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‘Hedge fund bro’ may be out of business soon
Remember Martin Shkreli? The Wu Tang-quoting former hedge fund manager who jacked up the price of Daraprim, a sole-source drug used to treat AIDS patients, from $13.50 to $750? He became known -- and hated -- around the world as “hedge fund bro” following his unrepentant behavior on Twitter.
Well, here’s a little Brodenfreude for you, via Quartz:
“Shkreli—who became known as “pharma bro” during the controversy—can attempt such stunts thanks in part to unregulated market forces. But those same forces might drive him out of business now that an analogous compound drug priced at $1 a pill could soon hit the market.
Imprimis Pharmaceuticals announced it will offer a pill containing pyrimethamine, the ingredient in Daraprim that fights toxoplasmosis, a parasite-induced disease that threatens patients with weak immune systems. Imprimis’ medication isn’t identical to its competitor. But according to Ars Technica, it could serve as an effective and much cheaper alternative, given that Daraprim is the only other pyrimethamine-based drug on the market.”
Photo: NEPA scene