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  • 05.20.16

The real reason why pharma companies give a lot of money to charity

It’s to cover up drug price hikes, a report in Bloomberg News has found. 

That’s why the first thing controversial former Turing Pharmaceuticals CEO Martin Shkreli did after raising the price for a drug 5,000% is contact a charity. In a nutshell, according to the report:

A million-dollar contribution from a pharmaceutical company to a copay charity can keep hundreds of patients from abandoning a newly pricey drug, enabling the donor to collect many millions from Medicare.

Great for Shkreli. Not so great for sick people or taxpayers.CF