A former hedge fund manager is facing widespread outrage after his startup company Turing Pharmaceuticals hiked the price of a life-saving drug by more than 5,000 percent. The drug Daraprim is used to treat a disease caused by a common parasite, which can afflict patients with HIV. Turing founder Martin Shkreli attempted to justify the price hike in an interview with Bloomberg TV.

Martin Shkreli: “So, you know, at the end of the day, the price per course of treatment to save your life was only $1,000, and we know these days in modern pharmaceuticals, cancer drugs can cost $100,000 or more, whereas these drugs can cost half a million dollars. Daraprim is still underpriced relative to its peers.”

Betty Liu: “But my understanding was that to actually produce this pill, what, cost only a dollar?”

Martin Shkreli: “It costs very little to make Daraprim.”

Democratic presidential candidate Hillary Clinton said in a tweet, “Price-gouging like this in the specialty drug market is outrageous.”