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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.
Shkreli's company raised the price on a drug called Daraprim from $13.50 a pill to $750 overnight. The Daily Beast quickly declared Shkreli the most-hated man in the United States, surpassing the dentist who killed Cecil the Lion. The drug is used by some AIDS and cancer patients. It's been around for 62 years, but Shkreli's company bought the rights to it from another firm in August. The main use of the drug is to treat life-threatening parasitic infections.