The CEO of Turing Pharmaceuticals is defending his decision to raise the price of the drug Daraprim 5500%, from $13.50 to $750. He claims his company was not making a profit from the drug and that what he did was actually “altruistic.” Cenk Uygur and Ana Kasparian (The Point) hosts of The Young Turks discuss.
Do you think altruism was a factor in this CEO raining the price of the drug? Should the government implment restriction on how expensive medicines can be? Let us know in the comments below.
Read more here: http://www.rawstory.com/2015/09/cbs-r…
“Turing Pharmaceuticals CEO Martin Shkreli defended raising the price of Daraprim from $13.50 to $750, even though it is used to treat vulnerable groups like AIDS and cancer patients.
“The drug was unprofitable at the former price,” Shkreli told CBS News correspondent Don Dahler in an interview that aired on Tuesday. “And at this price, it’s a reasonable profit, not excessive at all.”