I know that you have been sitting on the edge of your chairs waiting to find out who would take the Gordon Gekko Golden Hemorrhoid Prize. This year Jamie Dimon is not going to be able win as newcomer, Martin Shkreli, has established a lead too substantial to overcome.

Starting in Australia: Daraprim drug price increased by more than 5,500% after being acquired by Turing Pharmaceuticals

The price of a drug used to treat a life-threatening parasitic infection has increased from $US13.50 per tablet to $US750, after being acquired by a start-up founded by a former hedge fund investor.

Turing Pharmaceuticals, founded by 32-year-old Martin Shkreli, acquired the drug Daraprim in August for $55 million and shortly raised the price of the treatment.
…

“This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,” Mr Shkreli said.

He said Daraprim was “still underpriced” in comparison to other drugs used to treat rare diseases, adding that many patients used the drug for less than a year.

“This is still one of the smallest pharmaceutical products in the world,” he said.

The BBC coverage includes the fact that the manufacturing cost is $1.00.

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Position: 20.9N 46.8W [10PM CDT 0300 UTC].
Movement: East-Southeast [120°] near 2 mph [ 4 kph].
Maximum sustained winds: 40 mph [ 75 kph].
Wind Gusts: 55 mph [ 90 kph].
Tropical Storm Wind Radius: 175 miles [280 km].
Minimum central pressure: 1005 mb.

Currently about 1075 miles [1730 km] East of the Leeward Islands.

Ida has reversed course. There is no strong steering current for the storm.

Here’s the link for NOAA’s latest satellite images.

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