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From the Archives | Big Pharma CEO: ‘We’re in Business of Shareholder Profit, Not Helping The Sick.’

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  • According to several media outlets, Valeant has increased the price of 56 of the drugs in its portfolio an average of 66 percent
  • Related: From the Archives | Goldman Sachs Asks ‘Is Curing Patients A Sustainable Business Model?’

Ron Delancer, POLITICAL D!G

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http://evergreenedigest.org/sites/default/files/People%20Over%20Profit%20Sign.jpgOct 17, 2016 | Last July, Turing Pharmaceuticals’ CEO Martin Shkreli became a lightning rod for growing outrage over soaring prescription drug prices after he raised the price of a newly-acquired drug from $13.50 to $750. But Shkreli, who earned the title ‘the most hated man in America,’ is not the only one acquiring drugs currently on the market to raise their price and, in turn, rapidly drive up their stock price.



“My primary responsibility is to Valeant shareholders.We we will act appropriately in terms of doing what I assume our shareholders would like us to do,” Pearson said.



J. Michael Pearson, the CEO of Valeant Pharmaceuticals has enraged the internet after saying in a recent interview with MSNBC that “his company’s responsibility is to its shareholders, not the customers who rely on his drugs to live.”

http://evergreenedigest.org/sites/default/files/Healthcare%20%26%20Money_0.jpgRon Delancer is a senior political reporter and contributor to POLITICAL DIG. DeLancer joined PD in 2015 after a decade in Washington D.C. covering domestic and international politics for the Capitol News Service, an independent wire service. He's also a documentary filmmaker.

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Related:

From the Archives | Goldman Sachs Asks ‘Is Curing Patients A Sustainable Business Model? CBS Local, New York, NY

Gilead Sciences’ 90 percent cure rate of hepatitis C will reportedly send its sales plunging from $12.5 billion in 2015 to less than $4 billion this year.

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