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

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In a defiant CNBC interview on Monday, Turning Pharmaceuticals CEO Martin Shkreli defended his decision to raise the price of the AIDS drug Daraprim from $13.50 to $750.

Shkreli asserted that the price hike was needed to fund the development of a better HIV drug, even though experts had told CNBC reporter Meg Tirrell that a new drug was unnecessary.

“What a lot of companies do is raise venture capital funding when they see an important market for a drug rather than raising the price on the current patients who need it to survive and who have no other choice but to take it and pay the higher price,” Tirrell pointed out. “Why wouldn’t you go that route?”

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Shkreli said that the company had raised $90 million, but “we also feel that this is the more appropriate price for Daraprim.”

“At this price, Daraprim is still on the low end of what drugs costs,” he explained. “And we’re certainly not the first company to raise drug prices.”

“Turing is a very small company, it’s a new company and we’re not a profitable company,” the CEO added. “So for us to try to exist and maintain a profit, I think is pretty reasonable.”

CNBC host Brian Sullivan reminded Shkreli that Daraprim had initially been a $1 drug.

“When you bought this company did you buy it because you knew you could raise the price?” Sullivan asked.

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“We definitely planned on raising the price, that’s for sure,” Shkreli admitted. “We’ve took it to a price where we can make a comfortable profit, but not any kind of ridiculous profit.”

Tirrell concluded by asking if Shkreli would consider lowering the price because “doctors and patient groups are saying they can’t access this drug.”

Shkreli responded with one word: “No.”

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Watch the video below from CNBC’s Power Lunch, broadcast Sept. 21, 2015.

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Former House lawyer explains new recording from Trump would add another ‘abuse of power’ to impeachment

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A recording was revealed Friday of President Donald Trump demanding that his staff "take out" former Ukraine Ambassador Marie Yovanovitch. Former House committee lawyer Jeremy Bash, told MSNBC that it would constitute another "abuse of power" charge.

"I think it would be another important branch and sequel to the abuse of power allegation if the president used the office, used his own authority to direct that a U.S. ambassador be either removed from that position because she was standing in the way of his political agenda -- but it seems like, from the recording, possibly even that physical harm or threats to her should ensue," said Bash.

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Trump’s spiritual guru claims prayer ‘statistically proven’ to reduce crime

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Prosperity gospel evangelist Paula White, who has long served as President Donald Trump's spiritual adviser, credits a statistical drop in crime with increased Christian prayer.

Right Wing Watch reports that White earlier this month delivered a sermon in which she said it was "statistically proven" that crime dropped after the September 11th terrorist attacks because Christians started praying more frequently.

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GOP senator blows off new evidence against Trump — days after whining that there was no new evidence

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An explosive report from ABC News on Friday morning detailed an audio recording purportedly of President Donald Trump demanding the firing of Marie Yovanovitch, in which the president instructs his henchmen to "get rid of her" and "take her out."

Sen. John Barrasso (R-WY), when asked by reporters about this new evidence Friday afternoon, blew it off as not a big deal.

"There will be new evidence every day!" he said in shrugging off the purported recording of the president. "There will be something new that comes out every day!"

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