Quick Hits: Pharma Bro’s Monopolized Drug Goes Generic

The drug's price increased from $13.50 to $750 overnight.

Pharma Bro Martin Shkreli
Pharma Bro Martin Shkreli
CNBC

Chances are the first time you heard about the drug Daraprim was in 2015, when a young man by the name of Martin Shkreli purchased the patent and increased the price 5,000%. The stunt earned Shkreli the nickname “Pharma Bro” and made international headlines. A recent CNN article reported that the FDA has approved the first generic version of the drug. 

Daraprim treats a parasitic infection that can cause damage to the brain, eyes, and other organs. The infection can stem from undercooked meat, contaminated water, or contact with infected cat feces. Today, Shkreli reportedly runs his pharmaceutical company from prison on a contraband smartphone. 

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