Kansas City has its own price-gouging pharmaceutical company

Down in the East Bottoms, at 1800 North Topping Avenue, is a pharmaceutical company called Nostrum Laboratories. This company makes a drug called nitrofurantoin, which is an antibiotic that treats urinary tract infections. Nitrofurantoin is categorized as an essential medicine by the World Health Organization.

Last month, Nostrum’s CEO, a man by the name of Nirmal Mulye, decided to quadruple the price of this drug. It used to be $475 for a bottle of this medication. It now costs $2,300 a bottle.

Why did Mulye do this? Because he believes he has a “moral requirement to sell the product at the highest price.”

That is a direct quote he gave to the Financial Times. A moral requirement to gouge sick people who need the drug he makes.

Read more: https://www.thepitchkc.com/news/article/21022337/nostrum-laboratories-kansas-citys-very-own-pricegouging-pharmaceutical-company

Make sure to read the update at the end of the article.