The pharmaceutical company defends a 400% increase in the price of a bottle of antibiotic, says it is a moral requirement & # 039;

Nirmal Mulye, CEO of Nostrum Laboratories, defended his company's decision to raise the price of an antibiotic

Nirmal Mulye, CEO of Nostrum Laboratories, defended his company's decision to raise the price of an antibiotic

Nirmal Mulye, CEO of Nostrum Laboratories, defended his company's decision to raise the price of an antibiotic

A pharmaceutical executive defended the decision to increase the price of an antibiotic to more than $ 2,000 per bottle because companies have a "moral requirement" to "sell the product at the highest price."

Nirmal Mulye, the CEO of Nostrum Laboratories, also defended the famous & # 39; pharmacist & # 39; Martin Shkreli, who became one of the most hated men in the country for raising the price of a vital drug against AIDS in 5,000 percent.

Mulye responded to criticism of his company's decision last month to quadruple the price of a bottle of nitrofurantoin.

The price of a bottle rose 400 percent, from $ 474.75 to $ 2,392, the Financial Times reported.

Nitrofurantoin is an antibiotic that is used to treat bladder infections. It is considered an essential medicine by the World Health Organization.

Nostrum, which is based in Missouri, manufactures the drug in liquid form.

Mulye defended his company, saying that the price increase was necessary to remain competitive.

"I think it's a moral requirement to make money when you can." . . to sell the product for the highest price, "said Mulye.

Mulye responded to criticism of his company's decision last month to quadruple the price of a bottle of nitrofurantoin. The price of a bottle went from $ 474.75 to $ 2,392. The image above is a file photo of a variety of antibiotics

Mulye responded to criticism of his company's decision last month to quadruple the price of a bottle of nitrofurantoin. The price of a bottle went from $ 474.75 to $ 2,392. The image above is a file photo of a variety of antibiotics

Mulye responded to criticism of his company's decision last month to quadruple the price of a bottle of nitrofurantoin. The price of a bottle went from $ 474.75 to $ 2,392. The image above is a file photo of a variety of antibiotics

Nostrum, which is based in Missouri, manufactures the drug in liquid form. Mulye defended his company, saying that the price increase was necessary to stay competitive

Nostrum, which is based in Missouri, manufactures the drug in liquid form. Mulye defended his company, saying that the price increase was necessary to stay competitive

Nostrum, which is based in Missouri, manufactures the drug in liquid form. Mulye defended his company, saying that the price increase was necessary to stay competitive

He said that the company's price increase was a response to an increase in price by a competitor, Casper Pharma.

That company recently increased the price of Furadantin by 182 percent, which makes a bottle worth $ 2,800.

"The point here is that the only other option is the brand at the highest price – it's still a savings, regardless of whether it's big or not," Mulye said.

He said he was in this business to make money & # 39; and that it was no different from an art dealer who sells a painting for half a billion. of dollars.

Mulye was also asked about Shkreli, who was sentenced to prison earlier this year on fraud charges unrelated to his decision to increase the price of Daraprim, AIDS and cancer, from $ 13.50 per tablet to $ 750 per tablet. .

"I agree with Martin Shkreli that when he raised the price of his drug, it was within his rights because he had to reward his shareholders," Mulye said.

Mulye was also asked about Shkreli, who was sentenced to prison earlier this year on fraud charges unrelated to his decision to increase the price of Daraprim, AIDS and cancer, from $ 13.50 per tablet to $ 750 per tablet. . Shkreli seen upstairs in New York in December 2015

Mulye was also asked about Shkreli, who was sentenced to prison earlier this year on fraud charges unrelated to his decision to increase the price of Daraprim, AIDS and cancer, from $ 13.50 per tablet to $ 750 per tablet. . Shkreli seen upstairs in New York in December 2015

Mulye was also asked about Shkreli, who was sentenced to prison earlier this year on fraud charges unrelated to his decision to increase the price of Daraprim, AIDS and cancer, from $ 13.50 per tablet to $ 750 per tablet. . Shkreli seen upstairs in New York in December 2015

He said that because Shkreli's company was the only one that manufactured that drug, he did the right thing in trying to maximize profits.

"If he is the only one who sells it, then he can earn as much money as he can," Mulye said.

"This is a capitalist economy and if you can not make money you can not continue in the business."

& # 39; We have to earn money when we can.

"The price of iPhones increases, the price of cars increases, hotel rooms are very expensive."

Pharmaceutical companies have raised the price of the antibiotic due to a reduction in supply caused by the new regulations of the Food and Drug Administration.

FDA Commissioner Scott Gottlieb reacted angrily to Mulye's comments. "There is no moral imperative to calculate the price and take advantage of patients," Gottlieb tweeted Tuesday.

FDA Commissioner Scott Gottlieb reacted angrily to Mulye's comments. "There is no moral imperative to calculate the price and take advantage of patients," Gottlieb tweeted Tuesday.

FDA Commissioner Scott Gottlieb reacted angrily to Mulye's comments. "There is no moral imperative to calculate the price and take advantage of patients," Gottlieb tweeted Tuesday.

FDA Commissioner Scott Gottlieb reacted angrily to Mulye's comments.

"There is no moral imperative to put a price on gupos and take advantage of patients," Gottlieb tweeted Tuesday.

"The FDA will continue to promote competition so that speculators and those who do not take into account the consequences for public health can not take advantage of patients who need medication."

Mulye called the FDA "incompetent and corrupt" while dismissing the new regulations on liquid drugs as "nonsense."

He also accused the federal government of & # 39; stealing on the highway & # 39; due to the rates that companies had to pay.

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