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Pharma CEO: It's a 'Moral Requirement' to Raise Prices

Michael Rainey

Nostrum Laboratories, a small pharmaceutical firm based in Missouri, raised the price of the antibiotic nitrofurantoin from $474.75 to $2,392 a bottle last month. Here is how the CEO, Nirmal Mulye, justified the price increase for the 65-year old drug to the Financial Times:

  • “I think it is a moral requirement to make money when you can … to sell the product for the highest price.”
  • “I agree with Martin Shkreli that when he raised the price of his drug he was within his rights because he had to reward his shareholders.”
  • “If he’s the only one selling it then he can make as much money as he can ... This is a capitalist economy and if you can’t make money you can’t stay in business.”

(h/t Axios Vitals)

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