CEO Of Drug Company Hikes Life Saving Drugs From $13.50 To $750: 5000 Percent!

For today in outrage we go to New York City, where a new startup company called Turing Pharmaceuticals recently acquired a lifesaving drug as well as the wrath of the Internet and wider medical community. That is because a millionaire hedge fund trader and total sociopath named Martin Shkreli founded the new company in an effort to buy the drug known as Darraprim. For over the past sixty years doctors have used Daraprim to help fight food borne disease in patients whose immune systems are weakened by pregnancy or life threatening diseases like cancer and AIDS. After buying the rights to the drug, Shkreli raised the price from $13.50 a pill to $750 a pill, a 5000 percent increase.  Like a COLD BLOODED BOSS… Thanks Shkreli!

Even the Wolf of Wall Street wants this guy to tone it down.

Now you could argue that it is not his job to make sure that medical patients have enough money to afford the drugs they need to survive. And he would agree with you. The 32-year-old took to Twitter to defend his sudden and dramatic price increase.

After his new company acquired the drug for $55 million dollars in August Shkreli sought to make the medicine more profitable, something he alleges the previous owners of the drug failed to do.  Daraprim is also used to treat Malaria and Shkreli says that those other companies were practically giving the stuff away! Those bastards! Do you know many people dying of AIDS and Malaria you could profit off of with this stuff, you socialist commies!?

Here is one problem that was pointed out to Shkreli; it costs only ONE dollar to make Daraprim. One dollar! So even if he charged $20 bucks a pill... he's still be making lots of cash money.

“We know, these days, in modern pharmaceuticals, cancer drugs can cost $100,000 or more, whereas these drugs can cost a half of a million dollars,” he explained. “Daraprim is still under-priced relative to its peers.”

So basically his argument is that everyone else is ripping off patients, so he will too;  there’s money in them thar tumors! If they want Daraprim to save their life they should have thought of that before they got sick. While on Twitter the CEO has taken on random users Tweeting at him by responding with a give no fucks attitude, he went on television to present a more media friendly defense of the controversial price hike. He even says that the company will give away the drug for $1 to those who can’t afford it… which I’m guessing is the majority of people. Watch the video below and see if you agree with his argument.

This guy does his best rendition of a comical stereotype of an evil corporate executive literally taking medicine away from dying sick people. This trope has last been seen in a bad 1980’s comedy movie with the big bad company knocking down an orphanage to build condominiums.  I want to say this was also the plot of Earnest Goes To Camp.

Follow Phil Haney on Twitter @PhilHaney

Source: The Independent