The article features an interview with Martin Shkreli, a 32-year-old entrepreneur and CEO of Turing Pharmaceuticals. Shkreli gained notoriety for increasing the price of the life-saving drug Daraprim from $13.50 to $750 per pill, a 5,000% price hike. He defends his decision, stating that the company needs to make a profit to invest in research and development. Shkreli claims that his company spends 60% of its revenue on R&D, compared to the industry average of 15%. He also argues that the price hike will not significantly impact healthcare premiums, as drugs only account for 20% of healthcare costs.
Shkreli also discusses his personal life, revealing that he has been fascinated by infections since his sister fell ill with a mysterious infection. He believes that his company is doing good by investing in research and development, and that the price hike is necessary to achieve this goal.
The interview also touches on the topic of the Wu-Tang Clan album that Shkreli purchased for $2 million. He states that he may never release the album, and has even considered destroying it to prevent it from being reconstructed.
Throughout the interview, Shkreli comes across as confident and unapologetic about his business decisions. He believes that he is being unfairly targeted by the media and the public, and that his company is being unfairly criticized for its pricing practices.
Here are the key facts extracted from the text:
1. Martin Shkreli raised the price of the drug Daraprim by more than 5,000 percent.
2. Daraprim is used to treat HIV-positive patients.
3. The original price of Daraprim was $1,350 per pill.
4. After the price increase, Daraprim cost $750 per pill.
5. Martin Shkreli is a 32-year-old entrepreneur from Sheepshead Bay, Brooklyn.
6. Shkreli has been indicted on securities fraud charges and is under investigation by Congress and the Federal Trade Commission.
7. Shkreli's company, Turing, sells Daraprim to the government for $1 per pill.
8. Turing sells Daraprim to companies like Walmart and ExxonMobil for $750 per pill.
9. Shkreli claims that his company spends 60% of its revenue on research and development, compared to the industry average of 15%.
10. Shkreli's company is working on a new version of Daraprim that will be safer and more effective.
11. The US is one of the few countries that does not set drug prices, leaving it to the companies to determine prices.
12. Martin Shkreli purchased the only copy of the Wu-Tang Clan album "Once Upon a Time in Shaolin" for $2 million.
13. The album has not been publicly released and Shkreli has considered destroying it or giving it away for free.
14. Shkreli has been arrested and is under investigation, and there is a possibility that the album could be seized by the government.