CNN: Pharma exec says he had ‘moral requirement’ to raise drug price 400%

By Erin Elizabeth

Nirmal Mulye, the founder and president of Nostrum Pharmaceuticals, recently told the Financial Times that his company had a “moral requirement” 1 to sell a specific drug”2at the highest price.” The drug, an antibiotic mixture called nitrofurantoin, was raised from about $500 per bottle to more than $2,300. The WHO calls the drug an “essential” medicine for lower urinary tract infections.

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Mulye said, “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.”

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