r/news Jan 14 '22 Silver 19 Gold 1 Helpful 19 Wholesome 18 Evil Cackle 3

Shkreli ordered to return $64M, is barred from drug industry

https://apnews.com/article/martin-shkreli-daraprim-profits-fb77aee9ed155f9a74204cfb13fc1130
54.9k Upvotes

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852

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

393

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.

254

u/[deleted] Jan 14 '22

[deleted]

62

u/richraid21 Jan 14 '22

That website is a fucking joke.

The original source was about analyst reports that no one can disagree with:

While this proposition [gene therapy, cures] carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow

The idea being that the R&D expenses may not be recouped if the market isn't large enough.

12

u/[deleted] Jan 15 '22 edited Jan 15 '22

So when they die they would rather have a larger number in their bank account... rather than the adoration of all of humanity, savior of millions of lives, and conqueror of one of the greatest puzzles humanity has ever encountered under their belt? So well known that their legacy would be passed down for hundreds, if not thousands of years?

Not to mention they are also human and might die of cancer?

1

u/Northern-Canadian Jan 15 '22

If a researcher discovers a cure for cancer then I’d doubt the could keep a lid on it until the day they die.

It’s too important to humanity.

1

u/NathanBlackwell Jan 15 '22

Also that researcher would be a billionaire from the patent or just general publicity things alone.

2

u/[deleted] Jan 15 '22

“What are we going to do without our market of sick and dying customers?”

4

u/swolemedic Jan 14 '22

There is a huge difference between excusing reports on expected financial outcomes of actions and excusing not doing R&D for something that could save tons of lives and eradicate a disease because the profits would not be great enough to account for the costs the company does all the time and will eat if they think it could profit.

There's a point where if they have the capability and others do not there is a strong moral argument.

-14

u/[deleted] Jan 14 '22

[deleted]

29

u/richraid21 Jan 14 '22

I never rejected the fact. I was making fun of your 2003 geocities website called "Uncensored".

In fact, I even quoted the same sentence CNBC does.

There's no indication Goldman Sachs wants people to die, simply that there are revenue implications of transitioning pharmaceutical companies from recurring care to permanent gene therapy.

Goldman Sachs is an investment bank; of course they'd publish their thoughts on the financial implications.

-8

u/Webbyx01 Jan 14 '22

The first company to cure cancer will literally corner the market. And its not like people will stop getting cancer/needing treatment to prevent it, since people are always being born and aging.

1

u/BienOuiLa Jan 15 '22

They still mad at al the money they lost on Polio

6

u/zirtbow Jan 14 '22

Makes me more curious if Holmes will get a stiff sentence or get a few years with a long probation because of things such as her recently having a kid.

10

u/Say_no_to_doritos Jan 14 '22

Now that is an evil broad.

5

u/Pensive_1 Jan 14 '22

I think her crime was greater - the damage to REAL start-ups and promising tech was huge. Price hikes are easily reversible, but those $$$ Holmes kept from REAL technologies are forever gone.

1

u/sandysnail Jan 14 '22

yeah the infamous celebrity thing he was going for was actually putting light on things other rich people didn't want light on

1

u/Dlh2079 Jan 15 '22

He was made to look like he's being made an example of but he's also likely a scapegoat to as he's gonna take the fall while similar shit happens all over the industry

1

u/iDuddits_ Jan 15 '22

If he didn’t then no one would know his name. Just like so many other pharma bros that are still making way too much money

89

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

45

u/DragonTHC Jan 14 '22

Smarmy pharma bro has crypto bro written all over his smarmy face.

2

u/Rickshmitt Jan 14 '22

Should we make a smarmy coin with his face and force him to buy into it then dump it?

3

u/Team_bhip Jan 14 '22

Call it shkroin

51

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

6

u/Rickshmitt Jan 14 '22

Yes and yes. He will never care, these white collar sentences dont hurt enough to not do the crime. CRIME ALMOST ALWAYS PAYS for these people. Not normies like us.

1

u/penster1 Jan 14 '22

Pretty sure? You mean certain?!

-1

u/Now__Hiring Jan 14 '22

I'm sure he'll find an audience full of QAnoners, /r/wallstreetbets members, and various other smoothbrains to scam. In fact I'm sure he'll be part of Trump's next campaign.

1

u/Phrozenpu Jan 15 '22

I think you might be missing it...he is just a one flea on the back of the dog. I really think he was trying to show you what Big Pharma was already doing but went about it trying to make a name for himself at the same time.

22

u/Delanorix Jan 14 '22

He took money from rich people and screwed them over

You don't screw over rich people in the USA.

2

u/bubumamajuju Jan 15 '22

Screwed them over is more applicable to Holmes. Shkreli made them look bad which is possibly worse (in terms of punishment).

2

u/dannylovesart61 Jan 15 '22

Exactly. Which is why Elizabeth Holmes is getting shafted too.

2

u/habb Jan 14 '22

i really am curious who else you can name in drug sentences. the satlers? I mean those are the only two i can think of. phrama boy and satlers

2

u/MoesBAR Jan 15 '22

This guy has been an cocky ass since Obama was President.

2

u/TheWhiteSquirrel Jan 15 '22

I wasn't aware judges had the power to do something that specific. Is it under an anti-trust rule or something else?

2

u/DDWILDCARD Jan 15 '22

Should be harsher. A lot harsher. He shouldn't be walking out of prison.

4

u/Thatguy468 Jan 14 '22

We’ll see his head pop up in biotech or some other fringe investment he can manipulate.

3

u/gurmzisoff Jan 14 '22

handed down on pillows and apologies

Is this a common phrase that I've never heard before? Either way I love it.

1

u/Rickshmitt Jan 14 '22

Not that I'm aware, its all yours my friend!

1

u/heresyforfunnprofit Jan 14 '22

I’m very curious how legal and enforceable that order is.

1

u/userlivewire Jan 14 '22

He’ll just hire proxies to do it for him.

1

u/peanutputterbunny Jan 14 '22

What is the banishment? Sorry if I'm not up to speed but idk what the punishment is exactly here. Is it banishment from a legal drug consortium? And for how long?

Banishment from an illegal drug cartel? Then why is he not looked after? Or in prison??

1

u/Sesjoemaru Jan 15 '22

[Purdue Pharma has entered the chat]

1

u/4606120 Jan 15 '22

If that judgement really surprises you, start price gouging and see what happens.

1

u/Lost4468 Jan 15 '22

I mean we certainly know he's not getting a slap on the wrist... dude has been in prison for several years now, and has a few more to go.

1

u/pmjm Jan 15 '22

He's just going to leave the country and start a pharma company somewhere else less regulated.

1

u/am0x Jan 15 '22

Because all drug companies are doing it. He was just blatant about it. And that’s also a reason why he claims he did it.

0

u/DeadLeftovers Jan 14 '22

Doesn't mean much when you have proved you are willing to lick anything off a boot.

0

u/monkeyman80 Jan 15 '22

It's not like he made his fortune from it like the Sacklers. He just saw an opportunity to gouge and thought he could get away with it.

2

u/bubumamajuju Jan 15 '22

He’s not in jail for anything related to price gouging