A hedge fund bro bought an AIDS drug, then raised the price from $13.50 to $750

Shkreli
Martin Shkreli is pictured in a photo from what appeared to be his Twitter account.

Sharpen your pitchforks and light the torches — the Internet is approaching full-on angry mob mode.

And this time, it just might be warranted.

A former hedge fund manager purchased the rights to a drug that’s been used for 62 years to treat parasitic infections, then hiked the price from around $13.50 per tablet to $750. The New York Times first reported on the price hike on Monday, leading to near immediate outrage.

The drug is called Daraprim and it is used primarily to treat infants and people who have weakened immune systems — most notably those who have AIDS. It’s among the most common treatments for life-threatening parasitic infections.

Turing Pharmaceuticals bought the rights to the drug in August and soon raised the price. Turing was founded by ex-hedge fund manager Martin Shkreli, 32.

He is now the Internet’s public enemy No. 1.
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Source: Mashable

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