Tag Archives: price gouging

CNN Business reports: Cal-Maine Foods, the largest egg producer in the United States, reported revenue doubled and profit surged 718% last quarter because of sharply higher egg prices. The company, which controls about 20% of the US egg market according to Reuters, said its average selling price for a dozen eggs in the quarter ending February 25 was $3.30, more …

Reuters reports: Amazon.com Inc should stop third-party sellers from price gouging for items like Purell hand sanitizer as people seek to protect themselves from the coronavirus, U.S. Senator Edward Markey said in a letter to the online retailer on Wednesday. A box of small Purell bottles that usually sells for $10 was listed online for $400, he said. One third-party …

Raw Story reports: Appearing on Bloomberg TV, the CEO of a pharmaceutical company that recently hiked the price of a drug used for critically ill infants and AIDS patients by 5,500 percent, defended the price increase by promising better things to come for future patients. Martin Shkreli, 32, the founder and chief executive of Turing Pharmaceuticals, recently purchased the rights …