Earlier this month Turing Pharmaceuticals raised the price of Daraprim from $13.50 to $750.00, an increase of more than 5000%. There were immediate outcries of price gouging from customers who take the anti-malarial and HIV drug, insurers, doctors and politicians. In the wake of the backlash, Turing reversed course last week and returned the drug to its previous price. Although I believe it is important to price products according to their values and I have defended Gilead’s very high pricing of Sovaldi, I think Turing was wise to change course. It is usually not a good decision to piss off your customers. Once they get angry, it is easy to lose them for good.
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