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Ex-hedge funder buys rights to AIDS drug and raises price from $13.50 to $750 per pill

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A former hedge fund manager turned pharmaceutical businessman has purchased the rights to a 62-year-old drug used for treating life-threatening parasitic infections, and raised the price overnight from $13.50 per tablet to $750.  According to the New York Times, Martin Shkreli, 32, the founder and chief executive of Turing Pharmaceuticals, purchased the rights to Daraprim for $55 million on the same day that Turing announced it had raised $90 million from Shkreli and other investors in its first round of financing.

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Meryl Ann Butler is an artist, author, educator and OpedNews Managing Editor who has been actively engaged in utilizing the arts as stepping-stones toward joy-filled wellbeing since she was a hippie. She began writing for OpEdNews in Feb, 2004. She became a Senior Editor in August 2012 and Managing Editor in January, (more...)
 

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