Drug goes from $13.50 to $750 overnight

[norse1]

Doesn't work that way. Everything bad is blamed on Obamacare. Anything good is due to something other than Obamacare. Get with the program mcpapa. Obamacare is gonna kill us all.

Has anyone seen a death squad yet? I have few people to suggest to them..

[MayfieldFan]

Has anyone seen a death squad yet? I have few people to suggest to them..

 

Not yet, I think the plan is:

 

First they weaken the american spirit with Obamacare. Then they take the guns. Then the death squads. Then Obama declares himself dictator. Then sharia law.

[norse1]

Not yet, I think the plan is:

 

First they weaken the american spirit with Obamacare. Then they take the guns. Then the death squads. Then Obama declares himself dictator. Then sharia law.

I miss the good old days when Obama. was just a member of a crazy lunatic church.. Still trying to figure out what a Muslim is doing hanging out with Rev Jeremiah Wright

 

Obama's Pastor: God Damn America, U.S. to Blame for 9/11 - ABC News

[mcpapa]

Not yet, I think the plan is:

 

First they weaken the american spirit with Obamacare. Then they take the guns. Then the death squads. Then Obama declares himself dictator. Then sharia law.

 

He's gonna have to get on the stick. Time's a-wastin'.

[LIPTON BASH]

Doesn't work that way. Everything bad is blamed on Obamacare. Anything good is due to something other than Obamacare. Get with the program mcpapa. Obamacare is gonna kill us all.

 

How would a private company reacting have anything to do with government control?

[SportsGuy41017]

Doesn't work that way. Everything bad is blamed on Obamacare. Anything good is due to something other than Obamacare. Get with the program mcpapa. Obamacare is gonna kill us all.

 

...

[SportsGuy41017]

He has now been summoned to appear before the US Senate for a hearing on price gouging in the pharmaceutical industry.

[HammerTime]

He has now been summoned to appear before the US Senate for a hearing on price gouging in the pharmaceutical industry.

 

That's great. What would realistically come of that?

[Jim Schue]

That's great. What would realistically come of that?

 

A public shaming. Worked so well for Dee Snyder, Frank Zappa, John Denver, Mark McGwire, Rafael Palmiero, Sammy Sosa, Oil Executives, etc.

[SportsGuy41017]

That's great. What would realistically come of that?

 

Hopefully better regulations to deal with this issue. Pharma boy hopefully spent 50+ million for nothing as recently a pharmaceutical is now making the same drug at a cost of about a dollar a pill, and they said that they will produce other drugs that people like this guy price gouge on.

[Clyde]

Company owner has been arrested for securities fraud.

[lawildcat]

I left out the last line of the story when copying it here. If you read the story in the link, you'll know why. Dude is a straight up jerk. :ohbrother:

 

http://www.nydailynews.com/news/national/martin-shkreli-detested-pharma-ceo-arrested-report-article-1.2468546

 

Maybe he can sell that Wu Tang album for bail.

 

The much-hated pharmaceutical entrepreneur who jacked up the price of a life-saving AIDS pill by more than 5,000% was arrested for securities fraud.

 

Martin Shkreli, Turing Pharma's CEO who bought Wu Tang’s one-of-a-kind album for a reported $2 million earlier this month, was taken into FBI custody early Thursday amid a federal investigation related to his former hedge fund.

 

Manhattan lawyer Evan Greebel was arrested on similar charges.

 

While notorious for his work at the helm of the drug company, Shkreli's fraud charge comes from his previous work leading a biotech firm and a hedge fund.

 

The 32-year-old is accused of illegally using funds from Retrophin, a biotechnology company he founded in 2011, to pay off debts from his failed hedge fund, MSMB Capital Management.

 

Both Shkreli and Greebel are expected to be arraigned in Brooklyn Thursday afternoon.

 

Shkreli rose to infamy earlier this year after Turing Pharmaceuticals raised the price of Daraprim — a 62-year-old drug that fights against the life-threatening parasite toxoplasmosis and protects cancer and AIDS patients — to $750 per tablet from $13.50.

 

The pill costs about $1 to produce.

 

The ire against Shkreli has not waned since the hike.

 

Earlier this month, the “pharma bro” said he wished he raised the price even more.

 

“I could have raised it higher and made more profits for our shareholders, which is my primary duty,” he said. “No one wants to say it, no one's proud of it, but this is a capitalist society, capitalist system and capitalist rules, and my investors expect to me to maximize profits.”

 

Meanwhile, Shkreli announced his new company, KaloBios Pharmaceuticals, Inc., will jack up the price of a drug that fights the deadly parasitic infection Chagas disease.

 

The misogynic CEO then outraged music fans when he said he has no plans to stream the new Wu-Tang album after he bought the sole copy for millions.

[SportsGuy41017]

Martin Shkreli Arrested on Securities Fraud Charges

[HammerTime]

Martin Shkreli Arrested on Securities Fraud Charges

 

A boyish drug company entrepreneur, who rocketed to infamy by jacking up the price of a life-saving pill from $13.50 to $750, was arrested by federal agents at his Manhattan home early Thursday morning on securities fraud related to a firm he founded.

 

Martin Shkreli, 32, ignited a firestorm over drug prices in September and became a symbol of defiant greed. The federal case against him has nothing to do with pharmaceutical costs, however. Prosecutors in Brooklyn charged him with illegally taking stock from Retrophin Inc., a biotechnology firm he started in 2011, and using it to pay off debts from unrelated business dealings. He was later ousted from the company, where he’d been chief executive officer, and sued by its board.

[HammerTime]