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Lifesaving EpiPen a ‘bargain’ even after 500% price hike ‒ Martin Shkreli

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The “most hated man in America” has defended a 500 percent price hike of the lifesaving device EpiPen. Martin Shkreli said the emergency allergy treatment was a “bargain” after the price increase, describing it as a commodity akin to an iPhone.

The former Turing CEO defended Mylan Pharmaceuticals, the company that owns EpiPen, in an interview with CBS News. Shkreli claimed Mylan made a measly 8 cents for every dollar they sold and were entitled to reap the benefits when they had a hit product.

“We all want to jump on them. They’ve been waiting for one hit product to make some money,” Shkreli said, before adding a comment that he said would be controversial: “Everyone’s thinking about the patient’s families, but no one’s thinking about Mylan’s.”

READ MORE: Senators have allergic reaction to EpiPen price hike

“Ultimately EpiPen is actually a bargain. It saves you all the cost of going to the emergency room. Just the ambulance ride can be $1,000.” Shkreli said. “Like I said, it’s $300 a pack. $300. My iPhone is $700.” – READ MORE

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