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WATCH: Ex-hedge funder who hiked AIDS pill cost by 5,500 percent says drug ‘still underpriced’

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Appearing on Bloomberg TV, the CEO of a pharmaceutical company that recently hiked the price of a drug used for critically ill infants and AIDS patients by 5,500 percent , defended the price increase by promising better things to come for future patients.

Martin Shkreli, 32, the founder and chief executive of Turing Pharmaceuticals, recently purchased the rights to Daraprim and immediately increased the cost from $13.50 to $750 per pill.

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Asked why the huge increase in cost, Shkreli explained that the old companies who owned the drug were “practically giving it away almost,” and he needs to turn a profit.

Noting that the pill sold for $13.50 and the course of treatment “to save your life was only a $1,000,” Shrkeli said he had to make a change.

“We know, these days, in modern pharmaceuticals, cancer drugs can cost $100,000 or more, whereas these drugs can cost a half of a million dollars,” he explained. “Daraprim is still under-priced relative to its peers.”

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Asked if the pill really only costs $1 to manufacture, Shkreli agreed and said, “It costs very little to make Daraprim.”

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Shkreli then listed off manufacturing, distribution, and FDA costs as well as paying the people “who make it to specifications.”

Pressed even further on the $750 cost per pill, the CEO defended the price by noting how much it brought into the pharmaceutical company annually.

“This drug was making $5 million in revenue,” he said with a smile. “And I don’t think you can find a drug company on this planet that can make money on $5 million in revenue.”

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Shkreli stated that the drug is made for a “very very tough disease.”

“It requires a lot of attention and focus. The drug company needs to partner with the patients and make sure that it’s a very cared for community. And that costs a lot of money too,” pointing out that the company also “gives away” the drug for $1 for those who can’t afford it.

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Shkreli added: “Patients now have a powerful ally in our company.”

Watch video below from Bloomberg TV:

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Dershowitz is running a ‘bizarro defense’ of Trump: Harvard Law colleague says ‘Alan is just completely wacko’

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Two of the most famous names associated with Harvard Law School had competing appearances on MSNBC on Friday.

It began when Alan Dershowitz, a professor emeritus, was interviewed MSNBC chief legal correspondent Ari Melber about his new role officially representing President Donald Trump during the Senate impeachment trial.

Dershowitz claimed that neither abuse of power nor obstruction of Congress count as "high crimes" under the constitution.

Professor Alan Dershowitz, who has also been associated with Harvard Law for five decades, was asked about Dershowitz's argument during an interview with Chris Hayes.

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Trump’s big-money Florida fundraiser expected to bring in $10 million — from only 100 people

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President Donald Trump flew to Mar-a-Lago on Friday after receiving a formal summons from the U.S. Senate informing him of his impeachment trial.

The president will be attending a Friday evening campaign fundraiser.

The recipient of the money is Trump Victory, which is a joint fundraising committee set up by Donald J. Trump for President, Inc. and the Republican National Committee.

“Tonight’s Trump Victory fundraiser is expected to raise $10 million with approximately 100 people in attendance," the campaign told the White House pool reporter.

https://twitter.com/realDonaldTrump/status/1218264289225728000

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Lev Parnas has Trump ‘unnerved’: ex-FBI official says the president doesn’t know what he ‘has up his sleeve’

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President Donald Trump is "very nervous" about what Lev Parnas may have on him, a former top FBI official suggested on MSNBC on Friday.

Former FBI Assistant Director for Counterintelligence was interviewed by MSNBC's Peter Alexander.

The host played clips of Trump denying any relationship with Parnas.

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