The New York Attorney General has launched an investigation into a company that raised the price of AIDS drug Daraprim by 5500%.
Martin Shkreli, the 32-year-old founder and chief executive of Turing Pharmaceuticals, came under fire last month after buying the rights to 62-year-old drug Daraprim.
The drug costs less than $1 per tablet to make, and is used to treat conditions including AIDS-related toxoplasmosis.
However, Shkreli last month attempted to dramatically increaser the price of the drug from $13.50 per tablet to $750 – an increase of 5500%.
He later publicly pledged “to lower the price of Daraprim to a point that is more affordable” – though the drug has since remained at the high price point.
New York’s attorney general this week launched a probe into Turing Pharmaceuticals over the move, which may have violated the law.
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