The Martin Shkreli thread

Thomas More

Crow
Protestant
Reviving this thread out of dormant. 'Pharma bro' is back into the news.






‘Pharma bro’ Martin Shkreli released from federal prison and into New York halfway house​



Interesting news. This guy is real slime. I expect he be back to his old tricks one way or another soon.
 

Enoch

Hummingbird
Interesting news. This guy is real slime. I expect he be back to his old tricks one way or another soon.
I've always like Shkreli. He did mislead some institutional investors (poor babies) who were ultimately made whole.

What do you dislike about him specifically?
 

Thomas More

Crow
Protestant
I've always like Shkreli. He did mislead some institutional investors (poor babies) who were ultimately made whole.

What do you dislike about him specifically?
Perhaps I am misinformed. My understanding is that he gained control of an existing drug, that had a modest price, and jacked the price up 40x higher. I see this as extortion. A person from a country with socialized medicine would probably say this is an example of everything that is wrong with American healthcare generally, and big Pharma in particular.

The thing is, it's not just him. Big Pharma in general has been pursuing the approach of having fantastically high prices for new drugs. They say "We have a cure for Hepatitis C, but it will cost $100k for the meds, not to mention anything your doctor or hospital manage to charge. It's your money or your life."

Of course, the Hep C treatment is unusual, in that it's $1000/pill, but after an 8-12 week course of treatment, you're totally cured, and don't have to pay any more. Normally Big Pharma shoots for pricing like this on treatments for chronic conditions.

So, I see Shkreli as the poster boy for this kind of thing. Is there some way in which this is not true? Did he not actually jack up the price on an existing drug by 40X to deliver shareholder value for his (((stockholders)))?
 

Enoch

Hummingbird
Shkreli did indeed buy the patent for Daraprim and increase the price 4000%. He is on record in several places defending the economics of that decision, specifically that so few people require the drug that the price per pill must be insanely high to keep producing it.

The drug was primarily for HIV positive gays. Did they have the right to buy this drug at a low cost? A court thought so and Shkreli eventually had to pay.

Should drugs not be patented? Should the patents be owned by the government? Should the government provide price controls on pharmaceutical products? Maybe the vaccinated/and or minorities can get a government discount in that case.
 

C-Note

Hummingbird
Other Christian
Gold Member
Shkreli was convicted of fraud for reportedly lying to investors about how he was using their money. That appears to be true. However, the way the feds have come after him seems to support his claims that the government has a vendetta against him.

The guy really seems to know his way around money. I suspect that his time in the Big House has given him some good ideas about starting a new business to recoup the $7 million the government confiscated from him. It will be interesting, because I expect the feds will be trying to bring him down again. The mainstream media really dislike him, for whatever reason. They seem to be scared of him.
 
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