Page 55 - Turing News Today

Whos come to embody the excesses of american corporate greed, its the man now known as pharma bro. martin shkreli, the 32-year-old founder and ceo of turing pharmaceuticals caused an uproar when his company jacked up the price of a drug used to treat a deadly infection by 5,000%. now, shkreli blamed the massive increase on market forces telling cnbc "it was effectively built into his companys purchase of the patent. >> we definitely planned on raising the price. thats for sure. we paid a very, v...

Now to a medical story drawing reaction. imprimis pharmaceuticals announced its taking on a notorious $750 pill with another alternative life-saving drug and this is far cheaper. it sells for just $1. the company says that it can still make a profit. young la takes us inside the lab and the controversy. >> this is the markets answer to price gouging. >> how much is each pill here? >> each pill is 99 cents. >> just under a buck a pill. pair that to turing pharmaceuticals. >> it was $18. >> it was...

The constitution above their religion. and donald trump refusing to apologize for not correcting a supporter who went on an anti-muslim tirade. when stevphen colbert asked him where the president was born last night, trump refused to answer. the ceo of turing pharmaceuticals agreeing to lower the cost of a drug that treats infects in hiv and cancer patients. he backed down after criticism. he hiked the price of daraprim more than 5,000% from 13.50 to $750 a tablet from one day to the next afte...

Its east to want to villenize people and obviously we are in an election cycle where its easy for people to point fingers. >> this morning, hillary clinton unveiled her own health care plan to decrease prescription costs and attacked turing for what she called price gouging. >> pharmaceutical companies that acquire an existing affordable drug that people rely on it, and then turn around and charge a fortune for it, just bet on the fact that desperate people will find some way to pay for it. that...

To treat a deadly parasitic infection. it used to cost 13.50 per pill. turing changed the cost to $750 a pill. hillary clinton blasted that rate hike this >> thats produce gouging pure and simple. >> reporter: the hiv medicine association sent a joint letter calling the increase unjustifiable for the medically vulnerable patient population. in a previous interview with cbs news, screlly called the increase an altruistic move that would have helped fund research. >> with these new profits we can ...

A firestorm after its price hike of 5,000% for a drug thats been around for 62 years. the heat now being felt from wall street to the campaign trail. its enough to make you sick. drug prices not doubling or tripling, but in some cases soaring $2,000, $3,000, even $5,000! the latest bombshell by a company called turing fa pharmaceuticals which recent i had acquired a drug and raised the price from $13.50 to $758 a tablet. >> right now theres no regulation in place that says this company cant pric...

Price. so any company selling it would be losing money. and at this price its a reasonable profit, not excessive at all. >> you see how greedy this move looks. >> yeah, i could see how it looks greedy but theres a lot of altruistic properties to it. no doubt im a capitalist. im trying to create a big drug company, profitable drug company, were trying to flourish but our primary stake holders are patients. >> be careful abefore you call for this guys head. its the free market that provides the pr...

Gouging pointing to a 5,000% hike on one drug. wall street betting a president hillary clinton would not be good for the bio-tech industry. stocks tumbled after comments of price gouging. she called out the drug used to treat a life threatening parasitic infection. it was bought by turing pharmaceuticals. the price jumped from $13.50 a tablet to $750. that puts the cost of treatment into hundreds of thousands for some. the companys ceo said many big pharmaceutical companies are worse. he says ...

Pill. daraprim which has been on the market for 62 years is used to treat an infection that affects many aids and cancer patients, along with pregnant women. for many of those patients, that raises their annual cost of treatment by hundreds of thousands of dollars. in an appearance on cnbc, 32-year-old ceo, a former hedge fund trader, vowed not to drop the price. >> did you not expect a 5,000% price increase would result in that kind of attention? >> maybe, maybe not. it really depends how focus...

Hail mary, this just one of them. netanyahu claimed the arab voters are coming to the ballot booths in hoards and being driven by buses and if the jewish population doesnt get -- they will determine the next government, kind of unprecedented appeal to i would call the lower common denominator. hes done several steps like this and their team is he is turning to the right. not turning to the center. hes turing to the right. the reason is he thinks the most important thing is for him to be the lead...