Posted by Michael Wonder on 11 Sep 2018
Pharma executive says he had 'moral requirement' to raise drug price 400%
11 September 2018 - A pharmaceutical company executive defended his company's recent 400% drug price increase, telling the Financial Times that his company had a "moral requirement to sell the product at the highest price."
The head of the US FDA blasted the executive in a response on Twitter.
Nirmal Mulye, founder and president of Nostrum Pharmaceuticals, commented in a story Tuesday about the decision to raise the price of an antibiotic mixture called nitrofurantoin from about $500 per bottle to more than $2,300. The drug is listed by the World Health Organization as an "essential" medicine for lower urinary tract infections.
