Pharmaceutical giant planned to destroy stocks of cancer drugs to force price hike

One of the world’s leading drug companies considered destroying its stockpiles of life-saving cancer medicines and allegedly created artificial shortages in its attempts to profit from price hikes, the Times reports.
The South African Aspen Pharmacare drug company nurtured a plan of destroying its own cancer medicine supplies during its row with the Spanish health service in 2014. It sought to push a price increase for its products amounting to 4,000 percent, the Times reports, citing the company’s internal emails it obtained.
A cache of documents seen by the newspaper allegedly shows that Aspen took an “aggressive” approach in negotiations with Spanish