Question

Turing Pharmaceuticals purchased the drug Daraprim from another company and raised the price from $13.50 per pill to $750 per pill, a 5000% increase. The drug is used to treat toxoplasmosis, a parasitic diease that affects people with weakened immune systems. The CEO justified the price increase by saying that less than 2000 Americans take the pill annually making it one of the least used drugs and that the larger profit margins would allow the company to do research to improve treatment and educate doctors. After the announcement, politicians began discussions of regulating the pharmaceutical industry. Discuss: 1. Was the CEO's action ethical and or socially responsible in your opinion 2. Do you think the government should have some regulation on drugs that may mean the difference between life or death 3. Do you believe this was price gouging or just simple supply and demand?

Answer 1