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Benzinga
Benzinga
Business
Ivy Grace

'Pharma Bro' CEO Jacked Price of A Life-Saving Drug From $13.50 to $750 Per Pill Overnight — And His Reason? 'We Needed to Turn a Profit'

Genetic,Research,And,Biotech,Science,Concept.,Human,Biology,And,Pharmaceutical

Imagine needing a medication that costs less than a fast-food meal—only to wake up the next day and find it's suddenly priced like a luxury car payment…per single pill.

That's exactly what happened in 2015 when Martin Shkreli, a hedge fund manager turned pharmaceutical executive, decided to hike the price of Daraprim, a drug used to treat toxoplasmosis. Overnight, a 5,456% increase made him the face of greed in medicine. The internet quickly gave him a nickname he'll never shake: "Pharma Bro."

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