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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.

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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Pharmaceutical CEO: $750 is a ‘more appropriate’ price for $13 AIDS medicine

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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.”

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.

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

Watch video below from Bloomberg TV:

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CNN

Mitch McConnell busted on CNN as the ‘ringmaster’ leaving the door open for more Russian election interference

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On Tuesday, CNN's John Avlon broke down how Senate Majority Leader Mitch McConnell (R-KY) is every bit the obstacle to secure and safe elections as President Donald Trump is.

"There should be things that transcend petty politics, and towards the top of that list is stopping foreign powers from interfering in our elections," said Avlon, playing a clip of former special counsel Robert Mueller warning about the dangers. "Robert Mueller's warning is again, falling on willfully deaf ears. We know that foreign powers continue to try to meddle in our elections. Trump's FBI director and Director of National Intelligence have made this crystal clear."

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2020 Election

CNN panel destroys Trump’s mass arrest threat of millions as a wildly unrealistic Orlando rally stunt

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The panel on CNN's New Day cast a jaundiced eye at a threat Donald Trump made on Monday night where he threatened mass arrests of millions of immigrant families as part of an ICE operation.

On Twitter, the president wrote: "Next week ICE will begin the process of removing the millions of illegal aliens who have illicitly found their way into the United States. They will be removed as fast as they come in. Mexico, using their strong immigration laws, is doing a very good job of stopping people."

According to one panelist on CNN, the president's threat was timed as a political stunt, with the contributor Jackie Kucinich calling it "rally-fodder" before his Orlando campaign kickoff.

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MSNBC’s Morning Joe and Mika hilariously taunt Trump over lousy ratings for his ABC interview: He didn’t even beat ‘Family Feud’

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President Donald Trump sees his poll numbers as the same thing as television ratings, according to panelists on MSNBC's "Morning Joe."

Host Joe Scarborough and others shared anecdotes showing the president's obsession with poll numbers and TV ratings, and his compulsion to push back when those popularity metrics are challenged.

"You have to to think back to that period you just described, 2015-2016, when reporters would go up to the 26th floor of Trump Tower," said Washington Post reporter Robert Costa. "President Trump would have all these framed ratings from 'The Apprentice' in picture frames on the wall. He would use the phrase ratings, and he would interchange it with the discussion of polling. He would say, 'My ratings are doing really well.'"

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