It turns out there's a line even bros can't cross.
Martin Shkreli had to go to astonishing lengths to find it, waging a public war on HIV/AIDS and cancer patients by unapologetically price gouging a life-saving drug. The 32-year-old pharmaceutical CEO, once accurately dubbed "the most hated man in America," was taken downon Thursday, ostensibly for securities fraud. Here's what else led to what was, in many ways, a crowd-fueled citizen's arrest:
Advertisement
He Raised The Price Of A Life-Saving Drug By 5,000 Percent
Shkreli, also known as "Pharma Bro," infamously raised the price of Daraprim by a whopping 5,000 percent -- from $13.50 to $750 per tablet. The drug is primarily used to treat toxoplasmosis, an infection that affects people with compromised immune systems, particularly those with HIV/AIDS and some forms of cancer.
I like to stir the pot, but I would never, ever price a drug beyond a sick person's reach.
He defended the move as a necessary one for his company, Turing Pharmaceuticals. “This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,” he told The New York Times.
"There's no doubt, I'm a capitalist," he told CBS News. "I'm trying to create a big drug company, a successful drug company, a profitable drug company."
Advertisement
The Senate Special Committee on Aging launched a bipartisan investigation into pharmaceutical drug pricing in November after seeing "dramatic increases in the prices of pre-existing drugs," namely Daraprim, Sen. Claire McCaskill (D-Mo.) said.
When Democratic presidential frontrunner Hillary Clinton implored him to lower the price of the drug, he brushed it off:
Thursday's arrest isn't actually related to the drug price hike. Shkreli is being charged with using illegally obtained stock to pay off debt, Bloomberg reports.
After Shkreli's hedge fund MSMB Capital Management almost went bankrupt, he started biotechnology firm Retrophin in 2011.
Advertisement
Retrophin ousted him as CEO “because of serious concerns about his conduct,” the company told Bloomberg in a statement. The company then filed a complaint in federal court against him earlier this year for evidence of "self-dealing transactions" to pay back former MSMB investors.
“The $65 million Retrophin wants from me would not dent me. I feel great. I’m licking my chops over the suits I’m going to file against them," Shkreli said in response to the lawsuit.
Neither Turing Pharmaceuticals nor Retrophin responded to requests for comment. Robert Capers, the U.S. Attorney for the Eastern District of New York, will provide more details about the arrest during a press conference on Thursday.
He Bought The Only Copy Of The New Wu-Tang Clan Album
Earlier this month, Bloomberg reported that Shkreli dropped $2 million on the only existing copy of the latest Wu-Tang Clan album, "Once Upon a Time in Shaolin." for $2 million. He said he did not even plan to listen to the album, angering fans.
“If I hand you $2 million, fucking show me some respect. At least have the decency to say nothing or ‘no comment.’”
https://t.co/yr4UVdMDxe
It's just the start of Shkreli's big plans in the music space. "Within 10 years, more than half of all rap/hip-hop music will be made exclusively for me," he announced on Twitter.
Shkreli also has a habit of livestreaming himself for hours at a time on YouTube. Earlier this week, he spoke to a teenage girl for 90 minutes and told her he could write her a recommendation letter for Columbia University.
“how old is she?” one commenter asked, according to Gawker.
“NOT OLD ENOUGH,” Shkreli wrote in response.
He also called out other commenters on the live stream, showing a photo of one of them and telling him "I'm going to beat the s**t out of you."
Our 2024 Coverage Needs You
It's Another Trump-Biden Showdown — And We Need Your Help
The Future Of Democracy Is At Stake
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
The 2024 election is heating up, and women's rights, health care, voting rights, and the very future of democracy are all at stake. Donald Trump will face Joe Biden in the most consequential vote of our time. And HuffPost will be there, covering every twist and turn. America's future hangs in the balance. Would you consider contributing to support our journalism and keep it free for all during this critical season?
HuffPost believes news should be accessible to everyone, regardless of their ability to pay for it. We rely on readers like you to help fund our work. Any contribution you can make — even as little as $2 — goes directly toward supporting the impactful journalism that we will continue to produce this year. Thank you for being part of our story.
It's official: Donald Trump will face Joe Biden this fall in the presidential election. As we face the most consequential presidential election of our time, HuffPost is committed to bringing you up-to-date, accurate news about the 2024 race. While other outlets have retreated behind paywalls, you can trust our news will stay free.
But we can't do it without your help. Reader funding is one of the key ways we support our newsroom. Would you consider making a donation to help fund our news during this critical time? Your contributions are vital to supporting a free press.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you'll consider contributing to HuffPost once more.