The CEO of a drug company accused of jacking up the price of what had been a cheap anti-malaria drug has been arrested on securities fraud charges.
Martin Shkreli, 32, is the CEO of Turing Pharmaceuticals, and he's someone Congress has had its eye on since he bought the company and boosted the price of the drug Daraprim by 5,000 percent. That move led to immediate criticism from Democrats, but even some Republicans who said Shkreli was unfairly leveraging a monopoly to take money from sick people.
Before Shkreli took over, Daraprim cost $13.50 per tablet of the lifesaving drug, but the company now wants $750.
According to Bloomberg, Shkreli was arrested in New York Thursday morning on securities fraud charges.Read more on WashingtonExaminer.com