A small biotech that filed for bankruptcy shortly after Martin Shkreli took control late last year hopes to shake off his stigma by vowing not to engage in “price gouging” and also committed to disclosing all costs associated with getting its drugs to market.
As part of its plan, KaloBios Pharmaceuticals also said on Monday that it would not take “arbitrary price increases,” and would limit any increase to no more than the rate of inflation or Consumer Price Index. Moreover, the company committed not to raising prices more than once a year.
“We believe this is the right model for us,” said Cameron Durrant, who was recently named chief executive officer, and who expects the drug maker to emerge from bankruptcy by the end of June. “We want to provide reasonable and transparent pricing.”
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