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CEO raises AIDS drug from $13.50 per tablet to $750

Shkreli said that he hiked up the price of the pill because Turing Pharmaceuticals 'needed to turn a profit on the drug'

Newsroom September 22 05:43

The medicine, Daraprim, which has been on the market for 62 years, is the standard of care for a food-borne illness called toxoplasmosis caused by a parasite that can severely affect those with compromised immune systems.

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Turing Pharmaceuticals purchased the rights to the drug last month and almost immediately raised prices from around $13.50 per tablet to $750.

Martin Shkreli, the 32-year-old CEO of Turning Pharmaceuticals, told Bloomberg that he hiked up the price of the pill because Turing Pharmaceuticals ‘needed to turn a profit on the drug’ adding that newer versions of the drug needed to be developed and his was the first company “to really focus on this product” for decades and that such research was extremely expensive.

Since the announcement, people across social media have criticized the price increase and Shkreli has become the worst person in America, as Twitter users say.

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