Nirmal Mulye, the CEO of a small Missouri-based drug company called Nostrum Laboratories, has raised the price of his drug, nitrofurantoin, from $474.75 to $2,392 per bottle last month, reports the Financial Times. Nitrofurantoin is an antibiotic used to treat urinary tract infections and is classified by the World Health Organization as an essential medicine due to its importance. So the thing you want to do is make the drug as pricey as possible, obviously.
Shkreli Jr.–er, Mulye–defended his price gouging by saying he has a “moral requirement to make money when you can.” Mulye then went on to try to rationalize his greed at the cost of others’ suffering by saying his price gouging is no different than Apple charging more for iPhones and automakers charging more for cars. Of course, those products aren’t designed to save lives–not that the argument matters. After all, Mulye has morality on his side.
Recognize your brand’s excellence by applying to this year’s Brands That Matter Awards before the early-rate deadline, May 3.
