Turing pharmaceutical
Lack of controversy in companies that are involved in drug business is often seldom. For the sake of profits companies have had to break ethical boundaries affecting stakeholders in various ways. Turing Company that was run by the well renowned Martin Shkreli, Turing was founded in 2015 after martin departed from another company, Retrophin a pharmaceutical company. The business opportunity that the Turing manager executed was plainly unethical. The company decided that it will obtain the out of patient medicine and re-evaluate the prices on the on-set of the new company; the company had no need to bring its own drug to the market. Since obtaining the license of a generic drug in the United States, is very expensive and the approval of the drug is lengthy process. With this opportunity it created a space where it had no competition and they had closed their distribution, so it decided to hike the prices of drugs.
The drug daraprim (pyrimethamine) this was a drug that was approved by the FDA in 1953, for the total amount of $55 million. The drug was used mostly an anti-malaria treatment and in ant parasitic conditions, this means it was used to treat mostly patients with AIDS and malaria or those prone to parasitic attacks. After buying the company, the company kept to the strategy of pricing, the price of a dose of the drug in the United States market went from US$13.50 to US$750 per pill. This ethical issue impacts a lot of individuals and stakeholders including patents hospital sand organizations. The government has had the manager of the company went for a testimony before the congress, he was subpoenaed by the Committee on Oversight and Government Reform
