.PLEASE ANSER:
Is Turing implementing a sound business strategy? Why or why not? (please make sure to specify what business strategy do you think the company follows).
Turing Pharmaceuticals AG (Turing), a privately held, New York-based biopharmaceutical company, came under fire in the third quarter of fiscal year (FY) 2015/16 for increasing the price of one of its drugs, Daraprim (pyrimethamine), from US$13.50² to $750.00 a pill. Martin Shkreli, the founder and former chief executive officer (CEO) of Turing, was subjected to scrutiny and outrage-inducing media headlines, such as one by Vice News-"This Is How Drug Companies Jack Up Their Prices and Hurt Patients"³_ and another by USA Today-"Company Hikes Price 5,000% for Drug That Fights Complication of AIDS, Cancer." The media circulated many emotional stories of affected patients, including that of Isla Weston. Isla, a four-month old girl born to Shannon Weston and her husband, Joshua, was diagnosed with congenital toxoplasmosis, a parasitic infection that had occurred during pregnancy. Isla was asymptomatic at birth, but without immediate treatment, she would have likely experienced brain damage and blindness. When their insurance company refused to cover the needed medication, Isla’s parents considered taking a second mortgage on their home, cashing in their retirement plan, and finding a benefactor to help provide the $360,000 needed for Isla's year of treatment. The University of North Carolina was able to help the Westons, providing them with Daraprim for $48 a month. In a testimony before the U.S. Congress, Shannon expressed her gratitude: "I am so grateful that this option was found before it was too late for my daughter." The high cost of health care in the United States could be attributed to the rising cost of medications; for Isla, the rising cost was a single price increase of more than 5,000 per cent in the price of Daraprim. The drug, which had been on the market for decades and went off-patent in 1970, was primarily used to treat toxoplasmosis a parasitic disease easily contracted by patients suffering with weakened immune systems due to HIV/AIDS, cancer, pregnancy, or organ transplant.