Executive fired after opposing 5,000% drug price hike

[WhiteTara]

Source: USA Today

A former vice president of the drugmaker that drew national criticism for raising the price of a parasite-fighting medication by 5,000% testified Thursday he was fired weeks after telling CEO Martin Shkreli the increase "was not justified."

Howard Dorfman, also the former top lawyer for Turing Pharmaceuticals, told a Senate committee he joined managers who told Shkreli and other company officials that hiking the price from $13.50 per pill to $750 per pill "would have a severely negative impact on Turing's business and reputation."

He said Shkreli, who later resigned from Turing and now faces unrelated federal securities fraud charges, rejected the recommendation, saying "no one cares about price increases."

"Mr. Shkreli told me that he was the most knowledgeable person with regard to this business model," Dorfman told the Senate Special Committee on Aging during the panel's second hearing about price spikes on decades-old drugs. "That I was seriously misinformed — despite my 30 years in the industry."

Read more: http://www.usatoday.com/story/money/2016/03/17/executive-fired-after-opposing-5000-drug-price-hike/81917308/

[TexasBushwhacker]

1. Shkreli could be Trump's VP! N/T

[dixiegrrrrl]

3. or Trump.

Boy, they sound alike, don't they?
No body can tell them a damn thing PLUS they have no learning curve despite all the negative effects of their behavior.

[DebbieCDC]

4. MTE

Or treasury secretary

[yurbud]

2. Translation: "You're sociopath test came back negative. You're fired!"

"We don't need conscience-having scum like you around here harshing our chill."

[xloadiex]

5. Perfect

[img][/img]

[anothergreenbus]

10. So this proves it,

physiognomy is a real science! There is such a thing as a shit eating grin and it is a good indicator of character, or lack there of.

[Yo_Mama_Been_Loggin]

13. And I'd love to wipe the smirk off of both of their faces

[Lodestar]

16. Wow...that picture is worth a billion words. n/t

[I hate liars]

6. Mr Dorfman, we need more courageous executives like you in the pharma industry

++++

[Enrique]

7. imagine you're a lawyer, and this is your boss

?quality=60&strip=all&w=620

[TexasTowelie]

9. He has small hands.

[chapdrum]

8. Poor Mr. Dorfman.

Under the illusion that his boss must yield to a (chuckle) moral imperative as to pricing.

He must not have noticed that NO corporate CEO in ANY industry is under such obligation.

Listen Howie: When the Pope gets ignored when raising issues that turn on moral considerations, there really isn't ANYTHING to stop the Shkrelis of the country.

Certainly, no law in the U.S.

[christx30]

12. He doesn't have to adhere to any kind of moral

imperative on pricing. But a CEO must weigh what the public is willing to spend on an item, and whether the price increase is justified.
Sounds like Dorfman was the only one in the leadership of that company that had a grasp of reality. And Shkreli was wrong about everything he said.
"No one's going to notice." No, the internet exploded, and it drew a LOT of negative attention to you.

[AllyCat]

11. Bad for business. That's why he opposed it

Not because it would make people sick or dead, but because it would be negative for the company.

[hamsterjill]

15. I thought that, as well.

No where does he say "because it was wrong", does he?

Sheesh...

[Stryder]

14. "parasite-fighting medication"

Looks like they want to limit it's use.
Professional courtesy, I guess.

[Lodestar]

17. Everything You Know About Martin Shkreli Is Wrong—or Is It?

http://www.vanityfair.com/news/2015/12/martin-shkreli-pharmaceuticals-ceo-interview

[Myrina]

18. He was a pharma VP -- he gets no pass.

I'm sure he has a nice comfy offshore cushion with which to buy groceries until his next job comes along.

[Liberal_in_LA]

19. kick

[Dont call me Shirley]

20. He should start a hedge fund company which buys up drugs and keeps them at affordable prices

for the sick, at the same time keeping them out of the hands of creeps like Skrill.