Pharma Co. buys 62yr old critical drug and hikes price by 5000%

[DeDukshyn]

A biotech company founded by a former hedge fund manager Martin Shkreli recently purchased the rights to a critical antiparasitic drug and jacked up the price by more than 5,000% then uses Eminem quotes to respond to critics on twitter.

Big Pharma and their controllers, these "hedge fund managers" know no bounds to their low-life sliminess, do we need any proof of this?

Here are some links on the topic:

http://www.businessinsider.com/turing-increases-price-of-darapim-2015-9

http://www.businessinsider.com/martin-shkreli-of-turing-twitter-2015-9

http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html?_r=1


Hilary claims she plans to do something about it ....

http://www.businessinsider.com/a-62-year-old-drug-just-rose-in-price-by-5455-and-its-getting-hillary-clintons-attention-2015-9

[Meggings]

My son raised this topic last night at the dinner table. He also said this former hedge fund manager had done the same thing with another drug company a few years back. Apparently he got away with it. Only when we the people make enough noise would people like Hilary Clinton seem to do something. THIS is the waking up force, when things are no longer hidden, when people see the evil, when people speak up.

Then the topic went on to what hedge funds were and a tax loophole that has let the top 100 hedge fund managers make...oh what was it, 500 million annual income more, on average? This being above and beyond the obscene income they already have. I have no research to substantiate this - it was dinner table talk from my son.

[Jhonie]

Bet he pays them off and gets away with it again.

[take]

His twitter comments though https://twitter.com/MartinShkreli/status/645783632834076672
:ROFL:

[DeDukshyn]

His twitter comments though https://twitter.com/MartinShkreli/status/645783632834076672
:ROFL:

HAH! Thanks for that! That was great! lol!

[The Lawnman]

Its ironic Hillary Clinton is chiming in on this issue; especially when she knows pharmaceutical companies have been doing this for years. The horror stories I could tell make this story a non-story really.

What is interesting, is that she has no problem charging $200K - 300K for a speaking engagement. Her husband, former President Bill Clinton recently received $700,000 when he spoke to a company in Lagos, Nigeria. Together, they've earned $30 million in just the last seventeen months. And not to be left out, their daughter Chelsea is commanding $75K for speaking engagements and was paid $600K per annum as a "special correspondent" by NBC News.

[DeDukshyn]

Its ironic Hillary Clinton is chiming in on this issue; especially when she knows pharmaceutical companies have been doing this for years. The horror stories I could tell make this story a non-story really.

What is interesting, is that she has no problem charging $200K - 300K for a speaking engagement. Her husband, former President Bill Clinton recently received $700,000 when he spoke to a company in Lagos, Nigeria. Together, they've earned $30 million in just the last seventeen months. And not to be left out, their daughter Chelsea is commanding $75K for speaking engagements and was paid $600K per annum as a "special correspondent" by NBC News.

"Never let a crisis go to waste" -- Hilary Clinton

I'm pretty sure her words are all politically motivated. In fact 100% sure.

[Meggings]

Its ironic Hillary Clinton is chiming in on this issue; especially when she knows pharmaceutical companies have been doing this for years. The horror stories I could tell make this story a non-story really.

What is interesting, is that she has no problem charging $200K - 300K for a speaking engagement. Her husband, former President Bill Clinton recently received $700,000 when he spoke to a company in Lagos, Nigeria. Together, they've earned $30 million in just the last seventeen months. And not to be left out, their daughter Chelsea is commanding $75K for speaking engagements and was paid $600K per annum as a "special correspondent" by NBC News.

Shyte. (can you say **** here?)
That's sickening, when good souls like Alex Collier and Eric Dollard have lived in cars, when untold millions are destitute, when many working to improve the world are made bankrupt.

This will change. This changes now, in these days we are living.

When someone cringes hearing that $25/month might be needed for avalon audio, and that is 10% of one's spendable "income",
when birkenstock shoes take five months to save for so you keep gluing the broken ones for the past three and a half years,
when the eyeglasses have broken 50 times and you touch some solder on them repeatedly to keep them serviceable...

Living in grinding poverty is a stunner. And to hear the Clinton "take", well, I shake my head, for I know of many other lifetimes when I had ample, when I died in poverty and riches and in so-so average.

There must be an evening out of things.
It must come from abolishing money being required for EVERYTHING needed to live.
Each of us must be valued and provided for, so our talents can grow and expand to bless this planet and her people.
Righteous indignation rises that would take the insanity laid over this world and pulls it up in both hands and discards it.

I say we are free people!
I say we are powerful and wise and good!
I say all are loved and cared for, all have a safe home, and a place to lay their heads.

[DeDukshyn]

His twitter comments though https://twitter.com/MartinShkreli/status/645783632834076672
:ROFL:

HAH! Thanks for that! That was great! lol!

Damn! access to his twitter feed has been restricted (I can't imagine why :rolleyes:). Too bad, I should have copied it here ... it was priceless.

[hohoemi]

Here's a petition against this (http://action.sumofus.org/a/martin-shkreli/) (to "make some noise").

[risveglio]

Government protectionism, not the free market, caused an insane increase in the price of this HIV drug
Read more at http://rare.us/story/government-protectionism-not-the-free-market-caused-an-insane-increase-in-the-price-of-this-hiv-drug/#1S5y4hYZ2UriOhJt.99

[DeDukshyn]

A couple of other things: this Shkreli guy is also being sued for fraud in an unrelated offence against the previous "company" he founded: http://www.epictimes.com/2015/09/price-gouging-pharma-ceo-being-sued-for-fraud/

And I work for a company that produces tablets, and some of the raw materials we put into various products cost up to $10,000 per kg, yet when you get to the doses actually required, I doubt if any tablet in the world by any pharma company costs more than 1c to produce, and usually fractions of a cent. The fact that this guy wants to charge $750 per a single tablet ... well, do the math.

At the end of the day, Shkreli created the company "Turin" to specifically take advantage of the government enforced protectionism due to amendments of the patent systems that were created specifically protect big pharma profits on drugs (via senate manipulation I am sure) who's patents expired (like this one).

Sick politicians propping up their sick minded pharma friends .. offshore accounts anyone?

[Rocky_Shorz]

This is one way to break the bank on Obamacare, take drugs used to cure ailments commonly experienced by lower class citizens forcing the government to pay for them...

Anyone wanting national healthcare should be screaming and understand this is happening to hundreds of common drugs right now.

Where are the Republicans who were demanding drug companies stop gouging insurance companies?

Seems like if it only is hurting Obamacare and welfare, nothing will ever be said until the systems are broken...

[risveglio]

This is one way to break the bank on Obamacare, take drugs used to cure ailments commonly experienced by lower class citizens forcing the government to pay for them...

Anyone wanting national healthcare should be screaming and understand this is happening to hundreds of common drugs right now.

Where are the Republicans who were demanding drug companies stop gouging insurance companies?

Seems like if it only is hurting Obamacare and welfare, nothing will ever be said until the systems are broken...

You are way too harped on Republicans vs Democrats. There really is no difference but you seem to think there is some. Hulk Hogan and the Iron Sheikh were actually friends.

[Rocky_Shorz]

I was friends with Jesse and Hulk back when I was in Mn, Hilary is speaking out.

On election years, people need to tell their candidates what is important for them to run on to bring it out in public discussions.

I am explaining because it would help Obamacare instead of helping to crush it, one side is silent...

[DeDukshyn]

This is one way to break the bank on Obamacare, take drugs used to cure ailments commonly experienced by lower class citizens forcing the government to pay for them...

Anyone wanting national healthcare should be screaming and understand this is happening to hundreds of common drugs right now.

Where are the Republicans who were demanding drug companies stop gouging insurance companies?

Seems like if it only is hurting Obamacare and welfare, nothing will ever be said until the systems are broken...

You are way too harped on Republicans vs Democrats. There really is no difference but you seem to think there is some. Hulk Hogan and the Iron Sheikh were actually friends.

Not everyone who is a politician is even aware as we are of the non-two party system. Just those that have been bought and plant. A lot of people work for the US gov't. Most of them still believe they really do have a two party system.

[Gatita]

I wonder how he would feel if one of his loved ones needed the medication, and couldn't afford it.

Cat

[DeDukshyn]

Hahaha ... the guy finally got busted, revealing even more of his true character. Arrested for Ponzi scheme. POS.


Pharmaceutical entrepreneur Martin Shkreli - who hiked the price of a life-saving drug by 5,000% - has been arrested by the FBI on securities fraud charges.

http://news.sky.com/story/1607766/price-hike-drug-tycoon-held-for-ponzi-scheme