Martin Shkreli, CEO of Turing Pharmaceuticals, became the most hated person on the Internet when his company raised the cost of life-saving medication Daraprim from around $13.50 per pill to $750 per pill.
That’s an increase of over 5,000 percent.
This happened back in September. Now, his company has received its latest quarterly earnings report.
The news wan’t good for the 32-year-old CEO and his oft-ridiculed company.
The company was down $14.6 million for the quarter.
This comes after Turing was drastically undercut by another pharmaceuticals company, Impiris, who created their own version of Daraprim that will be sold for just $1 per pill.
According to GOOD magazine, the company blames the loss on research-and-development efforts, including its quest to create a new method to help people suffering from depression and PTSD.
It must be noted, however, that Daraprim actually made money for Shkreli and Turing Pharmaceuticals.
The company reported a net gain of $5.6 million on the drug.
He has also stated that he will not take a cash salary from the company, which is developing several drugs to treat cancer.