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September 12, 2018 03:21 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/rt7E4-2vVWQ/citing-moral-requirement-to-make-money-pharma-ceo-jacks-drug-price-400
Citing 'Moral Requirement To Make Money', Pharma CEO Jacks Drug Price 400%
The chief executive of a small pharmaceutical company defended hiking the price of an essential antibiotic by more than 400 percent and told the Financial Times that he thinks "it is a moral requirement to make money when you can." From a report: Nirmal Mulye, CEO of the small Missouri-based drug company Nostrum Laboratories, raised the price of bottle of nitrofurantoin from $474.75 to $2,392 last month. The drug is a decades-old antibiotic used to treat urinary-tract infections caused by Escherichia coli and certain other Gram-negative bacteria. The World Health Organization lists nitrofurantoin as an essential medicine. In an interview with the FT, Mulye went on to say it was also a "moral requirement" to "sell the product for the highest price," and he explained that he was in "this business to make money."Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/rt7E4-2vVWQ/citing-moral-requirement-to-make-money-pharma-ceo-jacks-drug-price-400
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