company that raised drug price from $13.50 to $750; CEO was formerly a HEDGE FUND MANAGER!

[Bill USA]

Drug Goes From $13.50 a Tablet to $750, Overnight
http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html


Former Hedge Fund Manager Buys Rights To Drug For Pregnant Women, Increases Price 5500 Percent
http://thinkprogress.org/health/2015/09/21/3703739/drug-price-spike-overnight/

A decades-old drug that’s used to treat a common parasite has jumped in price by more than $700, after a pharmaceutical company purchased it and raised the price tag practically overnight — triggering protests from members of the medical community, who say that the treatment may now be out of reach even for patients with insurance coverage.

Daraprim helps treat toxoplasmosis, a parasite that mainly affects pregnant women and other people with compromised immune systems. According to the Centers for Disease Control and Prevention, toxoplasmosis is “a leading cause of death attributed to foodborne illness in the United States,” though it’s typically not dangerous for healthy people.

A start-up company named Turing Pharmaceuticals bought Derapim last month and now has exclusive rights to market the name brand drug, which has been on the market since 1953. Turing, which is run by a former hedge fund manager named Martin Shkreli, quickly upped the drug’s price from $13.50 per pill to $750 per pill.
(MORE)

[ZM90]

1. Hmm he was a hedge fund manager....yeah the greed is not surprising...

If there was any justice this guy would be facing at the very least a massive fine and at the most prison. I doubt what he did was illegal however but it was most certainly morally wrong.

[Bill USA]

3. I have an idea how he could, in one act, improve mankind's lot. But it can't be printed.

[napkinz]

2. yep