CNNFN writes article about Twitter blows up over Martin Shkreli’s arrest:
by Paul R. La Monica @lamonicabuzz December 17, 2015: 12:14
PM ET
Drug’s crazy price hike sparks debate
Drug’s crazy price hike sparks debate
It didn’t take long for Twitter to react to the reports that pharmaceutical
executive Martin Shkreli had been arrested on Thursday morning.
Many Twitter users delighted in the news that Shkreli, a former hedge
fund manager turned biotech bad boy, had been indicted for securities
fraud charges related to his time as CEO of Retrophin.
Shkreli was fired last year by Retrophin (RTRX), a company he had
founded. Retrophin has accused him of using the company’s stock and
cash for his own personal gain. Shkreli has denied those allegations.
But he became a household name in September when his new firm, Turing
Pharmaceuticals, announced it was raising the price of Daraprim, a drug
used by AIDS and cancer patients, from $13.50 a pill to $750.
Shkreli was instantly demonized by the media and politicians. Hillary
Clinton railed against Shkreli, saying he was guilty of price gouging.
She later called Shkreli’s suggested 10% price cut of Daraprim to be
“insulting.”
A 10% price reduction is insulting. As I’ve said before, the FDA and
FTC need to step in to protect consumers.
CNNFN Article Source Here.