A hedge fund manager bought an AIDS drug, then raised the price from $13.50 to $750

By Michael Avery in Bizarre On 21st September 2015


Sharpen your pitchforks and light the torches the Internet is approaching full-on angry mob mode.

And this time, it just might be warranted.

A former hedge fund manager purchased the rights to a drug that's been used for 62 years to treat parasitic infections, then hiked the price from around $13.50 per tablet to $750. The New York Times first reported on the price hike on Monday, leading to near immediate outrage.

The drug is called Daraprim and it is used primarily to treat infants and people who have weakened immune systems most notably those who have AIDS. It's among the most common treatments for life-threatening parasitic infections.

Turing Pharmaceuticals bought the rights to the drug in August and soon raised the price. Turing was founded by ex-hedge fund manager Martin Shkreli, 32.

He is now the Internet's public enemy No. 1.


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Shkreli told the Times that the price increase was to fund additional research for new drugs, but few seemed to buy that argument even other companies in the pharmaceutical industry.

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Shkreli appeared on a variety of news programs including Bloomberg and CNBC to defend himself. He also quoted Eminem on Twitter.


So how terrible is this guy, really? Let us know in the comments.