Imprimis Pharmaceuticals announced it would begin manufacturing the generic drug Daraprim and sell it for $1 a pill, according to the San Diego Union-Tribune.
When Martin Shkreli bought Turing Pharmaceuticals in September, he raised the price of Daraprim from $13.50 a pill to $750. The drug is used for AIDS and cancer patients and is used to fight toxoplasmosis.
Because it is a generic, no company holds exclusive rights or patents on the drug. The medication isn’t widely used, however, so Turing was the only company producing it.
Shkreli, the little snot who planned to pay for his leveraged purchase of the drug manufacturer on the backs of people with AIDS and cancer, is screwed and will have to figure out some other way to avoid bankruptcy.