Martin Shkreli is Back with His Usual Tricks to Raise Drug Prices

Martin Shkreli is Back with His Usual Tricks to Raise Drug Prices

Martin Shkreli, financial and pharmaceutical executive with the title of America’s most hated man, is back with his well known tricks: rather than proving cost-effective medicines, Shkreli is hiking price of another drug. In a video, he can be seen saying that just 300 people in the US are with the fatal brain condition.

Shkreli, who has bought a majority share in KaloBios Pharmaceuticals, gave the statement while announcing about a new drug. The 32-year-old co-founder of the hedge fund MSMB Capital Management said he has a new drug capable of treating the deadly disease. “But it’s hard to sell a drug for 300 people, to go through the process. You have to charge a lot per person to make it a viable product”, Shkreli added.

Shkreli, who earlier increased the price of a HIV drug by more than 5,000%, has now hinted that he is going to hike prices of another form of medicine. The Pharma’s bad boy has announced the hike in his own style. Shkreli became public villain when he raised the price of a Turing medicine, Daraprim, from $13.50 to $750. The overnight hike of the drug has shown the entrepreneur’s pharmaceutical-industry greed.

Rather than thinking about patients, Shkreli is enjoying his time being a villain. Whenever he gets time, he answered his critics in his own style. Earlier, the 32-year-old present CEO of Turing Pharmaceuticals AG and some investors took huge stake on another pharma company.

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