Recently a 32 year old punk named Martin Shkreli called the nation’s attention to persistent and blatant price gouging by pharmaceutical companies. Shkreli, an ex-hedge fund manager and CEO of Turing Pharmaceuticals – a company he formed in February of 2015 - took drug price gauging to a whole new level. In August he bought the rights manufacture Daraprin, a 62 year old drug use to treat Toxoplasmosis that no other company markets. The drug is used to cure a parasitic infection which usually doesn’t bother healthy people, but is a dangerous problem for people with compromised immune systems resulting for diseases such as AIDS and cancer. In September Shkreli abruptly raised price of the medication by 5,455 percent (from $13.50 to $750 per tablet). Those who most affected by this blatant act of medical thievery are generally in very poor health and often unable to afford expensive medication.
If you would like to read about the details of this outrageous crime against the public good, I would refer you to this excellent article: Drug Company CEOs Acting More Like Drug Dealing Thugs http://www.al.com/opinion/index.ssf/2015/09/drug_company_ceos_acting_more.html
Among those who have publicly criticized Shkreli are several medical organizations; the HIV Medicine Association and the Infectious Diseases Society of America both issued statements condemning the price increase. I found it most interesting that the Pharmaceutical Research and Manufactures of America also joined in on the attack on Shkreli. They are a lobbying group representing the major pharmaceutical companies. I suspect that that they were afraid that Shkreli’s actions will bring a lot of unwanted attention to similar, though perhaps not quite as blatant, price gauging by the major pharmaceutical companies the trade association represents.
Big pharmaceutical companies have a great deal they would not want brought to the attention of the American public. They don’t want anyone else to notice....