In September 2015, Martin Shkreli hit the mainstream news when his company raised the price of a drug used in AIDS treatment by over 5000% percent. He became the focus point for a lot of the anger and confusion that Americans feel about pharmaceutical companies and the healthcare system in general.
Today, we’re going to look at how Shkreli was able to make such a huge price hike and how the pharmaceutical industry works. Of course, we’ll need to put this in the context of the wider healthcare industry but, as you should know, this is an incredibly complicated area so we can only cover a fraction of it.
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