r/news • u/Double-Anteater228 • Jan 14 '22 • 19 1 19 18 3
Shkreli ordered to return $64M, is barred from drug industryhttps://apnews.com/article/martin-shkreli-daraprim-profits-fb77aee9ed155f9a74204cfb13fc1130
u/Ffffqqq Jan 14 '22 •
u/WishIWasOnACatamaran Jan 14 '22
36M for 7 years is still a helluva deal
u/_mach Jan 14 '22
I wonder how much money that 100 million has made him in the interim, too...
the absurd fact is that money makes people richer, which is part of the inequality equation here.→ More replies (45)
u/CptTurnersOpticNerve Jan 15 '22
If he wasn't the kind of moron that spends money on exclusive albums he should easily be able to live off interest
u/hardknockcock Jan 15 '22 edited Jan 15 '22
That album is legitimately a better investment than more things you would think.
-This is a sponsored message from Wu-Tang financial-
u/cfetzborn Jan 15 '22
Protect yo goddamn portfolio! Shit was basically the first NFT→ More replies (6)
u/Juicepit Jan 15 '22
You need to diversify yo bonds→ More replies (1)→ More replies (9)
u/Nord4Ever Jan 15 '22
Diversify yo bonds!
u/iVirtue Jan 15 '22
His investments were spot on. Just look at REGN. It probably did better than he even expected thanks to covid.→ More replies (5)→ More replies (24)
u/timisher Jan 15 '22
Stocks damn near doubled since he was in jail.→ More replies (2)→ More replies (129)
u/Alpha_Decay_ Jan 15 '22
That's $14k per day. I would certainly spend a considerable amount of time in jail for $14k per day, but not 7 years. At that point you're just missing out on too many life experiences that you can never get back. No amount of money can buy your 30s back.
u/RehabValedictorian Jan 15 '22
Right, it scales down really well. Who wouldn’t spend 24 hours in jail for $14,000?→ More replies (8)→ More replies (4)
u/TocinoPanchetaSpeck Jan 15 '22
Yes but you get to have 7 years of new experiences you would have missed out on if not in jail.→ More replies (9)
u/girafa Jan 14 '22
This was how a lot of robbers would work. Jewel thieves/etc- they knew they'd get caught so the operation was to rob/steal, bury the loot, go to jail for 5 years, then come out and dig up their money.
u/GorillaX Jan 15 '22 •
Saw a documentary about this called "Blue Streak". Martin Lawrence was in it.
u/BNLforever Jan 15 '22
I also enjoyed his documentary with Tim Robbins "nothing to lose"→ More replies (5)→ More replies (13)
u/f3ydr4uth4 Jan 15 '22
I also enjoyed his documentary series, “Bad Boys”. It really showed me the challenges of public service in Miami.→ More replies (1)
u/sticky-bit Jan 15 '22
The problem with Shkreil's plan was that he didn't have a Senator as a father, like Heather Bresch does.→ More replies (1)
u/JollyGreenGiraffe Jan 15 '22
In the states there was a BMV car full of people that would rob 24/7 grocery chains a few years ago in NC and worked their way around the east coast. Just completely disappeared.
https://greensboro.com/news/public_safety/harris-teeter-stores-in-charlotte-robbed/article_1f61cf11-45e7-5b41-a54f-32730a660f52.html→ More replies (8)
u/pm_me_actsofkindness Jan 15 '22
The Silkroad guys did this for sure. Right around when their sentences were ending a lot of BTC in old wallets moved around lol.→ More replies (3)
u/JayCroghan Jan 15 '22
Didn’t one of them get life?→ More replies (16)
u/squeevey Jan 14 '22
It's a fun theoretical question - but gah, top cringe.
u/jml011 Jan 14 '22
Welcome to tomorrow’s top r/askreddit post→ More replies (2)→ More replies (31)
u/ajb32 Jan 14 '22
He def sounds like a sociopath. And of course he doesn't pay taxes. Fucker→ More replies (7)
u/De3NA Jan 14 '22
His plan was pretty genius. Raising the cost of some medicine so that he could charge the insurance company an insane amount and also offer cheap medicine if you contact him directly. If someone were to do both it’s a win win lose for the insurance company.
u/Thx002 Jan 14 '22
if you contact him directly.
It was for free if you contacted him.
However that was after the huge backlash so it's smart damage control.
I never understand why the guy went so public about everything, he was actively seeking the infamy. Doing a reddit AMA, doing livestreams... The Wu Tang thing.
If he had shut his mouth he would still be making millions and people would only only him by name.→ More replies (11)
u/De3NA Jan 15 '22
I get it. He went crazy.→ More replies (5)→ More replies (7)
u/ajb32 Jan 14 '22
Yeah. Except the insurers just pass the cost on to the people they insure. It's not like they're taking a loss. So yeah it's lucrative for him but he's just taking money from people playing insurance premiums.
The system in the US is beyond fucked. The fact we have a health insurance industry seems like a symptom of a problem to me. Insurers serve the shareholder first and the insured second.
u/rephyus Jan 14 '22
Except that its the standard for the ENTIRE industry. Look up any life saving drug, be in awe at the cost and then look up if they have a subsidy program. They always do.
Its much easier to paint a target on an individual versus a faceless corporation. Big pharma shifted all the spotlight on Shkreli because he was an individual. Doesn't help that he also has a punchable face. Another example would be the Elizabeth Holmes from Theranos. Not only was she found as a fraud, she actively kept trying to get into the spotlight. The media gets its tributes, and Big pharma gets to run away with the profits and the general public lose.→ More replies (6)
u/drumology2001 Jan 15 '22 edited Jan 15 '22
You’re right about the life-saving drug thing. I have Multiple Sclerosis, and I take Vumerity. I am on the manufacturer’s Co-Pay Assistance program…but if I wasn’t? They want FIVE THOUSAND dollars a month for those pills. It’s insane.
Also, Shkreli’s face is 1000% punchable. Smug AF.→ More replies (13)
Jan 14 '22
You’re not wrong at all, but he was doing what every other drug CEO does, and unluckily became the poster boy for our fucked up healthcare system. So many people in this thread think he was literally charging individuals hundreds of dollars directly, when, in fact, you could literally buy it directly from the company for like a dollar if you didn’t have insurance coverage. The masses just took the sensationalist headlines and ran with them.→ More replies (27)
u/Gingorthedestroyer Jan 14 '22 •
Let’s do insulin producers now.
u/Colorado1996 Jan 14 '22
Made millions from hiking prices from $13.50 to $750
Damn, saw that line and thought they were talking about insulin. Price gouging has happened on multiple life saving drugs? People are the worst
Jan 14 '22
Insulin should have a co-pay of about $2. Or less.
u/Colorado1996 Jan 14 '22
I think there’s a strong case that insulin should be free. But ya I’ll take $2 or less
u/Reutermo Jan 14 '22
It is free by law here in Sweden. Have been since the 60s.
u/SnooPineapples494 Jan 14 '22 •
It will be free in California, as we will produce our own. https://jrreport.wordandbrown.com/2020/09/29/california-to-make-its-own-insulin-generic-drugs-in-effort-to-lower-costs/#:~:text=California%20could%20make%20its%20own%20insulin%20and%20other,prescription%20drug%20label%20in%20his%20January%20budget%20proposal.
u/biggestbroever Jan 14 '22
If this is communist california, sign me up
u/cool---coolcoolcool Jan 15 '22
We can also buy alcohol of all types from almost every store on any day. Fuck you utah, zion you’re cool
u/fawks_harper78 Jan 15 '22
Canyonlands and Moab is pretty dope. Navajo country, Bears Ears. There is a lot to love in Utah. There just happens to have backwards assholes in lots of places. Like most places.
u/kkeut Jan 15 '22
so, the good parts of Utah are the parts that are essentially uninhabited and under federal or indigenous control. this definitely jibes with what my ex-mormom friends say and what I observed during my visits→ More replies (0)→ More replies (10)
u/SeriouslyUnknown Jan 15 '22
Can confirm, just moved from Utah to California→ More replies (13)
u/--0IIIIIII0-- Jan 15 '22
And Texas. Totally loves that freedom, but can't buy liquor on Sundays. Lol. Packaged liquors anyway.→ More replies (6)
Jan 15 '22
No, it’s far worse…. socialism!!!
I heard from Tucker that this can only mean the death of America if we don’t charge people a fee for being born with a genetic condition that can’t be cured and can only be treated daily.→ More replies (48)
u/ViniVidiOkchi Jan 15 '22
Remember when gay marriage was going to destroy the fabric of American society. And now nobody gives a shit.
u/Bigleftbowski Jan 15 '22
They need to find the next thing that will destroy America, otherwise, how else will they keep their audience in a constant state of paranoid frenzy?→ More replies (0)
u/myrddyna Jan 15 '22
There's people that give a shit, blame all their woes on it, and are actively trying to bring cases before our conservative SCOTUS to have that ruling reversed.→ More replies (11)
u/GETitOFFmeNOW Jan 15 '22
Oh, of course. "Destroying the fabric of American society" actually means "pisses me off that these people are allowed to exist."→ More replies (0)
u/gbuub Jan 14 '22
In communist California, diabetes have you→ More replies (5)→ More replies (25)
u/milk4all Jan 15 '22
If ever there was a state financially and socially ready to leave the union, it’s us. If it could be done without closing borders or too big a disruption to transport and trade, i wonder what that would look like with a few decades of preparation.
u/Splice1138 Jan 15 '22
With our ~54 electoral votes gone, the US would never elect another left president. It'd be Jesusland for real→ More replies (50)
u/Hotshot2k4 Jan 15 '22
The last time some states were serious about leaving the union, it didn't end well though.
u/erc80 Jan 15 '22
Yeah even in the capacity that they’re talking about it; it would still be a territory (which would still be wild). “Union let’s it’s best earner go independent”; is a headline that’s never going to happen.→ More replies (6)
u/Haughty_n_Disdainful Jan 15 '22
Frankly, my dear…→ More replies (31)
Jan 15 '22
I was under the impression that a good amount of infrastructure was based off power generation and water from the Colorado river?→ More replies (3)→ More replies (44)
u/MBThree Jan 14 '22
Your link is from 2020, is there any recent developments on this? Really hoping this plan moves forward→ More replies (6)
Jan 15 '22
[deleted]→ More replies (2)
u/HoseNeighbor Jan 14 '22
I don't think Sweden has as many idiots so easily convinced that universally accessible healthcare impinges on their personal rights. I mean, if someone really would rather accept insanely inflated costs, I'm sure someone will start boutique healthcare for them. I'd like to point out that they're currently giving a big thumbs up to making money from people who have NO choice but pay or DIE, while knowing those making the money certainly do NOT need it.→ More replies (3)
u/IronicBread Jan 14 '22
But muh communism→ More replies (50)
Jan 14 '22
u/TailRudder Jan 14 '22
Let them, then invade them, turn them back into a territory, and don't let them have senators.
u/Chillbruh469 Jan 15 '22
You might have a harder time fighting cartels off in Texas then actual Texans. The cartels basically own the bottom half of Texas. It Texas ever leaves they are going to have a bloody cartel fight to keep their land.→ More replies (1)→ More replies (5)
u/xpdx Jan 15 '22
Give their place to Puerto Rico, Texas can get back in once PR votes to let them back in.→ More replies (3)→ More replies (6)
u/HHH-mods-are-snakes Jan 15 '22
Argued with a dude in /r/conservative and he hit me with "So you blue states would have no problem if we decided we want to secede then right?". These people are delusional and have no idea how the world works.
u/tiefling_sorceress Jan 15 '22
Oh no whatever shall we do.→ More replies (4)→ More replies (2)
u/Leviathan3333 Jan 15 '22
Problem is, anything like laws and lines are person made and subject to social construction. So when enough delusional people believe it’s possible to do something…well you get people storming Capitol Hill.→ More replies (1)→ More replies (29)
u/cire1184 Jan 14 '22
This is America
u/Interesting_Market Jan 14 '22
Don't catch an illness here
u/onetwenty_db Jan 14 '22
It is the bill you fear→ More replies (1)→ More replies (1)
u/NotFlameRetardant Jan 15 '22
It is my freedom to spend twice as much on healthcare as the next closest country while receiving none of the benefits!
u/meco03211 Jan 14 '22
Won't someone think of the poor stakeholders? Should they suffer because people choose to become diabetic? Have they tried not being diabetic?
u/jetsetninjacat Jan 14 '22
Ive been trying 25 years. You know 120 years ago when diabetics were real diabetics, they just slipped into comas and died like real men and women. Not like us sissies today.
u/Basgerin Jan 14 '22
Yeah you should just die like a real man.
People have become so soyified.→ More replies (1)→ More replies (4)
u/monstrinhotron Jan 15 '22
They weren't real men! Most of them died as toddlers before they could grow up.
T1 diabetic for 4 years. Very grateful for the insulin.→ More replies (6)→ More replies (3)
u/RWGlix Jan 14 '22
Novak said of you have a really positive attitude about it you will be okay→ More replies (71)
u/cedarapple Jan 14 '22
We all pay higher insurance premiums due to price gouging on basic medicines that are covered by insurance.→ More replies (1)
u/PanJaszczurka Jan 14 '22
That pill cost 0,04-0,50 USD worldwide.
Jan 14 '22
Insulin should be free, like any other life-saving drug. What the fuck else are taxes for.
u/ripvannwinkler Jan 14 '22
Bailing out bad investments and playing world domination station, of course.→ More replies (1)→ More replies (10)
u/slurricanemoonrocks Jan 14 '22
poor people, duh.
u/TittyMcNippleFondler Jan 14 '22
But how would they make money after all the expenses related to research and development that were funded by grants that were funded by our tax dollars?
u/Gingorthedestroyer Jan 14 '22
When inventor Frederick Banting discovered insulin in 1923, he refused to put his name on the patent. He felt it was unethical for a doctor to profit from a discovery that would save lives. Banting’s co-inventors, James Collip and Charles Best, sold the insulin patent to the University of Toronto for a mere $1. They wanted everyone who needed their medication to be able to afford it.
u/Lisa-LongBeach Jan 14 '22
Same for Jonas Salk… I believe his response to why not patent his cure for polio was “Would you patent the sun?” A different world and morals today sadly.
u/_greyknight_ Jan 14 '22
Would you patent the sun?
- Fortune 500 CEO→ More replies (2)
u/horseydeucey Jan 15 '22
Nestle, would you patent... water?!→ More replies (3)
u/Jonne Jan 14 '22
Yeah, ask a capitalist if they would patent the sun and they'd be on the first rocket to the interplanetary patent office.
u/Discreet_Deviancy Jan 14 '22
THIS! It was never intended to be a for-profit product.→ More replies (1)→ More replies (7)
u/GreenStrong Jan 14 '22
That insulin is still very cheap; modern versions last longer and enables better regulation of blood sugar. They still shouldn’t cost as much as they do. The researchers who invented them should be rich, but it should not be such a racket for the corporations that produce it.→ More replies (3)→ More replies (5)
u/StinzorgaKingOfBees Jan 14 '22
Anything related to healthcare and medicine shouldn't be for profit. Then you are literally putting price tags on lives.→ More replies (16)
u/enleeten Jan 14 '22
Fuck that. I'm not a diabetic but it should just be covered.→ More replies (1)→ More replies (29)
u/SlamMeatFist Jan 14 '22
How bout no co-pay and make it free without insurance? Insurance is awful and its crazy we exist in a world where insurance is needed for anything medical otherwise you pay our the ass for it.→ More replies (2)
Jan 14 '22
Lots of European countries work that way. I don't know why the US can't.→ More replies (1)
u/Vlad_the_Homeowner Jan 14 '22
Price gouging has happened on multiple life saving drugs?
Yes, this has happened all across the medical field. For Epi pens, BMS's cancer treatment, Questcor's pediatric epilepsy treatment, Valeant's heart medication...
Shkreli just became the poster boy for it because of this face. It is physically impossible to not hate that face, ask his mom.→ More replies (83)
Jan 14 '22→ More replies (6)
u/lizardtruth_jpeg Jan 14 '22
Price gouging happens with nearly every drug in America. We are the only country in the world that does not allow a regulatory body to negotiate drug prices with drug companies. They can charge literally anything they want and our government is set up to facilitate that.→ More replies (3)
u/xenomorph856 Jan 15 '22
If only that was all of it. Not only do we pay the tag price, but we give them our tax monies to fund early research.
We're paying them twice to fuck us over.→ More replies (95)
u/ktkoolaid Jan 14 '22
Funny thing is this was written by Martin Shkreli to expose the rest of the industry when he was scapegoated. Certainly what he did was wrong but literally it plagues the whole indistry
u/NinjaLanternShark Jan 14 '22
Certainly what he did was wrong but literally it plagues the whole indistry
The very worst thing that could happen would be for people to somehow think that now that Shkreli has been punished, everything is good. There's so much more to be done.→ More replies (2)
u/meepmeep13 Jan 14 '22
How is it exposing them, if it's mostly links to lawsuits and fines? Isn't that evidence that they haven't been getting away with it?→ More replies (3)
u/SupaSlide Jan 15 '22
When the lawsuits/fines are so low that it's more profitable to just keep breaking the law, they're getting away with it.→ More replies (2)
u/omgburritos Jan 14 '22 edited Jan 14 '22
Joe Manchin's daughter
Edit: EpiPen, not insulin. But still...
u/Reddituser45005 Jan 14 '22
And she got a $30 millions golden parachute to exit the company after the EpiPen scandal. It has since, rebranded under a new corporate name and shuttered it’s primary manufacturing ( and only unionized ) plant in North America
u/polyrhetor Jan 14 '22
She was also the central player in the WVU executive MBA scandal, in which she claimed to have it, didn’t complete it, and when called on it the WVU admin falsified records rather than contradict her. As a Mountaineer grad I still feel perpetual outrage about this.
u/Sage2050 Jan 14 '22
Don't forget that daddy Manchin was friends with the CEO of said pharma company that made her COO out of college with no qualifications that she would later became CEO of.
u/QuickAltTab Jan 14 '22
Double don't forget that mommy manchin was the head of the WVa board of education and spearheaded the campaign to require schools to purchase epipens, which coincidentally enough coincided with her daughter's campaign to price gouge on the price of said epipens.
u/ArtisanSamosa Jan 15 '22
And now they are going around blocking infrastructure spending, child tax credits, minimum wage increases, etc... Ya'll ever seen the embodiment of evil? I've heard of this Satan guy, but he doesn't seem as bad as these people.→ More replies (2)
u/Sage2050 Jan 15 '22
Wow it's almost like the entire family is shit→ More replies (1)→ More replies (2)
u/jacobpellegren Jan 14 '22
That is completely fucked.
u/IHeartBadCode Jan 14 '22
Interesting thing about EpiPen is that eventually generics and alternative forms got made. Around 2018 EpiPen was about 90% the market, today it’s about 10%.
That said, the makers of EpiPen are also the makers of one of the generics. I’m currently using one of the generics made by someone else Auvi-Q. There’s also one done by CVS. That said, the cash price of generics is still pretty high.
For mine, there’s a website you can go to that you sign up for and it takes about $200 off the price, so I pay about $25 per year for the medication. And that’s a similar situation for a lot of the other generics. Hoops one must jump through to get more affordable prices. I’ll never understand why they must have these hoops one must jump through. But we have at the very least gone from one maker to like three, so there’s a bit of hope that it’s changing somewhat.
u/wiggins-ender Jan 14 '22
Having hoops to jump through makes it more likely that people with the means to just pay will do so rather than jump through said hoops.
Super shitty antics.
u/TheFAPnetwork Jan 14 '22
I take an injection for psoriasis. My copay was $3,000 with insurance. I was given a phone number to call where I get a break in the price so I only pay $5.00 . The fact that I had to go through three separate people to get where I needed to is bonkers.
I've seen the medication as high as $19,000.00→ More replies (4)→ More replies (6)
u/LookingintheAbyss Jan 14 '22
And if you don't have time to hunt for hoops, you get to pay the full price.
u/Dr_Nik Jan 14 '22
Look at Mr Fancy here using non-expired medication.→ More replies (15)
u/morbie5 Jan 14 '22
From what I understand the generic EpiPen still cost more now than the original EpiPen cost before Joe Manchin's daughter raised the price.→ More replies (3)
u/najing_ftw Jan 14 '22
That surprises me, but it shouldn’t
u/omgburritos Jan 14 '22
If Biden had more balls, he would've used her corruption as leverage to pass the budget reconciliation package→ More replies (48)
u/theantig Jan 14 '22
Can we go after Manchin’s daughter?→ More replies (2)
u/Gingorthedestroyer Jan 14 '22
Yes, light the torches.
u/theantig Jan 14 '22
We need to put pressure on him and she’s evil for the same reason. It’s a win/win
u/Good_old_Marshmallow Jan 14 '22
Or EpiPens. Wild that for all the hate Shkreli gets, the daughter of a prominent US Senator (Joe Manchin's daughter) does the same damn thing and got the job through him
u/droi86 Jan 14 '22
See, he marking up the medicine, was totally cool, but he stole money from rich people which is a big no-no→ More replies (20)
u/lomelyo Jan 14 '22
Regarding Pharmaceuticals the only difference between him and other companies is that he didn't have a PR team. And more important medicines than Daraprim are ruining life the life of people and Congress doesn't do anything because it's more difficult.
I think that guy deserves what he got; but it bothers me when justice is only applied to one person. Because then I don't know if it's really justice or just a witch hunt.→ More replies (1)
u/Technosyko Jan 14 '22
It’s so fucking sad what insulin producers do now considering the team that came up with a way to synthesize it sold the patent for $1→ More replies (1)
u/Frankenmuppet Jan 14 '22
It floors me how much people pay for Insulin in the States.→ More replies (5)
u/IdasMessenia Jan 14 '22
It floors some diabetics too.→ More replies (1)
u/ItzMcShagNasty Jan 14 '22
People always forget. He is not gong to jail and losing his money for the moral crimes of stiffing patients for tons of money and being a general POS, he's going to jail because he ripped off some rich people.
They will not go after insulin producers, the problems in this country will not be fixed with healthcare because of this. Shkreli is a shitbag but this is unrelated to any of our countries other problems with healthcare.→ More replies (12)→ More replies (87)
u/alexanderpas Jan 14 '22 edited Jan 14 '22
Insuline prices would have been limited to $35/month as part of the Build Back Better Act, but we all know how that ended after Manchin pulled his support.→ More replies (6)
u/Helphaer Jan 14 '22 •
Don't forget too easily that while this guy is a good poster boy for bad behavior, he is the convenient scapegoat that everyone can point to as a distraction from their own issues.
u/PrehistoricDawg69420 Jan 14 '22
He's the face of what everyone else is doing.
u/jml011 Jan 14 '22 •
Hoarding the only copy of unreleased Wu Tang clan albums?
u/righttoplay Jan 14 '22
It was auctioned off and now belongs to the PleasrDAO group→ More replies (11)
u/BraveFencerMusashi Jan 14 '22
Who is working with GameStop and Loopring on something→ More replies (1)
u/Loverboy_91 Jan 15 '22
Something something ape tits jacked something.→ More replies (7)→ More replies (21)
u/ittozziloP Jan 14 '22
The original NFT→ More replies (5)→ More replies (25)
u/ImpossibleParfait Jan 14 '22 edited Jan 14 '22 •
His problem was simply that he wasn't part of the club. The big market players all do what he did.→ More replies (22)
u/Ph0X Jan 14 '22
Nah, the problem is that he craved attention, streamed and showed off publicly. Most people who do shit like this stay behind 10 layers of corporate structures and keep away from the light.→ More replies (2)
u/Helenium_autumnale Jan 15 '22
It's LLCs all the way down...
Jan 14 '22
Thank you. He’s the fall guy they’re hoping to throw at us so we don’t go after the rest of them. Keep prosecuting.→ More replies (3)
Jan 14 '22
Exactly. This guy is the scapegoat for Big Pharma, who are sliding by doing the same thing unnoticed. And they love it.→ More replies (36)→ More replies (65)
u/framk20 Jan 14 '22
Everyone who's done an ounce of research knows his only mistake was going after the rich→ More replies (6)
u/Rickshmitt Jan 14 '22
Wow lifelong banishment from the drug consortium. Suprised its not just a couple months slap on the wrist like all these others sentences being handed down on pillows and apologies
u/toiletting Jan 14 '22
If he didn’t make himself such a prominent name he probably would have received a lesser punishment. This is a statement more than anything.→ More replies (12)
Jan 14 '22
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u/InflamedLiver Jan 14 '22
that smarmy little worm is just going to burrow himself into another industry and do the same thing. He's shown zero remorse so I'm pretty sure he's just a greedy sociopath
u/DragonTHC Jan 14 '22
Smarmy pharma bro has crypto bro written all over his smarmy face.→ More replies (2)→ More replies (8)
u/nau5 Jan 14 '22
I mean he is a little worm but he was in an industry rife with little worms.
Glad our justice system can pat itself on the back though while people die not being able to afford insulin→ More replies (2)
u/KickNaptur Jan 14 '22
Return the money to who exactly? Is the government just taking it? Or does it go to the insurance companies, or the drug companies???? Nobody thats actually going to touch this money deserves it
u/cat_using_a_computer Jan 15 '22
From the article –
“Vyera and its parent company, Phoenixus AG, settled last month, agreeing to provide up to $40 million in relief over 10 years to consumers and to make Daraprim available to any potential generic competitor at the cost of producing the drug.”
If I understand this correctly a sizable chunk is being refunded to customers.
u/KickNaptur Jan 15 '22
Thank you→ More replies (7)
Jan 15 '22
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u/KallenGuren Jan 15 '22
The drug was free for uninsured people→ More replies (2)
Jan 14 '22
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u/the_busticated_one Jan 14 '22
Last time I checked, cash price for 10 days of insulin for my kid was $300. Granted, that's been 3 or 4 years, so I'm sure it's increased.
Literally, just the vial of insulin. That's not syringes, test strips, etc.
u/thrilla-noise Jan 14 '22
and literally the same drug from the same factory in the same quantity is around $20 OTC in Canada without any insurance.→ More replies (21)
u/BikerJedi Jan 14 '22
If any of us ever need it, I'll drive to Mexico or Canada once a year and stock up using tax money.→ More replies (7)→ More replies (8)
u/Folium249 Jan 14 '22
With good insurance it’s 300 for a 3 month supply. (9 pen) Or roughly 75 a pen. Vials are about about a third for that. But the cost of needles balances it out. That’s for the short lasting. I didn’t factor in the long lasting in the above.
Without it and it was an emergency it was close to 175 for a pen… sucks high hell but it’s a needed medicine.
u/heresyforfunnprofit Jan 14 '22
Shkreli should have known better. That sort of behavior is only legal if you’re a member of Congress!
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u/jenna_hazes_ass Jan 14 '22
Im thoroughly convinced he wouldve walked on everything if he didnt offer 5grand for a locke of hillarys hair.→ More replies (5)
u/xchadrickx Jan 15 '22
Holup. He what?→ More replies (5)
u/jenna_hazes_ass Jan 15 '22
You read it right.→ More replies (3)
u/ADarwinAward Jan 14 '22
Now do the sackler family
Jan 15 '22
Last I heard they're drawing out the trial as long as possible by appealing everything they can.→ More replies (2)→ More replies (4)
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u/bserum Jan 14 '22
Padme meme: we’re applying this standard to all price gougers, right?
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u/JohnnyMnemo Jan 15 '22
The only mistake that Shkreli made was talking out loud about this stuff.
You're not supposed to be a public dick about it and then taunt Congress. You're just supposed to do it and then sail off into the sunset.
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u/lrkt88 Jan 15 '22
100% this is the only reason. He did not come up with this strategy on his own, he just botched the execution and now needs to be publicly flogged to make us think the current system can be fair.
u/Griffisbored Jan 14 '22
While he did do many unscrupulous things, punishing him is the equivalent of cheering about putting a local drug dealer in prison while ignoring and refusing to prosecute the massive cartels.
He was the head of a small start-up that employed a strategy that is used by almost all the largest multi-billion dollar pharmaceutical companies in the world. What he did effected a really small group of people (and he actually offered case by case discounts to those whose insurance wouldn't cover it) compared to the companies manufacturing products like insulin who have millions of patients.
He was made an example of because he was a small time player who didn't have the lobbying and financial power to control the system like the big pharma companies who are the biggest criminals. He did bad things but calling this a win only distracts from the real problem.
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u/GoneFishing4Chicks Jan 14 '22
Reminder that iran contra means reagan was a cartel boss→ More replies (1)
Jan 15 '22 edited Jan 15 '22
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u/luckydice767 Jan 14 '22
Just remember, he didn’t get sentenced to jail for price gouging. It was securities fraud.
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Jan 14 '22
Ok. Then do Manchin’s daughter next!
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Jan 14 '22
A sacrifice for the appeasement of the unwashed masses.
What Shkreli did was completely in line with the economic system of the USA and the so-called free market's logic. Shkrelli's crime was openly admitting to it.
u/WelpSigh Jan 14 '22
i mean, he did not openly admit to securities fraud. his shit with drug price gouging raised his profile and made prosecuting him easier, but that wasn't what he got convicted for. he defrauded investors, especially large hedge funds, which is generally not OK for anyone (see: elizabeth holmes)→ More replies (3)→ More replies (5)
u/EvolD43 Jan 14 '22
Ive started watching some of his lessons on youtube. Surprisingly good (if not too long) and, yes, he seems well within for what is normal in that 'industry'. There do seem to be worse villians out there.→ More replies (5)
u/Budderfingerbandit Jan 15 '22
Cool, let's go after all the other drug making CEO's who's life saving medications have increased multiple times over for no reason other than pure greed.
u/MikoWilson1 Jan 15 '22
Everyone should look up how much the USA spends each year on free dialysis. Now, ask why people who need dialysis deserve life saving treatment, and people with diabetes do not.
There is no answer to that -- they both deserve lifesaving treatment.
Then ask why people who need acute care, do not deserve life saving treatment.
There is no answer to that -- because health care should be universal.
u/whowasonCRACK2 Jan 14 '22
My mother tried to ban me from the drug industry in high school. Can’t say it worked.
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u/SquirrelRailroad Jan 15 '22
Price gouging has been going on for decades in the US. He took advantage of the broken system and became the poster boy for bad pharma. Not the first and won’t be the last. Perhaps new laws could put in place to prevent this from happening? Probably won’t happen soon enough.
Jan 15 '22
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u/Quinquilharia Jan 14 '22
Now do the rest of them
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u/mrbriandavidanderson Jan 14 '22 edited Jan 15 '22
What about the Wu Tang album?!?!
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u/RollUpTheRimJob Jan 14 '22
He doesn’t own it anymore→ More replies (17)
u/zigaliciousone Jan 15 '22
He was punished for saying the quiet part out loud.
It's probably some Ferengi law of acquisition that days not to rub your customers nose in the fact that you are ripping them off
Jan 14 '22
I’m confused - why does he get in trouble but other pharma companies don’t?
u/Sumocolt768 Jan 15 '22
He didn’t get in trouble for hiking prices. He got in trouble for taking rich people’s money.→ More replies (9)
u/Say_no_to_doritos Jan 14 '22
He fucked hedge funds
u/Han_Slowlo Jan 14 '22
Not even that he fucked hedge funds. Just that he fucked them publicly. Everyone fucks everyone in business. The only thing they care about is their image to investors.→ More replies (1)
Jan 14 '22
So it bc rich people aren’t allowed to get fucked over like us poors→ More replies (1)
u/persondude27 Jan 14 '22
Yes. Take a look at the Elizabeth Holmes trial.
Defrauding investors? Guilty on four counts.
Three felony counts of defrauding patients? Conspiracy to defraud patients? Not guilty.→ More replies (3)
u/smokecat20 Jan 15 '22 •
In other news: Judge tosses $4.5 billion deal shielding Purdue’s Sackler family from opioid lawsuits