Pharma chief defends 400% drug price rise as a 'moral requirement'

[tenderfoot]

Price Gouging = Moral

Nostrum Laboratories’ Nirmal Mulye says he is right to charge as much as possible and slams FDA

A pharma executive has defended his decision to raise the price of an antibiotic mixture to more than $2,000 a bottle, arguing there was a “moral requirement to sell the product at the highest price”.

Last month, Nostrum Laboratories, a small Missouri-based drugmaker, more than quadrupled the price of a bottle of nitrofurantoin from $474.75 to $2,392, according to Elsevier’s Gold Standard drug database.

Nitrofurantoin is an antibiotic used to treat bladder infections that was first marketed in 1953, which appears on the World Health Organization’s list of essential medicines. It comes in a tablet form as well as a liquid version that Nostrum makes.

In an interview, Nirmal Mulye, Nostrum chief executive, said he had priced the product according to market dynamics, adding: “I think it is a moral requirement to make money when you can?.?.?.?to sell the product for the highest price.”


more: https://www.ft.com/content/48b0ce2c-b544-11e8-bbc3-ccd7de085ffe

[unblock]

1. this is what happens when ceos are told their only moral obligation is to maximize profit.

[genxlib]

2. Agreed

Made worse by making their personal financial reward almost completely dependent on it.

[DFW]

3. Sounds like this guy graduated from the Martin Shkreli school of Sleazy Pharma Business

And he must have have been class valedictorian

[spanone]

4. Ain't that America.... "I think it is a moral requirement to make money when you can . . ."

moral requirement? these are not human beings

[smirkymonkey]

5. A fucking "moral requirement"?

How does he justify that? He is the scum of the earth. He doesn't know the meaning of the word "moral".

[Javaman]

6. to the rich greed is part of their morals. nt