Turing Pharmaceuticals is the drug company that increased the price of a drug used by AIDS and cancer patients by more than 5,000 per cent. (Kelly Mclaughlin, 2015, Drug company that raised price of AIDS medication by 5,000% is being investigated by the New York Attorney General).
This blog post will be discussing the political, economic, social, technological, legal and environmental factors of the actions this company has taken in regards to this drug.
According to the Daily Mail (www.dailymail.co.uk, 2015) Turing is distributing the drug Daraprim only through a limited number of specialty pharmacies. This prevents generic manufacturers from obtaining access to samples to make their own version.
From rising the price of the pill from $13.50 to $750 it means that people needing the drug are unable to obtain it as they cannot afford it.
Also the whole reasoning behind Turing buying the rights to the drug was purely a selfish economic gain to make money and not for the common good of the drug users.
The actions of this company has caused massive uproar. For people who are not able to afford the drug it can have implications on their health consequently this can affect the families of these affected. Also for others who will be buying the drug it means their money will be going on that, leaving them very little or non for other things such as food and water.
From the controversy of what Turing Pharmaceuticals has done it has created awareness of the drug Daraprim and publicity for the company.
“everything that Turing Pharmaceuticals AG has done with Daraprim is legal.” (Anna Almendrala, 2015, What the Daraprim price hike actually does to health care). Hilary Clinton has expressed her view on how she is against money gouging in the health care sector.
No information on environmental effects was found.
Below is my reference list.
Almendrala, A. (2015). What the Daraprim price hike actually does to health care. [online] Huffington Post. Available at: http://www.huffingtonpost.com/entry/daraprim-price-turing-shkreli_560063cee4b00310edf82060 [Accessed 14 Oct. 2015].
Mclaughlin, K. (2015). Drug company that raised price of AIDS medication by 5,000% is being investigated by the New York Attorney General. [online] Daily Mail. Available at: http://www.dailymail.co.uk/news/article-3271309/Pharmaceutical-company-hiked-price-medication-used-AIDS-cancer-patients-5-000-investigated-New-York-Attorney-General.html [Accessed 14 Oct. 2015].