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Martin Shkreli, former CEO of Turing Pharmaceuticals AG, was arrested for allegedly misleading investors and looting a publicly traded company. Prior to his arrest, Mr. Shkreli had become despised for raising the price of a drug that fights AIDS.
According to the New York Times, Martin enraged customers when he increased the price of one pill from $13.50 to $750! He claimed, “To owe it to his investors to maximize their profit.”
Proverbs 11:6 teaches, “The righteousness of the upright will deliver them, But the treacherous will be caught by their own greed.”
The pursuit of short term gains can destroy shareholder returns long term, especially when it’s more about greed than about building a winning business strategy.
Price increases are a legitimate part of business, but examine your motives before making major changes.
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