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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsIt is people like this that you really wish KARMA would come back and bite him in the ass
I saw this punk this morning on Bloomberg. I would love someone to wipe that smirk off that punk ass
"WATCH: Ex-hedge funder who hiked AIDS pill cost by 5,500 percent says drug still underpriced
Appearing on Bloomberg TV, the CEO of a pharmaceutical company that recently hiked the price of a drug used for critically ill infants and AIDS patients by 5,500 percent , defended the price increase by promising better things to come for future patients.
Martin Shkreli, 32, the founder and chief executive of Turing Pharmaceuticals, recently purchased the rights to Daraprim and immediate increased the cost from $13.50 to $750 per pill.
Asked why the huge increase in cost, Shkreli explained that the old companies who owned the drug were practically giving it away almost, and he needs to turn a profit.
Noting that the pill sold for $13.50 and the course of treatment to save your life was only a $1,000, Shrkeli said he had to make a change.
We know, these days, in modern pharmaceuticals, cancer drugs can cost $100,000 or more, whereas these drugs can cost a half of a million dollars, he explained. Daraprim is still under-priced relative to its peers.
Asked if the pill really only costs $1 to manufacture, Shkreli agreed and said, It costs very little to make Daraprim.
Shkreli then listed off manufacturing, distribution, and FDA costs as well as paying the people who make it to specifications.
Pressed even further on the $750 cost per pill, the CEO defended the price by noting how much it brought into the pharmaceutical company annually.
This drug was making $5 million in revenue, he said with a smile. And I dont think you can find a drug company on this planet that can make money on $5 million in revenue.
Shkreli stated that the drug is made for a very very tough disease.
It requires a lot of attention and focus. The drug company needs to partner with the patients and make sure that its a very cared for community. And that costs a lot of money too, pointing out that the company also gives away the drug for $1 for those who cant afford it.
Shkreli added: Patients now have a powerful ally in our company.
http://www.rawstory.com/2015/09/ex-hedge-funder-who-hiked-aids-pill-cost-by-5500-percent-says-drug-still-underpriced/
hifiguy
(33,688 posts)on his way to the National Razor for a nice close shave at the shoulders.
still_one
(92,454 posts)you want to head a drug company, a former hedge fund trader, NOT
roguevalley
(40,656 posts)randys1
(16,286 posts)Just one example of millions I could make.
still_one
(92,454 posts)shenmue
(38,506 posts)still_one
(92,454 posts)shenmue
(38,506 posts)Piece of garbage.
smirkymonkey
(63,221 posts)below in pieces. Greedy motherf***ers like this make me want to spit nails.
TDale313
(7,820 posts)The sad thing is, even if there's some legal remedy, it could well take so long that it'll be too late for many patients. This is so wrong.
still_one
(92,454 posts)I hope generic makers are able to come in quickly, and Canadian and international pharmacies can help
Infectious disease doctors are very angry about this
arcane1
(38,613 posts)He is ultimately a symptom of a much, much larger issue.
spanone
(135,900 posts)artislife
(9,497 posts)He makes my blood boil.
mcar
(42,403 posts)Frustratedlady
(16,254 posts)Where the hell is Congress? Forget Benghazi, Obamacare and all the other crap they are investigating ad nauseum, and REALLY help the people on these drug costs. I know of patients who are paying $7K/month on one medication. The insurance companies are giving notice they will no longer cover and the patient will have to find another way of paying for it. Pharmaceuticals find a better mousetrap, then advertise to get the patient on it and raise the price...snap! Caughtcha!
My husband was offered a prescription for ALS, but the pill was so huge, he would have choked to death if he'd taken one. That is one of the main problems for some ALS patients...swallowing. It cost $900/month (nearly 20 years ago) and the dr. said it would extend his life for another 2-3 months. "Why would I want to extend my life with ALS and pay royally to do so?" Of course, we never did because of the swallowing issue.
Can this jerk sleep at night knowing he is taking away any chances for those children? If he can't have compassion for them and AIDS patients, he doesn't deserve to use up oxygen. What a horrible person.
CanSocDem
(3,286 posts)Ed Suspicious
(8,879 posts)part of the problem) straight up his ass and charge a half a million for extraction.
rurallib
(62,465 posts)like that the government can have generics made and distributed.
I could be wrong, but a law allowing that would certainly stop crap like that.
(I know - congress would never pass it .....)
hibbing
(10,110 posts)I wonder just how much tax payer monies went to big pharma to develop the drug in the first place.
Peace
jalan48
(13,901 posts)erronis
(15,382 posts)There are lots of ways to make perps like him pay. Boycotts, public shaming, robo calls to his friends and co-crims, ... Lots of ways.
Wounded Bear
(58,743 posts)the more you need a drug like this to survive, the more they will charge, regardless of actual cost or overhead.
The most blatant example of overt profiteering in the Pharma industry to date.
Politicub
(12,165 posts)and pronto. It could focus on making generics and selling them at the least amount it needs to in order to turn a profit.
I can dream.
joanbarnes
(1,723 posts)Sunlei
(22,651 posts)In the U.S. as of 2015, with the acquisition of Daraprim tablets by Turing Pharmaceuticals,[13] pyrimethamine has become a single-source and specialty pharmacy item, and the cost of pyrimethamine has increased.[14] The cost of a monthly course for a person on 75 mg rose to about $75,000/month, from $13/tablet to $833/tablet,[15] or $750 per tablet per a New York Times report from September 2015.[16] Outpatients can no longer obtain pyrimethamine from their community pharmacy, but only through a single dispensing pharmacy, Walgreens Specialty Pharmacy, and institutions can no longer order from their general wholesaler, but have to set up an account with the Daraprim Direct program
https://en.wikipedia.org/wiki/Pyrimethamine
WHEN CRABS ROAR
(3,813 posts)to people that can't buy the drug because they're not doctors.
rpannier
(24,342 posts)I'm guessing people like him and the CEO at Nestle will end up on the news -- their bullet ridden bodies laid out on the street somewhere
Maybe I'm just hoping
Ford_Prefect
(7,925 posts)about what he eats in a restaurant, or where he crosses the street, or what bit of beach he lays out on. He cannot imagine the kind of damage he's just done to ordinary people. Vulture capitalist he is indeed.
annabanana
(52,791 posts)I hope the full weight of public shaming lands on him... HARD
niyad
(113,618 posts)niyad
(113,618 posts)tabasco
(22,974 posts)Why should this surprise anyone?
Ed Suspicious
(8,879 posts)tabasco
(22,974 posts)It's what I've come to expect in the corporate oligarchy of the former U.S.A.
Scruffy1
(3,257 posts)Toxoplasmosis is a common protozoan parasite. Cats are the only animal known to spread it and over 20% of the US population has it. For most people it shows no symptoms, but for people with HIV, cancer, or other immune depressive diseases it can be quite dangerous.
He's doing what capitalists do.
SwankyXomb
(2,030 posts)Lifelong Protester
(8,421 posts)so I hope he is metaphorically run out of town.
Sharpen your pitchforks folks....
dflprincess
(28,086 posts)and I would agree.
This guy needs to be hounded wherever he goes.
raccoon
(31,127 posts)n2doc
(47,953 posts)dflprincess
(28,086 posts)but I see someone did answer your question.
I'm probably a bit more aware of him by just his last name as his dental office is a mere 3 miles west of where I live. Caused all sorts of traffic tie ups around the neighborhood during the protests (especially as there was some construction in the area as well) - but it was in a good cause.
raccoon
(31,127 posts)Thekaspervote
(32,809 posts)Yes, I like to kick his a....
You can get drugs legally from Canada and sometimes for as much as a 10th of the cost. With socialized medicine, this just doesn't happen to Canadians.
Also, by getting your drugs else where, it hurts these scoundrels profits by working around the broken system here in the US
Old Crow
(2,212 posts)... what his actions mean to the critically ill and considering how I saw not the slightest trace of regret or shame--just a lot of smug self-satisfaction--I have to conclude that Martin Shkreli is a well-dressed, well-spoken psychopath.
hifiguy
(33,688 posts)not that there is one bit of difference.
Fuck the people, let them die, in the Glorious Name of the Free Market, which works to everyone's best interests (If "everyone" happens to be stinking rich.)
It's the same old story. Marx nailed it long ago in Das Kapital. Steinbeck and Upton Sinclair explored all the suffering and pain this behavior inflicts. The world is filled with people who, given a chance to profit at the expense of human suffering, will take that chance, run with it, and not have a moment's pang of conscience about it. Instead, they'll congratulate themselves as superior beings because, well... they're on top, so of course they're superior.
The older I get, the more I see this as a sick farce that endlessly repeats. The only thing that surprises me are the legions of people who think it isn't happening or who see nothing wrong with it and who think regulations surrounding capitalism are harmful and unnecessary.
hifiguy
(33,688 posts)because they were ludicrously utopian, but his analyses of how capitalism destroys itself are more accurate than they have ever been.
And if I were this particular asshole I would be keeping a low profile and my mouth shut. He just might run into a serious, not to say fatal, "accident" in the not-too-distant future given his absolute, boundless greed and inhumanity.
GReedDiamond
(5,318 posts)...should be counted in charges of murder against the monster Shkreli, similar to the sociopathic peanut company CEO who just got 28 years for poisoning and killing his customers...
http://www.reuters.com/article/2015/09/21/us-usa-georgia-salmonella-idUSKCN0RL24H20150921
hamsterjill
(15,224 posts)I'm not advocating violence, of course, but I'd love to be picked for the jury for a person charged with pummeling this jerk!