Remember the CEO who price gouged the HIV drugs? Well, now he's getting exposed

[RoshawnMarkwees]

If it weren't for all of the out of control promiscuous male-on-male buttfucking this story would be moot.

And women having the nerve to get pregnant, those bitches!

What's that got to do with HIV?

 

[Syriusly]

Funny, just HE of all scoundrels got arrested for being a good capitalist. Anyone seeing a trend?

Hopefully a trend of fraudsters getting arrested and convicted.

Arrested Thursday, accused of Ponzi-like scheme

 

[ClosedCaption]

If it weren't for all of the out of control promiscuous male-on-male buttfucking this story would be moot.

And women having the nerve to get pregnant, those bitches!

What's that got to do with HIV?

The drug isnt only for HIV but trying to get you to understand something without using blind hatred is hard for you

 

[aris2chat]

now they can lower the price for Rx to $20 a month instead of over $500 a pill.

 

[EverCurious]

Surprisingly, my initial research is indicating that the formulation for this drug has been "on the books" for like 60 years... If this turns out to be true, why is this guy the only one the media has singled out to hate on? Did he tell the media to fuck off or something?

 

[JimBowie1958]

Pharma CEO Martin Shkreli Arrested on Charges of Securities Fraud
onspiring with Shkreli in part of the scheme.

I hope this Piece of shyte spends the rest of his life in prison.

 

[RoshawnMarkwees]

If it weren't for all of the out of control promiscuous male-on-male buttfucking this story would be moot.

And women having the nerve to get pregnant, those bitches!

What's that got to do with HIV?

The drug isnt only for HIV but trying to get you to understand something without using blind hatred is hard for you

It's your thread title.

 

[Mad Scientist]

This is what Monopolies, Private or Government created, produce. Oppressive, Tyrannical Monsters.

I would look at this guy as merely the Tip of the Iceberg. The "Ollie North" of Big Pharma (Which by the way controls a large part of the US Government)

 

[theDoctorisIn]

While his decision (if it was his decision) to raise the price of the aforementioned "life-saving pill," may seem on the surface to be one of pure greed, the reality - as always - is not that clear. Is this the only drug in the world with the desired capabilities? I doubt it. How many such pills were sold? Undoubtedly the price increase resulted in a dramatic drop in sales, perhaps to near-zero. Profitable?

If the pill is capable of producing "huge profits" then other drug mfgrs will quickly develop comparable pharmaceuticals and his price will drop like the proverbial rock.

But still, he does look like and act like an A-hole

According to the World Health Organization, it's one of the most important pharmaceuticals in the world.

The good news is, another company has broken Turing's monopoly with a slightly differently formulated drug that may work for most people, selling for about a dollar a pill.

Keep in mind, this drug is sold for less than 5 cents a pill all over the world.

 

[theDoctorisIn]

Pharma CEO Martin Shkreli Arrested on Charges of Securities Fraud

Shkreli, CEO Reviled for Drug Price Gouging, Arrested on Securities Fraud Charges

A boyish drug company entrepreneur, who rocketed to infamy by jacking up the priceof 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....
...In the case that closely tracks that suit, federal prosecutors accused Shkreli of engaging in a complicated shell game after his defunct hedge fund, MSMB Capital Management, lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements. A New York lawyer, Evan Greebel, was also arrested early Thursday. He's accused of conspiring with Shkreli in part of the scheme...

Sounds like another LGBT professional take-down for daring to defy their lifestyles.. Yep. That's exactly what it is. I wonder how many niggling improprieties George Soros has engaged in with his financial affairs? We'll find out no doubt when the GOP takes the Whitehouse and rearranges certain staff inserted during this administration..

Granted, the price hike was a bit over the top. But other drugs are being priced astronomically too. Where are those take downs? I suspect if this Shkreli gets some legal help from Merck or Pfizer to be able to price drugs as they like, without having political hits done on their businesses, he'll recover from this just fine. Wonder what he'll do to the price of the HIV meds after that?

What in the fuck are you talking about?

 

[Silhouette]

Funny, just HE of all scoundrels got arrested for being a good capitalist. Anyone seeing a trend?

Hopefully a trend of fraudsters getting arrested and convicted.

Arrested Thursday, accused of Ponzi-like scheme

Nope, only the ones who piss off the Church of LGBT... Those are the people who are being selectively hauled off to jail...among the many others who have done much worse that the authorities know about and could've spent resources going after first...

 

[ClosedCaption]

If it weren't for all of the out of control promiscuous male-on-male buttfucking this story would be moot.

And women having the nerve to get pregnant, those bitches!

What's that got to do with HIV?

The drug isnt only for HIV but trying to get you to understand something without using blind hatred is hard for you

It's your thread title.

So? The only way you wouldn't know note about this drug is if your entire knowledge comes from thread titles lol

 

[ClosedCaption]

Surprisingly, my initial research is indicating that the formulation for this drug has been "on the books" for like 60 years... If this turns out to be true, why is this guy the only one the media has singled out to hate on? Did he tell the media to fuck off or something?

It was because he placed a 5000% increase on a already established drug for greed reasons.

 

[EverCurious]

And you suppose the reason the /other/ companies didn't put out the life saving drug because of another reason?

 

[WheelieAddict]

What!!! The govt. is enforcing rules, that is wrong! The free market would have taken care of it! Govt. overreach! We need less govt.! Abolish that part of the govt. because it isn't perfect! Govt. is communism and isn't needed!

 

[Silhouette]

Surprisingly, my initial research is indicating that the formulation for this drug has been "on the books" for like 60 years... If this turns out to be true, why is this guy the only one the media has singled out to hate on? Did he tell the media to fuck off or something?

It was because he placed a 5000% increase on a already established drug for greed reasons.

Did the guy try to squeeze out other companies from competing? You wouldn't begrudge De Beers for holding a monopoly on diamonds and charging a fortune for each one. Is it his fault other companies won't compete with him? Should he be arrested for practicing the epitome of capitalism? Maybe he should be. But if that's the case, they'd better get busy rounding up all the swine who take advantage of their monopolies. Monsanto comes to mind...Will we be seeing their officials hauled off to jail for making their monopoly on food genetics cause massive crop failures leading in millions or perhaps billions dying?

No, just this one. This one and Kim Davis...hauled off to jail. Let me know when you've woken up and begun to see the trend..

 

[charwin95]

Surprisingly, my initial research is indicating that the formulation for this drug has been "on the books" for like 60 years... If this turns out to be true, why is this guy the only one the media has singled out to hate on? Did he tell the media to fuck off or something?

Just wondering what kind of formulation you've used. The drug cost $1 to produce sold for $13.50 p/p for many years. Overnight he increased it to $750. There are no good justification for this kind increase except greediness to pay off his ponzi scheme.
Can you please provide your formula how he come up with 5000% price increase?

 

[EverCurious]

The drug has been available since 1953. No one wanted to bring it to market because it's apparently non-profitable. Seems ya'll should be hating on more than just this guy, who ironically, had he /not/ brought it to market and been made into a social uproar, the formula would still be sitting on the shelves being useless to the folks who need it.

https://en.wikipedia.org/wiki/Pyrimethamine

"The Nobel Prize-winning American scientist Gertrude Elion developed the drug at Burroughs-Wellcome (now part of GlaxoSmithKline) to combat malaria.[11] Pyrimethamine has been available since 1953,[12] and is not subject to any unexpired patent.[13] However, in the United States, the market for this product is sufficiently small that no generic manufacturer has emerged. In 2010, GlaxoSmithKline sold the marketing rights for Daraprim to CorePharma. Impax Laboratories sought to buy CorePharma in 2014, and completed the acquisition, including Daraprim, in March 2015.[14] In August 2015, the rights were bought by Turing Pharmaceuticals.[15] Turing subsequently became known for a price hike controversy when it raised the price of a dose of the drug in the U.S. market from US$13.50 to US$750, a 5,500% increase.[16]"

If you want to hate on some other "responsible parties", I'd go with GlaxoSmithKline who sat on it until 2014, or CorePharma who sat on it until March, when this guy bought it and brought it to market.

RE: Pricing ~

In the United States, as of 2015, with Turing Pharmaceuticals' acquisition of the US marketing rights for Daraprim tablets,[17] Daraprim has become a single-source and specialty pharmacy item, and the cost of Daraprim has increased.[18] The cost of a monthly course for a person on 75 mg dose rose to about $75,000/month, from $13/tablet to $833/tablet,[19] or $750 per tablet.[20][21] Outpatients can no longer obtain Daraprim 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.[18][22] Presentations from Retrophin, a company formerly headed by Martin Shkreli, CEO of Turing, from which Turing acquired the rights to Daraprim, suggest that a closed distribution system could prevent generic competitors from legally obtaining the drugs for the bioequivalence studies required for FDA approval of a generic drug.[22]

Martin Shkreli, CEO of Turing, defended the price hike by saying, "If there was a company that was selling an Aston Martin at the price of a bicycle, and we buy that company and we ask to charge Toyota prices, I don't think that that should be a crime."[23][24] As a result of the backlash, Shkreli hired a crisis public relations firm to help explain his fund's move.[25] Turing Pharmaceuticals announced on November 24, 2015 "that it would not reduce the list price of that drug after all" but they will offer various patient assistance programs.[26] However, New York Times journalist Andrew Pollack noted that these programs "are standard for companies selling extremely high-priced drugs. They enable the patients to get the drug while pushing most of the costs onto insurance companies and taxpayers."[26]

On December 17, 2015, Shkrelli was arrested by federal agents on securities fraud related to a hedge fund firm he founded. "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. In the case that closely tracks that suit, federal prosecutors accused Shkreli of engaging in a complicated shell game after his defunct hedge fund, MSMB Capital Management, lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements."[27] He resigned as CEO of Turing Pharmaceuticals the next day.[28]

The price increase has been fiercely criticised by physician groups such as HIV Medicine Associates and Infectious Diseases Society of America.[29]

In India, over a dozen pharmaceutical companies manufacture and sell pyrimethamine tablets and, multiple combinations of generic pyrimethamine are available for a price ranging from US$0.04–$0.10 each (3–7 rupees).[30][31][32][33]

In the UK, the same drug is available from GSK at a cost of US$20 (£13) for 30 tablets (approximately $0.66 each).[34]

In Australia, the drug is available in most pharmacists at a cost of US$9.35 (A$12.99) for 50 tablets (approximately US$0.18 each).[35]

In Brazil, the drug is available for R$0.07 a pill, or about US$0.02.[36]

In Canada, the drug was reportedly discontinued in 2013 but hospitals may make the drug in-house when it is needed.[37] As of December 2015[update], Daraprim imported into Canada directly from GSK UK is available from an online pharmacy for US$2.20 per tablet.[38]

On October 22, 2015, Imprimis Pharmaceuticals announced it has made available compounded and customizable formulations of pyrimethamine and leucovorin in oral capsules starting as low as $99.00 for a 100 count bottle in the United States.


So basically, if you know anyone who needs the stuff, send them out of the US.

 

[Care4all]

Funny, just HE of all scoundrels got arrested for being a good capitalist. Anyone seeing a trend?

you say he was a GOOD capitalist?

in what way do you see him as a GOOD capitalist?

 

[charwin95]

The drug has been available since 1953. No one wanted to bring it to market because it's apparently non-profitable. Seems ya'll should be hating on more than just this guy, who ironically, had he /not/ brought it to market and been made into a social uproar, the formula would still be sitting on the shelves being useless to the folks who need it.

https://en.wikipedia.org/wiki/Pyrimethamine

"The Nobel Prize-winning American scientist Gertrude Elion developed the drug at Burroughs-Wellcome (now part of GlaxoSmithKline) to combat malaria.[11] Pyrimethamine has been available since 1953,[12] and is not subject to any unexpired patent.[13] However, in the United States, the market for this product is sufficiently small that no generic manufacturer has emerged. In 2010, GlaxoSmithKline sold the marketing rights for Daraprim to CorePharma. Impax Laboratories sought to buy CorePharma in 2014, and completed the acquisition, including Daraprim, in March 2015.[14] In August 2015, the rights were bought by Turing Pharmaceuticals.[15] Turing subsequently became known for a price hike controversy when it raised the price of a dose of the drug in the U.S. market from US$13.50 to US$750, a 5,500% increase.[16]"

If you want to hate on some other "responsible parties", I'd go with GlaxoSmithKline who sat on it until 2014, or CorePharma who sat on it until March, when this guy bought it and brought it to market.

RE: Pricing ~

In the United States, as of 2015, with Turing Pharmaceuticals' acquisition of the US marketing rights for Daraprim tablets,[17] Daraprim has become a single-source and specialty pharmacy item, and the cost of Daraprim has increased.[18] The cost of a monthly course for a person on 75 mg dose rose to about $75,000/month, from $13/tablet to $833/tablet,[19] or $750 per tablet.[20][21] Outpatients can no longer obtain Daraprim 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.[18][22] Presentations from Retrophin, a company formerly headed by Martin Shkreli, CEO of Turing, from which Turing acquired the rights to Daraprim, suggest that a closed distribution system could prevent generic competitors from legally obtaining the drugs for the bioequivalence studies required for FDA approval of a generic drug.[22]

Martin Shkreli, CEO of Turing, defended the price hike by saying, "If there was a company that was selling an Aston Martin at the price of a bicycle, and we buy that company and we ask to charge Toyota prices, I don't think that that should be a crime."[23][24] As a result of the backlash, Shkreli hired a crisis public relations firm to help explain his fund's move.[25] Turing Pharmaceuticals announced on November 24, 2015 "that it would not reduce the list price of that drug after all" but they will offer various patient assistance programs.[26] However, New York Times journalist Andrew Pollack noted that these programs "are standard for companies selling extremely high-priced drugs. They enable the patients to get the drug while pushing most of the costs onto insurance companies and taxpayers."[26]

On December 17, 2015, Shkrelli was arrested by federal agents on securities fraud related to a hedge fund firm he founded. "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. In the case that closely tracks that suit, federal prosecutors accused Shkreli of engaging in a complicated shell game after his defunct hedge fund, MSMB Capital Management, lost millions. He is alleged to have made secret payoffs and set up sham consulting arrangements."[27] He resigned as CEO of Turing Pharmaceuticals the next day.[28]

The price increase has been fiercely criticised by physician groups such as HIV Medicine Associates and Infectious Diseases Society of America.[29]

In India, over a dozen pharmaceutical companies manufacture and sell pyrimethamine tablets and, multiple combinations of generic pyrimethamine are available for a price ranging from US$0.04–$0.10 each (3–7 rupees).[30][31][32][33]

In the UK, the same drug is available from GSK at a cost of US$20 (£13) for 30 tablets (approximately $0.66 each).[34]

In Australia, the drug is available in most pharmacists at a cost of US$9.35 (A$12.99) for 50 tablets (approximately US$0.18 each).[35]

In Brazil, the drug is available for R$0.07 a pill, or about US$0.02.[36]

In Canada, the drug was reportedly discontinued in 2013 but hospitals may make the drug in-house when it is needed.[37] As of December 2015[update], Daraprim imported into Canada directly from GSK UK is available from an online pharmacy for US$2.20 per tablet.[38]

On October 22, 2015, Imprimis Pharmaceuticals announced it has made available compounded and customizable formulations of pyrimethamine and leucovorin in oral capsules starting as low as $99.00 for a 100 count bottle in the United States.


So basically, if you know anyone who needs the stuff, send them out of the US.

I am in the medical industry business so in familiar with these companies especially GSK. But there are no excuses for the price increase of 5,000% except greediness.