Pharma CEO: Why aren’t we creating more $1 pills?
December 20, 2015
One CEO says there are ways to spare consumers staggering drug costs like the 5,000 percent hike on Daraprim
In the fall, Martin Shkreli became the new face of corporate greed when his company Turing Pharmaceuticals raised the price of an HIV treatment called Daraprim more than 5,000 percent. (He has since resigned as Turing’s CEO, after being charged with securities fraud in an unrelated matter.) In response to that price hike, one company, Imprimis Pharmaceuticals, took the industry by surprise, releasing an alternative that cost just $1 a pill. In this excerpt from America Tonight, Michael Okwu went behind the scenes of Imprimis with CEO Mark Baum, who says he hopes his strategy changes the way his industry does business.