A better CEO might have done the same thing more gradually and more successfully. This guy seemed to be trying to make a philosophical point - "I should raise prices a life-saving drug because I can."
There is a problem with that kind of strategy. A government can decide to change the rules in ways designed to remove or limit his power and a government might do it "because it can."
I thought that there was an edge of arrogance to the way this guy handled this issue that might not be in the best long-term interests of the business.
That’s the idiocy of the whole story. This guy could have charged $750 or $750,000 for a single pill, but since ObamaCare has mandated insurance coverage for everyone then he’s never selling these drugs directly to patients anyway — which means he has to negotiate the prices directly with insurance carriers and government agencies. And I can assure you that he’d be lucky to get $1.50 per dose if he’s getting paid through a Medicaid reimbursement.
**** “I thought that there was an edge of arrogance to the way this guy handled this issue that might not be in the best long-term interests of the business” ****
Well if he had plans on destroying the business, he just took his cues from Obama and in that realm he like Obama are succeeding in their respective endeavors.