Drug goes from $13.50 to $750 overnight

[doubledeuce]

We are a free-market society, correct?

 

To a certain extent.

[Clyde]

To a certain extent.

 

If there is no great barrier to entry for other companies to make alternatives to this drug then I struggle to tell a company how they should price their product.

 

If the govt is somehow prohibiting alternatives then that's on them. They created the monster.

[plantmanky]

Are you saying other companies have tried to create an alternative but were denied?

 

Not sure, last time I tried my FDA clearance only got me to the water fountain.

[OlDog75]

Where is Obamacare to stop this from happening?

 

:lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol::lol:

[spindoc]

First, I don't think regulation of this entity is too difficult. It's really just a matter of fiscal oversight. Not remotely difficult. However, like I've posted here time and again and won't bother in this thread, please google the top 2 lobbies (by a ridiculous margin by the way) and you'll see the source of a lack of desire to develop oversight. Instead, we get the ACA which is the single worst piece of legislation stuffed down the gullets of this country in my lifetime, but that's for another thread.

[John Anthony]

You can put a price on life apparently.

[SportsGuy41017]

He had hacked into some accounts and then harassed that guys wife and young teenage son.

 

[SportsGuy41017]

He also said to that guys wife:

 

“I hope to see you and your four children homeless and will do whatever I can to assure this"

[Bluegrasscard]

Seems a pattern by the CEO...

 

Shkreli's Turing Pharma banks $90M in a murky funding round - FierceBiotech

Since founding Turing last year, Shkreli has taken a page from what made Retrophin a high-profile--and controversial--player among small biotech companies. Retrophin's stated goal was ferreting out value in biopharma by acquiring assets with potential in rare and neglected diseases, a process that can mean acquiring an underused drug and jacking up its cost to take advantage of rare disease pricing."

 

 

[MayfieldFan]

This guy looks kinda young. Can we dress him up and send him over to those Afghan guys from the other thread?

[SportsGuy41017]

It turns out that Martin Shkreli, the former hedge manager turned pharmaceutical businessmen who jacked the price of a life-saving drug from $13.50 per tablet to $750, is actually worse than we thought.

 

His tweets can be broken down into three sometimes overlapping main categories: (1) Tweets about how rich he is, (2) Tweets about how his critics are just jealous haters who shouldn’t f&*( with him, (3) Tweets in which he compares himself to rapper Eminem, (4) Retweets of other people’s tweets which praise him and attack his critics. Let’s take a look, shall we?

 

 

These 37 tweets show how the pharma CEO gouging AIDS patients is even worse than you think

[SportsGuy41017]

In a CNBC interview today, Turning Pharmaceuticals CEO Martin Shkreli (32 years old) said he was proud of his action in raising the AIDS drug Daraprim from $13.50 to $750, and he will do it with other drugs. The medicine Daraprim is a 62-year old drug used to treat life-threatening parasitic infections, whether involving babies or AIDs patients.

 

Turning is an ex-Hedge Fund manager who looks for crucial lifesaving drugs that are affordable. He buys the rights to the drugs, and then raises the price to astronomical amounts to make a quick, large profit.

 

The CNBC host asked Shkreli: “When you bought this company did you buy it because you knew you could raise the price?” Shkreli responded: “We definitely planned on raising the price, that’s for sure. We’ve took it to a price where we can make a comfortable profit, but not any kind of ridiculous profit.”

 

The host continued by asking if Shkreli would consider lowering the price because “doctors and patient groups are saying they can’t access this drug.” Shkreli responded: “No.”

 

This is not the first time Shkreli has been involved in offensive pharmaceutical behavior. When in his 20s, he started the hedge fund MSMB Capital, where he was accused of urging the FDA to not approve certain drugs made by companies whose stock he was shorting. In 2011, he helped form Retrophin, which also acquired older drugs and immediately raised their prices.

 

 

Pharmaceutical CEO says he is Glad he Raised Price on $13 AIDS medicine to $750: Will Do It Again

[hidinout]

What a poor man he must be .

[jericho]

Even liberals now finally see Obama Care as not meeting its goal of stopping high cost.

[John Anthony]

Hillary is after them and has already cost them a pretty penny. They went to far with the gouging.