Twitter shreds drug profiteer Martin Shkreli for increasing cost of common

But the price hike sparked outrage from medical groups representing doctors who care for patients with HIV and other infectious diseases, because Daraprim treats patients with compromised immune systems.

Martin Shkreli, the brazen young chief executive of Turing, said in an interview his company raised the price because “the drug was unprofitable at its former price; this drug was practically being given away, so people are sort of fooled by the math”.

In the latest example of out-of-control drug prices, startup Turing Pharmaceuticals has increased the price of a newly acquired drug by more than 5,000 percent. Now, it costs $750 a tablet.

Shkreli said the drug is so rarely used that its impact on the health system would be slight and that any profits made would be used to fund its research work on toxoplasmosis.

“The enormous, overnight price increase for Daraprim is just the latest in a long list of skyrocketing price increases for certain critical medications”, Sanders and Cummings said.

And what has been the response of Martin Shkreli, the founder and CEO of Turing?

‘This is still one of the smallest pharmaceutical products in the world.

For now, major medical associations are hoping that public pressure might convince Turing to reconsider its pricing.

This isn’t the first instance of a dramatic price increase, but though some increased are caused by drug shortages, others are a strategic business move. Rodelis GM Scott Spencer offered another flimsy excuse, arguing the firm had to make large investments to make sure the supply of the drug remained reliable.

“Price gouging like this in the specialty drug market is outrageous”, she said, citing Daraprim.

The guy in the photo above is not only taking back all your Sundays, he’s also keen on potentially receiving some of your money.

Meanwhile, Dr. Wendy Armstrong, professor of infectious diseases at Emory University, questioned Turing’s claim that there is a need for an updated version of the Daraprim after more than 60 years of physicians successfully using the drug.