Pharma firm hikes life-saving drug price by 5,500%

[Preacher]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

 

[Preacher]

Shkreli has been known to make controversial statements on Twitter about others.[7]

In September 2014 Retrophin acquired the rights to thiola, a drug used to treat the rare disease cystinuria. It was with Shkreli as CEO that Retrophin introduced a 20-fold price increase for Thiola, despite no additional research and development costs incurred by obtaining these rights.[8][9]

Shkreli has also came under fire from CREW (Citizens for Responsibility and Ethics in Washington) for the alleged manipulation of the FDA regulatory process in order to move stock prices for his own financial gain,[10] though these allegations did not result in any charges.

On August 17, 2015, Retrophin filed suit against Shkreli seeking $65 million in damages.

In August 2015 Turing Pharmaceuticals, Executive Chairman Martin Shkreli raised the price of Daraprim from $13.50 per pill to $750 per pill — a 5,455% increase[4]— shortly after purchasing the rights to the drug. Turing has exclusive rights to market Daraprim, which has been on the market since 1953. [11]

Why isn't this piece of shit in prison?

 

[guno]

Shkreli has been known to make controversial statements on Twitter about others.[7]

In September 2014 Retrophin acquired the rights to thiola, a drug used to treat the rare disease cystinuria. It was with Shkreli as CEO that Retrophin introduced a 20-fold price increase for Thiola, despite no additional research and development costs incurred by obtaining these rights.[8][9]

Shkreli has also came under fire from CREW (Citizens for Responsibility and Ethics in Washington) for the alleged manipulation of the FDA regulatory process in order to move stock prices for his own financial gain,[10] though these allegations did not result in any charges.

On August 17, 2015, Retrophin filed suit against Shkreli seeking $65 million in damages.

In August 2015 Turing Pharmaceuticals, Executive Chairman Martin Shkreli raised the price of Daraprim from $13.50 per pill to $750 per pill — a 5,455% increase[4]— shortly after purchasing the rights to the drug. Turing has exclusive rights to market Daraprim, which has been on the market since 1953. [11]

Why isn't this piece of shit in prison?

Why isn't this piece of shit in prison?

Or shot

 

[Luddly Neddite]

why health cost is so expensive in the us....pharms rule! | US Message Board - Political Discussion Forum

 

[Eaglewings]

I hate these people that we put in office and now look at what we have with the big pharma
and of coarse buying out of the country is illegal.

I had to get 6 shots of a cancer drug called neulesta $20,000 a shot..

People just don't get it until they get sick, no worries our congressmen will have the best for the rest of their life's.




~

 

[GHook93]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

It must be the JJJJOOOOOSSSSS!!! Not sure even a douche like you can claim Shkreli is Jewish.

He is scum and will end up in hell, but it government took full control of the pharm industry there would be no innovation in medicine. America is still by far the leader in drug innovation in the world. Second is, your not going to like this, tiny Israel!


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[Preacher]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

It must be the JJJJOOOOOSSSSS!!! Not sure even a douche like you can claim Shkreli is Jewish.

He is scum and will end up in hell, but it government took full control of the pharm industry there would be no innovation in medicine. America is still by far the leader in drug innovation in the world. Second is, your not going to like this, tiny Israel!


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Nope already checked the shithead is Albanian....

 

[GHook93]

Martin Shkreli: 5 Fast Facts You Need to Know

He is a grade A piece of shit. Can someone please tell this scumbag that he can't take his millions with him. To be frank $13.50 a tablet is very expensive and only the worst kind of individual would buy another company that is profitable and take one of their leading products that is life saving medication for AIDS patients and babies and raise the price to $750 a tablet. Then he brags about it on Twitter. Now the fuck face says he will reduce the price, SOLELY BECAUSE OF LOST PROFITS. The catch is he didn't say to what. I doubt to $13.50. Even if it's to $50 (which I doubt it) that is still a 5x increase!

Tell us again why we can't buy drugs across borders!

People will mock Mexico, but my parents have a winter condo in Mexico. They what to travel to Mexico to get all their dental work done. They buy there medication at tiny percentage of the price. It is insane.


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[Preacher]

Martin Shkreli: 5 Fast Facts You Need to Know

He is a grade A piece of shit. Can someone please tell this scumbag that he can't take his millions with him. To be frank $13.50 a tablet is very expensive and only the worst kind of individual would buy another company that is profitable and take one of their leading products that is life saving medication for AIDS patients and babies and raise the price to $750 a tablet. Then he brags about it on Twitter. Now the fuck face says he will reduce the price, SOLELY BECAUSE OF LOST PROFITS. The catch is he didn't say to what. I doubt to $13.50. Even if it's to $50 (which I doubt it) that is still a 5x increase!

Tell us again why we can't buy drugs across borders!

People will mock Mexico, but my parents have a winter condo in Mexico. They what to travel to Mexico to get all their dental work done. They buy there medication at tiny percentage of the price. It is insane.


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Damn we agree.

 

[Delta4Embassy]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

What comes from making healthy insurance mandatory. Since by and large individuals aren't paying for things, some insurance company is, rates go into orbit. If individuals still paid everything out of pocket, rates would reflect that.

 

[GHook93]

This asshole is now trying to go on a PR run. He actually tried to say he did this to raise R&D dollars so he could provide better drugs. My ass he did this to price gouge people who needed the drug. He then tried to say he needed to do this because the drug wasn't making any money. Yet the pressed called him out that the drug was inexpensive to make and regulatory costs are not as high since the drug has been on the market for a while.
Let me also point out that $13.50 A PILL is very expensive.

I hope he knows he can't take his millions to hell with him!









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[GHook93]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

What comes from making healthy insurance mandatory. Since by and large individuals aren't paying for things, some insurance company is, rates go into orbit. If individuals still paid everything out of pocket, rates would reflect that.

You just over simplified a complex situation! Bravo! That makes no sense. Prior to Obamacare and other reforms if you had to pay without insurance the costs would be astronomical.


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[jon_berzerk]

buy it in canada

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[GHook93]

CEO who raised price of old pill more than $700 overnight calls journalist a ‘moron’ for asking why

Let's set the record straight so losetarians don't equally look like assholes coming to this CEOs defensive who doesn't give a damn about you. This drug was on the market for 62 years. It's a popular drug that many of it's users need to survive. His company bought the drug and jacked up the already high price to astronomical levels. Even with insurance it would cost $150 a pill! He is evil and if you support him your simply a douche bag. If you can boycott his products do it.










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[jon_berzerk]

Skyrocketing prices of an anti-parasitic drug – the facts?

 

[jon_berzerk]

Pharma firm hikes life-saving drug price by 5,500%

This is why government should have absolute control over these things....no price gouging allowed so some rich asshole can get richer.Oh and I don't mean this democracy shit either. I mean a Racial Socialist state where we all work for each other and we all benefit. This nation is a dumpster of shit.

What comes from making healthy insurance mandatory. Since by and large individuals aren't paying for things, some insurance company is, rates go into orbit. If individuals still paid everything out of pocket, rates would reflect that.

You just over simplified a complex situation! Bravo! That makes no sense. Prior to Obamacare and other reforms if you had to pay without insurance the costs would be astronomical.


Sent from my iPhone using Tapatalk

obamacare did not create that

in 1992 Section 340B of the public services act did

 

[waltky]

Uncle Ferd says he's tryin' to screw up so's his daddy'll fire him...

‘Hated’ Pharma CEO Says Company to Lower Price of AIDS Drug
September 24, 2015 - The CEO of a pharmaceutical company that raised the price of a drug used by AIDS patients by over 4,000 percent is now saying his company will lower the price.

Martin Shkreli, the CEO of Turing pharmaceutical company, has been called the most hated man in America after it was learned his company had hiked the price of Daraprim, a drug used by patients with AIDS and certain types of cancer, from $13.50 to $700 a pill. Daraprim, which fights parasitic infections among those with compromised immune systems, has been around for decades, but Turing procured the rights to it in August. The scandal went viral, even provoking presidential candidate Hillary Clinton to tweet that as president, she would end “price gouging” by drug companies.

Republican candidate Donald Trump weighed in Wednesday, saying Shkreli “looks like a spoiled brat” to reporters at a press conference in South Carolina Shkreli, 32, told ABC news that he would lower the price of the medicine to make it “more affordable,” but did not give details. He said Turing gave the drug away for free to about half of those who use it. Before saying Turing would lower the price, Shkreli had defended the company’s pricing, saying it was needed to turn a profit and to finance more research and development.

Martin Shkreli came under fire after it was learned his company raised the prices of a drug used to fight AIDS by over 4,000 percent.

Not all were convinced that the announcement was a win for those needing the drug. “Shkreli won. He made a huge price increase, rode through the resulting controversy, and now has settled into taking a less huge price increase, but probably still very big price increase,” wrote Forbes magazine.

Shkreli had been outspoken in defending himself on Twitter, accusing the media of vilifying him. Earlier in the week, he made his Twitter feed private. Not so private, however, is Shkreli's contact information, which was posted online yesterday, according to reports.

‘Hated’ Pharma CEO Says Company to Lower Price of AIDS Drug

 

[waltky]

Senate looking into drug price hike...

U.S. Senate panel probing Valeant, Turing over drug costs
Wed Nov 4, 2015 - A U.S. Senate panel on Wednesday launched a bipartisan probe into pharmaceutical pricing, seeking documents from four drugmakers including Valeant Pharmaceuticals and Turing Pharmaceuticals, companies embroiled in controversy over price hikes on lifesaving drugs.

The Senate's Special Committee on Aging also requested information from Retrophin Inc and Rodelis Therapeutics, according to a statement from the panel's Republican Chairwoman Susan Collins and Claire McCaskill, its top Democrat. Also on Wednesday, Democratic members of a U.S. House of Representatives investigative committee asked Republicans to call a vote to subpoena Valeant and Turing.

A pharmacy employee looks for medication as she works to fill a prescription while working at a pharmacy in New York​

These Democratic leaders called for an investigation of drug prices in September, emboldened by press reports of a more than 5000 percent overnight increase in a toxoplasmosis drug made by Turing and a more than 600 percent increase in a blood pressure treatment from Valeant. That investigation, along with news that Democratic Presidential candidate Hillary Clinton found the increases "outrageous" and the release of her plan to restrict drugmaker profits, has hurt their stock prices. Drugmakers and their defenders say drugs are priced to help enable discovery and development of innovative new treatments.

The effort has not yet been taken up broadly by Republicans. Investors and analysts have said it would take a wider bipartisan push to possibly change how drugmakers price their medicines. House investigative committee Republican Chairman Jason Chaffetz, who could authorize an investigation, so far has blocked it. His spokesperson did not immediately respond to request for comment.

MORE

 

[Arianrhod]

Senate looking into drug price hike...

U.S. Senate panel probing Valeant, Turing over drug costs
Wed Nov 4, 2015 - A U.S. Senate panel on Wednesday launched a bipartisan probe into pharmaceutical pricing, seeking documents from four drugmakers including Valeant Pharmaceuticals and Turing Pharmaceuticals, companies embroiled in controversy over price hikes on lifesaving drugs.

The Senate's Special Committee on Aging also requested information from Retrophin Inc and Rodelis Therapeutics, according to a statement from the panel's Republican Chairwoman Susan Collins and Claire McCaskill, its top Democrat. Also on Wednesday, Democratic members of a U.S. House of Representatives investigative committee asked Republicans to call a vote to subpoena Valeant and Turing.

A pharmacy employee looks for medication as she works to fill a prescription while working at a pharmacy in New York​

These Democratic leaders called for an investigation of drug prices in September, emboldened by press reports of a more than 5000 percent overnight increase in a toxoplasmosis drug made by Turing and a more than 600 percent increase in a blood pressure treatment from Valeant. That investigation, along with news that Democratic Presidential candidate Hillary Clinton found the increases "outrageous" and the release of her plan to restrict drugmaker profits, has hurt their stock prices. Drugmakers and their defenders say drugs are priced to help enable discovery and development of innovative new treatments.

The effort has not yet been taken up broadly by Republicans. Investors and analysts have said it would take a wider bipartisan push to possibly change how drugmakers price their medicines. House investigative committee Republican Chairman Jason Chaffetz, who could authorize an investigation, so far has blocked it. His spokesperson did not immediately respond to request for comment.

MORE

Martin Shkreli is in for a world of hurt. Not only will his firm be under investigation, but so will any firm that's suddenly jacked up the price of its products.

Shkreli already has the opprobrium of the sane consumer for "WTF, a 5,500% hike? Are you fucking kidding?" (no doubt some USMB members were dancing with glee because "people with AIDS should die, and this wonderful man only raised his prices because he was forced to by Obumacare"), but now his peers in the industry will be shunning him at his favorite clubs.

It's hard out there for a pimp...

 

[waltky]

Insider trading lawsuit filed against Valeant, Ackman...

Valeant, Ackman must face U.S. insider trading lawsuit
Wed Nov 11, 2015 - A U.S. judge said Valeant Pharmaceuticals International Inc. and activist hedge fund manager William Ackman must face a lawsuit accusing them of insider trading in Allergan Inc before making an unsuccessful takeover bid for the maker of Botox.

In a Nov. 9 decision, U.S. District Judge David Carter in Santa Ana, California, rejected arguments by Valeant, Ackman and Ackman's Pershing Square Capital Management that the lawsuit should be dismissed because their activity was not fraudulent. The lawsuit was filed on behalf of investors who sold Allergan shares in the two months before the defendants on April 22, 2014 announced an unsolicited $51 billion bid for Allergan. Pershing had by then quietly amassed a 9.7 percent stake in Allergan, which soared in value after the bid was announced. Investors said Pershing bought those shares knowing that Valeant was preparing a bid that could, and later did, become hostile.

Valeant and Ackman said there was no intent to defraud, and that they breached no duties by sharing information before the takeover bid became public. But the judge, without ruling on the merits, found "serious questions" as to whether "substantial steps" had been taken toward a possible hostile bid, which would have required Valeant to disclose more or Ackman to stop his buying. "Plaintiffs must plead defendants knew they were in possession of material nonpublic information at the time of the trade and that they acted with the intent to deceive, manipulate, or defraud," Carter wrote. "Plaintiffs have alleged both elements."

Activist investor Bill Ackman (R) speaks with specialist trader Michael Cacace, at the post where Valeant Pharmaceuticals International Inc. is traded on the floor of the New York Stock Exchange​

Valeant spokeswoman Laurie Little said the Laval, Quebec-company was disappointed with the decision, and believes it complied with securities laws. "We look forward to presenting evidence to establish that we did nothing improper," she added. Michael Shipley, a lawyer for Pershing and Ackman, declined to comment. Allergan is not a defendant. The lead plaintiffs are the State Teachers Retirement System of Ohio, the Iowa Public Employees Retirement System, and Allergan employee Patrick Johnson, court papers show. Their lawyers did not immediately respond to requests for comment.

Allergan was bought in March by Dublin-based Actavis Plc for about $70.5 billion, the combined company announced at the time. Actavis was renamed Allergan Plc (AGN.N). The next month, Allergan dropped its own lawsuit accusing Valeant and Pershing of insider trading. Pershing remains a large shareholder in Valeant, whose shares have tumbled in recent months over concerns about its financial practices and drug pricing. The case is In re: Allergan Inc Proxy Violation Securities Litigation, U.S. District Court, Central District of California, No. 14-02004.

Valeant, Ackman must face U.S. insider trading lawsuit