The Martin Shkreli thread

Thomas More

Thomas More

Crow
Protestant
budoslavic said:
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​


www.cnbc.com

'Pharma bro' Martin Shkreli released from federal prison and into New York halfway house

Martin Shkreli will his securities fraud sentence in September. He gained infamy for raising the price of a drug by more than 4,000%.
www.cnbc.com www.cnbc.com
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Interesting news. This guy is real slime. I expect he be back to his old tricks one way or another soon.
 
E

Enoch

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

Thomas More

Crow
Protestant
Enoch said:
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?
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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)))?
 
E

Enoch

Ostrich
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

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.
 
B

BasilSeal

Kingfisher
Trad Catholic
Gold Member
Hey Martin, whatcha up to?

Well, if you like drugs and crypto -- I have this, powered by my new token $MSI...

RELEASE DATE:
7/25/22
Announcing Druglike – a Web3 Drug Discovery Platform

July 25th, 2022 — Druglike, a Web3 drug discovery software platform co-founded by Martin Shkreli, today released a demo, website, and whitepaper detailing its efforts to democratize the costs, access, and rewards of computational drug discovery.

"We started Druglike because in our experience, traditional drug discovery software is tood ifficult and expensive to use,” said Martin Shkreli, Co-Founder of Druglike. “Druglike will remove barriers to early-stage drug discovery, increase innovation and allow a broader group of contributors to share the rewards.”
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