Martin Shkreli Case Summary

Often called one of the most hated man in America, Martin Shkreli is an American businessman and investor who was CEO of Turing Pharmaceuticals. What led him to receive this label was his decision to increase the price of the drug Daraprim from $13.50 a tablet to $750 overnight. Daraprim is a drug that is used to treat a parasitic disease called toxoplasmosis that afflicts patients with HIV, AIDS, and cancer. Shkreli claims that the current version of the drug is harmful and so he believes that new versions of the drug needs to be developed with the profits made from the current version of Daraprim. In reality, he spiked the price to increase revenue to show to his investors that his company is profitable. “My investors expect me to maximize
We do not agree with Shkreli’s decision to increase the price of Daraprim overnight as well as the choices he made with spending the profits generated from the drug. Our recommendation is that Shkreli should have listened to his partner's suggestion to incrementally increase the price throughout the year so he could have avoided the scrutiny from the media while showing consideration and sensitivity towards the patients who need Daraprim. Shkreli’s insensitive approach to his decision-making was lacking consideration to patients who are actually in need of the drug. As a result, he is now labeled as a villain. In this paper we will discuss how his personality, leadership style, and decision making brought him to be perceived today as the poster child for capitalistic greed and how he fell over to the dark side of characteristic
He displays a lack of remorse for the negative consequences his decision had on patients who are in need of Daraprim. When asked by the U.S. Congress what he thinks about the situation where a woman who is in dire need of Daraprim and cannot afford it, thus may die due to her inability to obtain the drug, he replies with “no comment.” He has a tendency to be arrogant, and has a grandiose sense of self-importance. In a retort against an interviewer as to why he raised the price overnight, he said: “It's a great business decision that also benefits all of our stakeholders, I don't expect the likes of you to process that” (Carroll). When asked what he would do if he had a chance to do things over, after knowing the negative impacts his decision has on patients, he says that he “probably would have raised the price higher” (Rockoff). These traits exemplify the characteristics of the Dark Triad: machiavellianism, narcissism, and psychopathy. Having these traits directly reflects his leadership abilities. Shkreli appears to possess most of the traits of a charismatic leader, but unfortunately for him, he has entered the “dark side” of a charismatic leader as he is labeled a villain for this decision. He does not act in the best interest of his organization as he does not seem to care if his company is in a negative spotlight. Nor does he care about the patients who fall victim to the