Page 91 - CL Armchair Case

DARAPRIM

Shkreli often portrayed as an entrepreneur, hedge fund

investor bought Turing Pharmaceuticals and then acquired

and raised the cost of Daraprim, a life-saving drug for

people with HIV and weakened immune systems from

£13.50 per pill to £750 a 5,556% rise.

Daraprim costs about $1 to produce and fights

toxoplasmosis, the second most common food borne

disease, which can easily infect people whose immune

systems have been weakened by HIV, chemotherapy,

malaria or pregnancy.

- 2010 GlaxoSmithKline sold marketing rights of

Daraprim to CorePharma. Daraprim sold for $1 per

pill.

- 2014 Impax Laboratories bought Core and affiliated

companies for $700m

- 2015 (Aug) Impax sold Daraprim to Turing

Pharmaceuticals for $55m. On the same day Turing

announced it had raised $90m from Mr. Shkreli and

other investors.