If Martin Shkreli, the young hedge fund manager-turned-pharmaceutical executive who made news last month by jacking up the price of a life-saving medication by 5,000 percent, was surprised by the scorn his decision provoked, it was because his behavior was rather common.
That's according to an analysis released by Hedge Clippers, an activist group that exposes what it views as predatory behavior by Hedge Fund managers. In its report, the group points to evidence that hedge funds and private equity firms have been the driving force behind exponential increases in drug prices.
"Out of the twenty-five drugs with the fastest-rising prices over the past two years, twenty are owned or have been acquired by firms with significant activity from hedge fund, private equity, or venture capital firms," said the group in a report.
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