Pharma CEO Martin Shkreli goes down

[MinnBobber]

Shkreli, at his new company Turing Pharamceuticals, had jacked up the price of the anti-parasitic drug Daraprim by more than 5,500 percent.

Shkreli, who was arrested Thursday morning on securities fraud charges, has effectively waved a red flag for months in front of federal prosecutors, keeping himself in the media glare with a hugely controversial price hike of a drug that benefits AIDS patients, pregnant women and cancer patients.
................................
hope they throw the book at him.
I think another company said they'd make/sell that drug for $1 a pill and still make money.
His company was charging $750 a pill.

EDIT-- sure hope we can keep big pharma out of the cannabis scene.
Here in MN, medical cannabis does not allow flowers, just extracts . Patients' bills run form $300-$2,000 per month.

 

[Crohnie]

Ah! The sweet smell of social justice!

 

[seaofgreens]

I remember seeing the little weasel on the news talking about how he had found this aston martin of drugs being sold for the price of a bicycle, and he toothily smirked as he said he was just correcting the price. I think the drug was for something unimportant like edit: yeah, AIDS.

To see this just a couple months later. Absolutely priceless.

 

[gaseous_clay]

Normally I do not condone prison rape. However in this case, I hope he gets a cellmate who had someone very close to him taking this medication. Taking it for AIDS.

I also do not tend to hope that people get that horrible disease. I do however root for karma quite often, and would not shed a single tear if somehow he ends up getting a taste of his own medicine, quite literally.

Fuck him and anybody else who smirks while screwing people just to get rich.

 

[DDave]

sure hope we can keep big pharma out of the cannabis scene.

When the feds legalize it, big pharma will begin....

But unless they take away our right to grow our own, they will never win!

 

[MinnBobber]

When the feds legalize it, big pharma will begin....

But unless they take away our right to grow our own, they will never win!

.......................................................................................
It seems the most the feds will do is say they will not interfere with states deciding to allow cannabis.
So it likely won't make it legal, but rather keep feds from interfering with states on the matter.

Some states will still be keeping it illegal or have their BS laws like MN MMJ where no flowers are allowed, NO HOME GROW, only 2 suppliers, very limited med conditions, very high prices = only 600 patients in the whole state....

 

[Vakas]

Has anyone looked into what his reasoning was for doing the price increase?


"
The drug Daraprim has been on the market for over 60 years. Shkreli says it's an "ancient medicine" and that his company is working on a better treatment. Turing did not invent Daraprim. The company bought it over the summer and then hiked the price.

"Our price increase is a good thing for patients because until now no one has been interested in developing a new drug for [the infection] toxoplasmosis," Shkreli tweeted.

Daraprim is used to treat an infection. Some AIDS and cancer patients need it to fight the infection since their immune systems are so weak.

Turing does have a website for patients using Daraprim that lists where to call or email if someone needs the drug and can't afford it.

"Our policies ensure none of our patients have to pay more than $0.20 per pill out-of-pocket, not $750," Shkreli claims."

http://money.cnn.com/2015/10/09/investing/drug-ceo-daraprim-price/

 

[HomeFree]

I was quick to jump on that guys case but read something about the FDA regulated him so much he had to increase the price, or so goes the story. I'm not sure if that is the truth or not. Everything is not always as it seems.

If he did increase it without having increased costs due to regulation foisted upon him, shame on him, and he will certainly pay the pauper for that action.

How in the hell is increasing the cost of a drug good for a patient?

I don't know if you have seen any picture or video of the guy, but he is very obviously on some drugs. Look at his eyes. They are fixed and dilated in the one or two interviews I have seen of him, and I would imagine some pretty bright lights are shone on folks giving interviews, or anything in a television studio.

it's a very interesting story, but like all stories there are three sides: his, hers, and the truth. We will probably never know the truth. I just did a google search and it looks like he is out of jail. I wouldn't be surprised if someone tried to take him out either outside or inside of prison.

 

[HellsWindStaff]

I just want to know whats going to happen to the only copy of Once Upon a Time in Shaolin

Agree nice to see karma bite him

 

[howie105]

As immoral as price gouging is it is also part of capitalism so we live with it. Sad, but even when you have a big media coverage events (natural disasters or man made ones) there is usually the gratuitous warning about price gouging. Sometimes warnings help and sometimes they don't because warning don't address the basic pins of supply and demand.

 

[grokit]

Price gouging is symptomatic of a rigged market, not a free one.
Capitalism, the way we practice it, is both inequitable and unsustainable.