Thursday, November 19, 2015

CEO Martin Shkreli loses $14.6 million on His Overpriced AIDS Drug


Remember CEO Martin Shkreli? He's the evil genus who bought the rights to AIDS drug Daraprim and raised the price by over 5,000 percent, making each pill go from $13.50 to $750. Well, karma just paid him a visit.

Turing Pharmaceuticals has reported a $14.6 million net loss in their third-quarter.
Here's more:
In mid-August, the pharmaceutical company purchased the rights of Daraprim and raised the price by over 5,000 percent, making the cost of the pill rocket from $13.50 (£8.70) a tablet to $750 (£485). The drug is used by patients with AIDS or cancer to fight the Toxoplasma gondii parasite. More than 60 million Americans carry the parasite without coming to harm, but it can lead to seizures, blindness or neurological damage to those with a compromised immune system. Medical groups, politicians and the public were understandably outraged at the move, while CEO Martin Shkreli became an online piƱata.
I love it. Serves Martin right for being a major asshole.

source