Martin Shkreli, 32, founder and chief executive of Turing
Pharmaceuticals who was a former hedge fund manager, is the Current world most hated, He purchased the
rights to Daraprim – a drug which is used to treat life-threatening
parasitic infections – in August for $55million. Shortly thereafter, the
price of the drug, which costs roughly $1 to produce, was increased to
$750 per tablet. The drug cost only $13.50 per tablet and you needed
only 100 tablets to treat yourself and be well.
Shkreli told Bloomberg that he hiked up the price of the pill because Turing Pharmaceuticals ‘needed to turn a profit on the drug’, needed to upgrade , had manufacturing, distribution, FDA and had to pay its workers well to make sure that the drugs were made to specification. Which people thought was bogus because the previous company met all the requirements he mentioned and were still able to sell it for $13.50 per tablet.
Shkreli told Bloomberg that he hiked up the price of the pill because Turing Pharmaceuticals ‘needed to turn a profit on the drug’, needed to upgrade , had manufacturing, distribution, FDA and had to pay its workers well to make sure that the drugs were made to specification. Which people thought was bogus because the previous company met all the requirements he mentioned and were still able to sell it for $13.50 per tablet.
‘This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,’ Shkreli said.
He added that many patients use the drug
for less than a year and that the price is on par with drugs similar
that are used to treat rare diseases.
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