Turing Pharmaceuticals CEO Martin Shkreli Under Intense Scrutiny
Martin Shkreli, the CEO of Turning Pharmaceuticals, is under a lot of scrutiny in the media and online. Shkreli gave a creepy, Patrick Bateman-esque interview recently with the Washington Post that has since brought his company and his smug face to the front page of the internet. After purchasing and then increasing the price of a 62 year old drug by 5,000%, people are starting to wake up to see the horrible business tactics that go on within large pharmaceutical companies.
Now it is no secret that pharmaceutical companies reap massive profits, as well as invest billions of dollars, with these products, but this is the first time that a CEO has been so openly honest about the sole purpose of increasing the cost simply for profit. Prior to the purchase of the drug by Turing Pharmaceuticals, each pill sold for $13.50. Now, the cost is being increased by 5,000% to $700 per tablet. The tablet, called Daraprim, was first approved in 1953, and treats rare infectious disease and toxoplasmosis.
While we live in America, a capitalist society, where the weak get trampled and the strong prosper, this certainly is sickening. While increasing the price is wrong, from a CEO’s perspective, they need to cut costs and increase revenue. What seems to be making so many angry is the disgusting, sociopathic grin he had on his face when he was openly talking about making money off of very sick people.
In this day and age, where billionaire philanthropists are donating huge amounts of their net worth to help fight diseases, this sad little man is taking advantage of some of the sickest and most helpless people in the world. Each pill only costs one dollar to produce, so they are already making money off of it. Now, he is just squeezing every penny he can.
It certainly is sad that there are people in the world like this. He is selfish, narcissistic, and a shell of a real human being. While it is horrible what Martin is doing, we can all be happy that his wrongdoings are finally coming to the general public, and maybe this can change the way big pharmaceutical companies deal with their clients.