Question
5. In 2016, an incident of price gouging raised issues similar to those in the Heinz and the Drug discussion in this chapter. Turing Pharmaceuticals
5. In 2016, an incident of price gouging raised issues similar to those in the Heinz and the Drug discussion in this chapter. Turing Pharmaceuticals purchased the right to the prescription drug Diaprim, a life-saving drug that treats toxoplasmosis, an infection that affects people with compromised immune systems, particularly those with HIV/AIDS and some forms of cancer. Lacking competition for their drug, Turing raised the price from $13.50 per tablet to $750 per tablet or an increase of 5,000%. The reason given for the increase was to help the company fund its research work on toxoplasmosis, along with new education programs for the disease. Turing's CEO, Martin Shkreli, explained that it was a great business decision that benefited the company's stakeholders. From an ethical perspective, what's wrong with a pharmaceutical company charging whatever price the market will bear?
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