Drug Bought by Startup Jumps to $750

A drug commonly used to treat life-threatening parasitic infections has jumped in price from $13.50 to $750 per tablet after being acquired by a pharmaceutical startup run by a former hedge fund manager. The 62-year-old drug, Daraprim, was acquired by Turing Pharmaceuticals earlier this year. It's price jump is one of a series of increases for everything from Hepatitis drugs to generics after acquisition by companies that rebrand them by "specialty drugs," The New York Times reports. Physicians worry that the increase may lead doctors to prescribe less costly but less effective remedies.

Pharmaceutical company CEO under fire for hiking price of drug by more than 5000% says he will be on ABC Nightly News tonight to 'set the record straight on misconceptions and announce some adjustments to our plan'

How can a drug hike from $13 to $750 overnight? There must be something wrong.

It is shocking that the price has increased and also it is not good that the former hedge manager is profiting from this, and hope we see more changes where it is affordable for people. I think the people need answers and now people may go for this drug by illegal means and also won't think of the consequences and also, need to think of what can happen if people start doing this. The price going overnight is shocking and also should of gone up by a few dollars, but going up this high is not good, as it looks like people want to profit from this only.