Drugmaker tripled price of antidiarrheal pill as it pursued coronavirus use - Axios

This month, Jaguar Health more than tripled the price of its lone FDA-approved drug, right after asking the federal government to expand the use of its drug to coronavirus patients.

Why it matters: Jaguar Health drastically raised the price of a drug during the height of the pandemic, but executives argued the move was needed to stave off the company's collapse.

By the numbers: Going into this year, the list price of a 60-pill bottle of Mytesi — an antidiarrheal medication specifically for people with HIV/AIDS who are on antiretroviral drugs — was $668.52.

Between the lines: The price hike coincides with the company's push to get its drug to more patients — specifically those diagnosed with COVID-19.

The big picture: Jaguar Health disclosed earlier this month that "there is substantial doubt about our ability to continue as a going concern as we do not currently have sufficient cash resources to fund our operations" for another year.

What they're saying: Jaguar Health CEO Lisa Conte told Axios the company decided in December to raise the price of Mytesi in April because it was losing too much money. She also blamed health insurers for making the drug difficult for people to get.

Go deeper: Jaguar Health isn't the only drug company that has raised prices amid the outbreak. The U.S. drugmaker of chloroquine doubled the price of its product last month, the Financial Times reported.

https://www.axios.com/pharma-jaguar-health-mytesi-drug-price-coronavirus-8ea874b1-9e75-47cf-ba47-475ef7d58e3b.html