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Everything to Know About the Arrested Drug Price-Hiking CEO. Victor Luckerson. Updated: Dec 18, 2015 12:48 PM ET | Originally published: Dec 17, 2015. Pharmaceutical company CEO Martin Shkreli first became notorious after he jacked up the price of a life-saving pill by more than $700 a pop earlier this year. Now, the 32-year-old entrepreneur has been arrested for securities fraud in a case tied to a separate pharma company that he used to run.
Jazz Pharmaceuticals (JAZZ) has pushed up the price of its narcolepsy drug Xyrem fourfold since 2006, and it's a good example of how prescription costs in the U.S. are out of control.Xyrem now costs as much as $35,000 per year of treatment, and the company says it could double the price again without anyone noticing.azz president Bob Myers said he's not done yet. Another 22 percent price increase was scheduled for Xyrem on Nov. 1, he said told the conference call: Even at our highest dose ... after the price increase the annual cost for 12 prescriptions per month is still only $35,000 per year.