Price-Gouging Pharma CEO Martin Shkreli: ‘I Would Have Raised’ Daraprim Price Higher If I Could (VIDEO)

Turing Pharmaceuticals CEO Martin Shkreli is, in almost every sense, the living embodinemt of unfettered capitalism. After raising the price of Daraprim, a drug used to treat toxoplasmosis that is needed by many AIDS and cancer patients, by 5,000% overnight, the former hedge funder and unctuous taint blemish promised he would lower the price of the drug at an unspecified date by an unspecified amount — a vow he broke shortly after voicing it. In fact, Shkreli now says that if he could replay the time of the controversy, he would have raised the price even higher than he already did.

On Thursday during a forum hosted by Forbes, Shkreli was asked what he would do differently if he had the chance to relive the past few months. He replied:

“I probably would have raised the price higher is probably what I would have done.”

“I think health care prices are inelastic,” Shkreli explained. “I could have raised it higher and made more profits for my shareholders” — which is what he says is his “primary duty” rather than patient care.

“No one wants to say it, no one’s proud of it,” he added. “But this is a capitalist society, capitalist system, capitalist rules. And my investors expect me to maximize profits. Not minimize them, or go half, or go 70 percent, but to go to 100 percent of the profit curve that we’re all taught in MBA class.” Shkreli says the money he is spending on research and development will “maximize the long-term earnings,” and that his company is currently developing three drugs to treat toxoplasmosis — all of which will be “very expensive if they ever get approved” — drugs that were not mentioned in a recent financiasl report from the company that detailed planned research expenditures.

Shkreli’s company lost $14.9 million in a single quarter following the genius decision to raise the price of Daraprim, and it will likely lose a lot more. Recently, another company announced the production of a $1 alternative to Daraprim — which will be covered by ExpressScripts, the U.S.’s biggest prescription drug benefit manager.

Watch Shkreli prove he still has no shame, below:


Featured Image via screen capture