If you can't charge "hundreds of thousands" of dollars a year for drugs, there will be no drugs for orphan diseases, Joe Edelman, Perceptive Advisors CEO, told CNBC's "Fast Money: Halftime Report."
"I think high drug prices are actually good," Edelman said Thursday. "And the reason they're good is, let's say you have a disease. I'll use an example of Alzheimer's. Very risky to develop a drug. You want the reward to be great. ... You're not going to spend a billion dollars and take all these risks to charge the typical $10,000 a year on a drug."
Edelman's firm manages $1.3 billion in assets and was the best performing hedge fund last year, seeing a return of more than 51 percent.