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By now, you’ve probably heard of Martin Shkreli.
Over the past week, the 32-year-old has become public enemy No. 1 thanks to his company’s decision to raise the price of a life-saving drug by more than 4,000 percent, from $1,130 to $63,000.
Prescription pricing is a strange thing to stir such rage, however. After all, Daraprim, the drug in question, is not widely used. It treats a potentially deadly condition called toxoplasmosis that primarily effects people with compromised immune systems, such as newborns and HIV patients.
Moreover, “Pharma bro,” as Shkreli quickly became known, is not the first person to corner the market on a drug and then hike its price — although he is a frequent offender.
So how did Shkreli become the Internet’s latest villain?
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Much of the reason lies with the former hedge fund manager’s unabashed pursuit of profit.
Although Shkreli has delivered different, at times conflicting statements about why his company, Turing Pharmaceuticals, raised the price of Daraprim, his answer has often boiled down to this: because… capitalism.
So perhaps it’s no surprise that Shkreli, a brash, young CEO who defiantly quotes hip hop artists on social media, has suddenly become a lightning rod.
Take one of his first comments on the current controversy. When confronted Sunday on Twitter by a journalist covering the drug industry, Shkreli said hiking the price of Daraprim was simply a “business decision.”
Read full, original post: ‘Pharma bro’ Martin Shkreli and the very American debate over maximizing profit
