Cenk Uygur
@TheYoungTurks·6.5M subscribers·72.8K videos
Drug CEO Raises Price Of AIDS Medicine By 5000%
Posted
September 26, 2015
Views
124,349
Likes
2,000
Comments
941
Engagement
2.37%
September 26, 2015
124,349
2,000
941
2.37%
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5:24Now PlayingAn ex hedge fund manager has bought the rights to a drug and he is now price gouging those who need that drug to survive. He bought a 62 year old drug named Daraprim and raised the price per tablet from $13.50 to $750. He’s claiming the price is still to low. Cenk Uygur and Ana Kasparian (The Point) hosts of The Young Turks discuss.
Is this man evil or just a smart business man? Let us know in the comments below.
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“A former hedge fund manager turned pharmaceutical businessman has purchased the rights to a 62-year-old drug used for treating life-threatening parasitic infections and raised the price overnight from $13.50 per tablet to $750.
According to the New York Times, Martin Shkreli, 32, the founder and chief executive of Turing Pharmaceuticals, purchased the rights to Daraprim for $55 million on the same day that Turing announced it had raised $90 million from Shkreli and other investors in its first round of financing.
Daraprim is used for treating toxoplasmosis — an opportunistic parasitic infection that can cause serious or even life-threatening problems in babies and for people with compromised immune systems like AIDS patients and certain cancer patients — that sold for slightly over $1 a tablet several years ago. Prices have increased as the rights to the drug have been passed from one pharmaceutical company to the next, but nothing like the almost 5,500 percent increase since Shkreli acquired it.”
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