Raising drug prices is “a moral requirement,” says Nostrum Labs CEO
#1 Shkreli Award Winner, 2018 In August 2018, Nostrum Laboratories raised the price of antibiotic nitrofurantoin by 400%, from $475 a bottle to $2,393. Nitrofurantoin is a common drug used to treat urinary tract and bladder infections that was originally approved in 1989. In response to criticism, CEO Nirmal Mulye said, “I think it is a moral requirement to make money when you can … to sell the product for the highest price.” Why is hiking the price moral? Because you “have to reward your shareholders,” Mulye said.
SOURCE: Jessie Hellman, The Hill