Deadly. The very definition of 'greedy capitalist'

Hedge Fund Manager Buys Rights To Critical Drug, Hikes Price By 5000%

This is enough to make anyone sick.

Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.

The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.

The hedge fund manager responsible for the price increase is named Martin Shkreli. Shkreli has a reputation as some type of wunderkind, having started his own hedge fund company while still in his 20's. Shkreli has already drawn attention for urging the FDA not to approve drugs made by companies whose stocks Shkreli was shorting. In July 20012, Citizens for Responsibility and Ethics in Washington called for an investigation of Shkreli and others whom it charged were manipulating the prices of drug company stocks through blog posts intended to spread negative and purportedly misleading information about certain drugs. According to CREW, Mr. Shkreli has acknowledged he has no medical expertise whatsoever. His company stands to increase sales in the magnitude of tens or even hundreds of millions of dollars from the price increase, according to the article.

(DailyKOS)

NOTE: Daraprim is used to treat Toxoplasmosis and malaria.

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