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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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The View’s Meghan McCain thinks Pam Bondi did a good job: ‘We’re talking about Hunter Biden on the show’

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"The View" co-host Meghan McCain praised President Donald Trump's defense team for changing the subject in the impeachment trial.

Her fellow panelists criticized Trump's lawyers for throwing up a "smokescreen" by attacking former President Barack Obama, former Vice President Joe Biden and his son Hunter Biden -- but McCain thought their defense was effective.

"I watched a bit of Pam Bondi yesterday when I was home, and I, along with 51 percent of the American public, according to 538 which is a pollster, by the way, that works for ABC News, in case you want to question this poll, think this is a bad use of Congress' time."

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Rick Santorum: ‘I have no problem’ with John Bolton testifying after ‘this impeachment thing’ is over

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Conservative CNN contributor Rick Santorum asserted on Tuesday that former National Security Adviser John Bolton should wait until after President Donald Trump's impeachment trial ends to reveal what he knows about the president's scheme in Ukraine.

"The only thing I would question is sort of the timing of submitting the book for review," Santorum said during an appearance on CNN. "I mean, you're doing it at a time -- knowing the history of what goes on in this White House, that leaks are prevalent -- to submit this manuscript at this time, I think was bad judgement."

"I have no problem with John Bolton writing a book," he continued. "This is someone who deeply believes in his worldview and what is best for America and I think he felt compelled to write something about the state of foreign policy in America and where our country is going."

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‘The president’s lying — that should matter!’ CNN’s Berman unloads on GOP for blowing off Bolton revelations

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CNN's John Berman on Tuesday expressed frustration at the idea that Republican senators could still vote to acquit President Donald Trump even after leaked excerpts of former national security adviser John Bolton's book further implicated the president.

During a panel discussion about Bolton's book, which reportedly alleges that Trump directly linked releasing military aid to Ukraine with investigations into former Vice President Joe Biden, New York Times reporter Maggie Haberman warned that the book may not be the big game changer that many have been hoping to see.

"I'm somewhat more skeptical that this is going to necessarily lead to witnesses," she said. "It might. I just think that we really don't know, and I think the desire for Republicans to have this wrapped up fairly quickly remains strong."

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