Turing CEO Martin Shkreli has raised the price of Daraprim (a drug used to treat AIDS patients) by 5000% after raising the price of a kidney medication by 1900% just last year. People depend on these drugs to survive. His business model involves buying the rights to old drugs for which there are no adequate substitutes and jacking up the price to astronomical levels. While Martin Shkreli is an extreme example, price gouging within the monopolistic market of prescription drugs happens all the time. We therefore petition the Obama administration to introduce legislation which would make this sort of price gouging illegal, whether by subjecting all price increases to an annual review or by some other means such as weakening patent protection to allow for greater competition.
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