Martin Shkreli Responds To Critics After Turing Pharmaceuticals Raises Price Of HIV Drug By 5,000%

There has been a lot of anger slowly bubbling away ever since Turing Pharmaceuticals jacked up the price of a HIV medication, raising it from $13.50 per pill to $750 overnight.

This shocking rise in price took place shortly after Turing Pharmaceuticals, which is owned by Martin Shkreli, acquired the rights to the drug by the name of Daraprim.

Naturally, caused a lot of alarm and anger from customers, and a huge group of them took to Reddit to call for a boycott, while also calling for new laws to prevent such things from happening again.  Some rightfully pointed out that it’s hard to boycott a drug when your life depends on it.

Another user wrote: “It costs 2.2 cents per pill in India. The full 4-6 week course would cost you less than a dollar, versus around $100,000 in the US. Illegal for you to import to the US, but if you’re dying from the complications of AIDS or cancer and can’t pay $750 per pill, you might not care about breaking the law to save your life.”

A spokesperson for the HIV Medicine Association, Judith Alberg, calculated that even those with insurance could be seeing costs of $150 per pill out of pocket. While speaking to the USA Today, she said: “This is a tremendous increase.”

Also, according to a report from the New York Times, Judith’s group and the Infectious Diseases Society of America wrote a joint letter to Turing earlier this month, saying that the price increase is “unjustifiable for the medically vulnerable patient population” and “unsustainable for the health care system.”

The move from Turing has even drawn criticism from presidential candidate Hilary Clinton, who said she has a plan to tackle the issue.

 

 

The response from Martin Shkreli came when the editor of Fierce Biotech, John Carroll, asked Shkreli to explain himself. You can see their heated twitter conversation below.

 

 

 

 

 

 

 

However, this is the only real answer from Shkreli.

 

 

He also appeared on CNBC yesterday, and you can watch his appearance below.



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Summary
Article Name
Hedge Fund Manager Responds To Critics After Raising Price Of HIV Drug By 5,000%
Description
Martin Shkreli, CEO of Turing Pharmaceuticals, responds to criticism after he rose the price of a life-saving HIV drug, Daraprim, by 5000%