07 October 2015

He Has to Be the Most Evil Ratf%$# in Business Today

Remember Martin Shkreli?

He's the contemptible greedhead who raised the price of Daraprim by 5500% when he got the rights to it.

After a storm of public outrage, he agreed to roll back the price to an unspecified degree.

Guess which drug has not come down a penny in price:
It's been two weeks since Turing CEO Martin Shkreli announced he would scale back the price of his drug, and so far nothing has really changed.

The biotech leader came under fire last month for his 5,000% price hike of Daraprim, a drug that fights parasitic infections.

The drug, which rose from $13.50 to $750 seemingly overnight, left the biotech and pharmaceutical industries reeling, with corporations such as Valeant facing a lot of criticism for their similar price-hike moves.

In September, he told ABC News, “We’ve agreed to lower the price of Daraprim to a point that is more affordable and is able to allow the company to make a profit, but a very small profit."

That hasn't happened yet. A 30-day, 30-pill supply of Daraprim would cost me $27,006 at my local pharmacy.

That boils down to about $900 a pill, which includes the wholesale cost, along with specific pharmacy fees based on the zip code I gave the pharmacy.

So while the price of the drug hasn't gotten any higher since Shkreli hiked it 5,000%, it hasn't gotten any lower since he promised to reduce it either. Turing did not respond to Business Insider's request for clarification about this price.
(emphasis original)

This ain't business, this is terrorism.

Perhaps the President should consider a drone strike.


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