Turing Is Weighing a $100 Mln Cash Offer For Anti-parasitic Drug Daraprim: Endpoints News

Turing Pharmaceuticals, known best for massive price hikes on its anti-parasitic drug Daraprim under former Chief Executive Martin Shkreli, is weighing a $100 million cash offer for the drug, according to news publicationEndpoints News. The offer was received on Friday, with a review by the company's board of directors expected this month, Endpoints News reported. Turing, which is privately-held, told Endpoints News that it was "fulfilling its fiduciary obligation to evaluate a credible offer for Daraprim that was recently received from a reputable pharmaceutical entity" and couldn't disclose who was making the offer. Daraprim is used to treat parasitic infections, including for individuals with HIV. The drug initially cost as little as $13.50, before Turing-under Shkreli's leadership- raised the price 5,000%. The drug cost most recently about $758 a pill, according to price comparison website GoodRx.