U.S. Pharmaceutical Company Raises Price of AIDS Medication 5500%

By Anthony Zurcher

Shortly after acquiring the rights to Daraprim, a 62-year-old AIDS medication, Turing Pharmaceuticals increased its price from $13.50 to $750. Turing CEO Martin Shkreli, a former hedge fund manager, defended the decision even though the pill costs only $1 to produce. The company insists it will use the additional proceeds to fund research in the field, and Shkreli has argued that marketing and distribution costs are often not taken into account when criticizing such decisions. Nonetheless, the criticism has been quite intense, with many calling the cost “unjustifiable” and “unsustainable.” Presidential candidate Hillary Clinton even weighed in, pledging to take action against firms hiking prices of specialty drugs like Daraprim.