Parity with its Northern Neighbor
Sep 3, 2024 by
Francisco Javier Núñez Melgoza
Competition and Digital Markets in North America: A Comparative Study of Antitrust Investigations in Mexico and the United States
Sep 3, 2024 by
Julio Garcia
Recent Antitrust Development in Mexico: COFECE’s Preliminary Report on Amazon and Mercado Libre
Sep 3, 2024 by
Alejandra Palacios Prieto
The Cost of Making COFECE Disappear
Sep 3, 2024 by
Mateo Fernández