Fortune 11/20/2015

Merck CEO Blasts Company that Raised Drug Prices 5,000%

Don’t mistake Turing Pharmaceuticals, the drug company that raised the price a life-saving treatment by more than 5,000% in August, for the whole of the pharmaceutical industry, said Merck & Co. CEO Kenneth Frazier.

“Turing is not the market,” said Frazier. “The CEO spooled up manufacturing in a case where other people left the market. This is a hedge fund guy masquerading as a pharma exec.”

Read the full article here.

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