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.
Price gouging like this in the specialty drug market is outrageous. Tomorrow I'll lay out a plan to take it on. -H https://t.co/9Z0Aw7aI6h— Hillary Clinton (@HillaryClinton) September 21, 2015
this dude is evil pic.twitter.com/QGmIllw3S5— Jonathan Frandzone (@NotAllBhas) September 21, 2015
i'm not normally like wow i wish this person would die but this AIDS drug hedge fund guy should probably fall into a pit of flaming garbage— ＤＯＧ_ＰＥＴＴＥＲ６６６ (@aardvarkwizard) September 21, 2015
Hedge fund managers make a living charging people to gamble with their money. And now one of these fuckers is profiteering off sick people.— Rocket Bees (@OrdQuelu) September 21, 2015
Shkreli told the Times that the price increase was to fund additional research for new drugs, but few seemed to buy that argument -- even other companies in the pharmaceutical industry.
A note to me from a biotech CEO (he asked I not share his name) re: Turing Pharma & Daraprim price hike. pic.twitter.com/hEyW2eeM5a— Adam Feuerstein (@adamfeuerstein) September 21, 2015
Shkreli appeared on a variety of news programs including Bloomberg and CNBC to defend himself. He also quoted Eminem on Twitter.
http://t.co/co6Fmwk3XXAnd it seems like the media immediately points a finger at me So I point one back at em, but not the index or pinkie— Martin Shkreli (@MartinShkreli) September 21, 2015