New York Attorney General probes Shkreli over antitrust concerns
For the second time in a week, Turing Pharmaceuticals is facing anti-trust scrutiny. The New York State Attorney General wants to know more about a controlled distribution system for its pricey Daraprim pill and the extent to which this program may thwart generic rivals. Last week, a US Senator asked the Federal Trade Commission to investigate the New York-based company over the same concern.
Daraprim is an anti-infective pill that Turing purchased this past summer for $55 million and then boosted the price from $13.50 to $750. As we noted previously, the 5,000 percent price hike triggered a new round of scrutiny of prescription drug costs. But a Turing executive acknowledged acknowledged that he would reject any orders from a generic drug maker.