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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13.9k

u/Gingorthedestroyer Jan 14 '22 Silver Gold Helpful Take My Energy Starry

Let’s do insulin producers now.

4.1k

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

1.9k

u/[deleted] Jan 14 '22

Insulin should have a co-pay of about $2. Or less.

2.0k

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

1.2k

u/Reutermo Jan 14 '22

It is free by law here in Sweden. Have been since the 60s.

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u/SnooPineapples494 Jan 14 '22 Helpful

1.0k

u/biggestbroever Jan 14 '22

If this is communist california, sign me up

368

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

94

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.

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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

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u/SeriouslyUnknown Jan 15 '22

Can confirm, just moved from Utah to California

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u/johnhills711 Jan 15 '22

assholes? Like mormons?

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u/--0IIIIIII0-- Jan 15 '22

And Texas. Totally loves that freedom, but can't buy liquor on Sundays. Lol. Packaged liquors anyway.

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u/Egechem Jan 15 '22

Damn communist Safeway selling alcohols on a Sunday.

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u/Raveynfyre Jan 15 '22

Just wish CoL wasn't so high out there. It's most comparable to my state weather wise, but isn't governed by an idiot Trumpanzee. I've lovingly nicknamed him Gov. DeathSentence due to his (mis)handling of this virus response, and it applies once again due to complete and total lack of testing sites funded by the state, etc.

2

u/ralphy1010 Jan 15 '22

The bodega never closes in NYC.

2

u/Mister_Brevity Jan 15 '22

Why does Utah have so many arbys. Haven’t been in years but I remember exactly two things. Floating down the river in Zion with fish biting the hair on my legs, and eleventy billion arbys.

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u/Saith_Cassus 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.

134

u/ViniVidiOkchi Jan 15 '22

Remember when gay marriage was going to destroy the fabric of American society. And now nobody gives a shit.

15

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?

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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.

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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."

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u/Foux-Du-Fafa Jan 15 '22

And now nobody gives shit.

laughs in alabama

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u/Sir_Ampersand Jan 15 '22

Have you seen drug prices? What do you think caused that? Obviously the gays with their aids, ffs

2

u/A_wild_so-and-so Jan 15 '22

Or rock n roll, or Dungeons & Dragons, or Mortal Kombat, or rap music, or interracial marriage, or ... or...

2

u/Regendorf Jan 15 '22

What do you mean, a lot happened

2

u/-ShagginTurtles- Jan 15 '22

Now they pretend like that wasn't them fighting against that. Same thing like drinking booze, smoking dope or giving women rights. When the hindsight makes you always look shitty, and the economy still sucks under right wing governments just as much as liberal ones (bc they basically have the exact same policies), maybe you're just on the shitty side y'know

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u/sf_frankie Jan 15 '22

Not just daily. I’ve got a tube of the shit stabbed into my body 24/7 for the rest of my life! And I have to pay extra for that feature!

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u/gbuub Jan 14 '22

In communist California, diabetes have you

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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.

118

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

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u/fersure4 Jan 15 '22

If CA ever tried to leave the country many other states would follow suit.

I honestly wouldn't hate America splintering into several different countries.

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u/wakenbacons Jan 15 '22

And they would liberate you and your resources IMMEDIATELY.

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u/Hotshot2k4 Jan 15 '22

The last time some states were serious about leaving the union, it didn't end well though.

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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.

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u/Haughty_n_Disdainful Jan 15 '22

Frankly, my dear…

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u/jwmosher 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?

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u/allharveybman Jan 15 '22

Can Massachusetts come to?

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u/aquoad Jan 15 '22

But what about the big effort going on to make people think california is terrifying and crime ridden!

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u/Bullen-Noxen Jan 15 '22

Sign the whole country up. Anyone who doesn’t like it can dig a hole in the ground & lie in it, covered with the dirt removed from the hole.

3

u/biggestbroever Jan 15 '22

If this pandemic has taught me anything, it's that people are willing to die so that other people can't have nice things

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u/MBThree Jan 14 '22

Your link is from 2020, is there any recent developments on this? Really hoping this plan moves forward

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u/[deleted] Jan 15 '22

[deleted]

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u/GETitOFFmeNOW Jan 15 '22

The sheer relief of human suffering and anxiety is going to make the entire country 17.6% lighter. Bless Newsome's handsome little head.

2

u/FreshUnderstanding5 Jan 15 '22

Your aunt is a smart lady

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u/DavidG993 Jan 14 '22

God damn it I love living in this state

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u/BeachSandMan Jan 15 '22

Me too. In my experience, the people who hate on California always seem to be dialing in from some Midwest or Southern shithole

20

u/DavidG993 Jan 15 '22

Oh, you mean those states that are being propped up by the tax money from CA?

Yeah, those states are shitty and full of dead company towns

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u/GETitOFFmeNOW Jan 15 '22

I live in the Midwest and the only thing I hate about California is how I can't afford to buy a house there.

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u/Hendrixsrv3527 Jan 15 '22

You can like California and acknowledge there’s some major issues going on with the state

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u/DavidG993 Jan 15 '22

I do. No state is perfect, but policies here get adopted by other states all the time so I'm gonna keep loving this place

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u/star0forion Jan 15 '22

Or those Californians who live in State of Jefferson territory. California is great.

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u/noptamoius Jan 15 '22

That’s amazing. Hope it works out and California can export to other states too.

2

u/Jfk_headshot Jan 15 '22

Sucks that due property taxes and other things the only people who can afford to live there without cramming 8 people in a studio apartment are the rich and I guess homeless.

2

u/aarondoyle Jan 15 '22

California straddles a very fine line to being its own country. I think it would be, but that's just me and I'm happy to disagree politely.

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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.

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u/Oddyssis Jan 15 '22

Ofc they need it. How else will they pay off the mortgage on their fifth house and their new jet?

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u/IronicBread Jan 14 '22

But muh communism

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u/[deleted] Jan 14 '22

[deleted]

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u/TailRudder Jan 14 '22

Let them, then invade them, turn them back into a territory, and don't let them have senators.

21

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.

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u/xpdx Jan 15 '22

Give their place to Puerto Rico, Texas can get back in once PR votes to let them back in.

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u/TucuReborn Jan 15 '22

In all seriousness though, our territories should be converted into states.

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u/klavin1 Jan 15 '22

Wall them off too

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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.

17

u/tiefling_sorceress Jan 15 '22

Oh no whatever shall we do.

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u/Ragnarok314159 Jan 15 '22 edited Jan 15 '22

Pay less In federal taxes from having to support all the red state leeches? That would be nice.

Republicans/Conservative people have the same mindset as housecats - they walk around pretending to be tough, when in reality are fat, stupid, and have no understanding of the science and the system that supports their lifestyle.

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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.

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u/aquoad Jan 15 '22

oh man, go for it guys!

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u/Pack_Your_Trash Jan 15 '22

Independent Texas would be a petrol state.

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u/ShavenYak42 Jan 15 '22

Let them go, then maybe kids in the rest of the US can have textbooks with actual facts in them.

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u/Captain_Smartass_ Jan 14 '22

Sweden = North Korea

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u/northwesthonkey Jan 14 '22

North Korea=Finland

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u/Michchaal Jan 14 '22

I mean both Koreans and Finns are pretty much Mongols, right?

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u/cire1184 Jan 14 '22

This is America

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u/Interesting_Market Jan 14 '22

Don't catch an illness here

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u/onetwenty_db Jan 14 '22

It is the bill you fear

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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!

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u/V0dkafa11 Jan 14 '22

Det är bra men vissa amerikaner tycker att Sverige är ett demokratiskt socialistiskt land. Det är det inte.

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u/[deleted] Jan 14 '22

Det är bra men vissa amerikaner tycker att Sverige är ett demokratiskt socialistiskt land. Det är det inte.

"That's a good thing, but some Americans think Sweden is a democratic socialist country. It's not."

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u/[deleted] Jan 14 '22

Who gave me a thumbs-down just for TRANSLATING???

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u/chefjenga Jan 14 '22

Silly Swedes. Thats not "free"! Any warm blooded 'murcan knows you've got to pay a price for freedome!!!

(and in this case, the price is thousands of dollars a year not to die)

/s

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u/jkuhl Jan 14 '22

It was supposed to be free. The guys who invented it intended for it to either be free or incredibly cheap.

This bullshit today? It's not what any of them wanted.

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u/Factorybelt Jan 15 '22

Yeah, but you don’t have freedom like we do in America!

/a

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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?

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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.

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u/Basgerin Jan 14 '22

Yeah you should just die like a real man.

People have become so soyified.

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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.

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u/jetsetninjacat Jan 15 '22

I learned something fascinating the other day when reading about J. R. R. Tolkien. His mother had Type 1. Now before insulin was finally purified and useable for humans they did come up with a kind of treatment. This treatment was after they tried the eat sugar one(yes they really did that). Anyways they learned a near starvation dier with exercise could help a diabetic live long enough. Tolkiens mom lived until 34 when she finally died from DKA. Before insulin, 34 was essentially the top age a diabetic could reach with the starvation and exercise plan.

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u/monstrinhotron Jan 15 '22

My version today is a low carb diet and a 3 mile walk everyday.

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u/jetsetninjacat Jan 15 '22

Yeah type 2, sure. Not for us type 1.

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u/krozarEQ Jan 15 '22

Damn millennials these days think they're entitled to living! Hell my grandpappy ate nothing but bacon and syrup, smoked 2 packs before lunch, cut out a melanoma every day and walked around punching rattlesnakes in the face.

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u/RWGlix Jan 14 '22

Novak said of you have a really positive attitude about it you will be okay

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u/Rye_The_Science_Guy Jan 15 '22

Praise be to supply-side Jesus

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u/Greenfire32 Jan 14 '22

It costs between $2-$4 to produce a single vial of insulin. The fact that drug companies are selling it for $100+ isn't just criminal, it's inhumane.

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u/Oreganoian Jan 15 '22

It's amazing to me that dialysis is completely free in the United States but insulin isn't.

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u/Grantlet23 Jan 15 '22

Read the first paragraph

I thought this was right. Sadly the greedy bastards thought otherwise

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u/No-Function3409 Jan 15 '22

I'm just amazed no one's looked at the American health market, seen its horrifically over priced and simply... undercut all the competition while still making a ton of money.

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u/time_wasted504 Jan 15 '22

If Argentina can make it free...?

A country that is economically fucked. Makes you wonder.

Lantas and Humulin are free in Kuwait. Jussayin.

https://worldpopulationreview.com/country-rankings/cost-of-insulin-by-country

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u/Lucky-Variety-7225 Jan 15 '22

Word, it is a preventative drug. Hospital costs from Not taking Insuline would eat any benefits. The "real" scam is killing the poor, while shielding the middle class.

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u/Asmodean_Flux Jan 14 '22

There's a strong case that everything being free would be wonderful. The day where everyone can have robots doing everything can't come soon enough, for me.

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u/ElaborateCantaloupe Jan 14 '22

We have tons of robots and all we have seen is more pressure to produce more with fewer people, other worker exploitations like a larger wage gap. What do you think will happen when even more human jobs are replaced by technology?

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u/Tibetzz Jan 14 '22

Hopefully, common sense regulation encouraging and supporting the comfort of a permanently majority-unemployed populace.

In reality, exactly what you described continuing to get worse.

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u/AngelusAmdis Jan 14 '22

How about a more accessible higher education and reduced working hours/retiring early as most everything becomes automated and the need for manpower is mainly just for new innovations and maintenance, and entertainment

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u/GrandpasSabre Jan 14 '22

Robots are being used all the time all over the world. At the Renesas Saijo wafer fab in Japan, you can see giant robots on the road doing a sort of dance around each other as they bring chemicals from one location to another, and inside there are smaller robots carrying equipment down the hallways. In the clean room, there are tracks up above with robots carrying semiconductor wafers (that turn into computer chips) from place to place, like miniature trains.

Robots are everywhere and being used all the time!

Robots could be used to reduce our working hours and make life easier for humans. Instead, they are used to maximize profits for the company by reducing the work force. Instead of using robots to minimize the work humans need to do and make life easier for all of us, robots are being used to minimize the number of humans on the payroll.

Its fucked.

The day when robots can do everything is going to be a very sad day.

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u/exus1pl Jan 14 '22

Do you realize that most of the stuff that robots transport is hazardous and giving this job to humans is exposing them to those materials? Also despite protective clotting humans tend to shed skin and hair, so in some areas humans are just bad for technological process.

It might be more than humans are expensive on payroll.

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u/cedarapple Jan 14 '22

We all pay higher insurance premiums due to price gouging on basic medicines that are covered by insurance.

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u/PanJaszczurka Jan 14 '22

That pill cost 0,04-0,50 USD worldwide.

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u/_KingKaliYuga Jan 14 '22

Insulin should be free, like any other life-saving drug. What the fuck else are taxes for.

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u/ripvannwinkler Jan 14 '22

Bailing out bad investments and playing world domination station, of course.

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u/slurricanemoonrocks Jan 14 '22

poor people, duh.

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u/toth42 Jan 15 '22

Lol no then we'd save the lives of the poor too, no one wants that(incredibly, a lot of poor people seriously agree with my sarcastic stance)

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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?

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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.

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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.

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u/_greyknight_ Jan 14 '22

Would you patent the sun?

Uh, duh!

- Fortune 500 CEO

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u/horseydeucey Jan 15 '22

Nestle, would you patent... water?!

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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.

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u/Raptor169 Jan 14 '22

Speaking from memory so correct me if I'm wrong but I remember Salk did try to patent but was rejected because polio vaccine was considered part of nature.

Still doesn't take away from your point though.

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u/Lisa-LongBeach Jan 15 '22

I’m pretty sure those were his words, but not 100% sure. Back then unrestrained greed wasn’t as acceptable or worshipped as it is today

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u/Raveynfyre Jan 15 '22

A different world and morals today sadly.

I really wish some things had never changed.

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u/Discreet_Deviancy Jan 14 '22

THIS! It was never intended to be a for-profit product.

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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.

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u/IcarusOnReddit Jan 15 '22 edited Jan 15 '22

Researchers don't make the big money, the bloodsucking CEOs do.

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u/SirReal14 Jan 15 '22

And that type of insulin is $20 at Walmart. Modern, significantly safer insulin that has been recently invented is what is expensive.

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u/markh110 Jan 15 '22

You say that like it's a reasonable thing; you can get about a year's supply of modern insulin in Australia for ~$55USD. Americans are being exploited, and I'm so angry on your behalf.

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u/Red_AtNight Jan 15 '22

It's worth pointing out that Banting's method was to extract insulin from a dog's pancreas. It worked, but it wasn't very efficient. For about 50 years, all commercial insulin came from cows and pigs from slaughterhouses... similar issues to dog pancreas, and because it came from non-human animals, it had a risk of causing allergic reactions. That was the state of things until 1978 when synthetic insulin was first invented.

Basically all of the insulin that humans use nowadays is produced synthetically, through processes that are patented, and are not the process that Banting and Best developed in 1923. They work a hell of a lot better, but that's why insulin is still expensive despite Banting and Best selling their patent.

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u/ImpossibleEffort4313 Jan 15 '22

He should’ve put his name on it so he could’ve controlled the price for it.

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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.

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u/GETitOFFmeNOW Jan 15 '22

With a straight face they say "it can cost a million dollars to get a drug researched and approved!"

And that's fine for us rubes who simply have zero concept of what a million dollars means, much less billions in profits.

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u/enleeten Jan 14 '22

Fuck that. I'm not a diabetic but it should just be covered.

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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.

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u/[deleted] Jan 14 '22

Lots of European countries work that way. I don't know why the US can't.

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u/A_giant_dog Jan 15 '22 edited Jan 15 '22

You don't? Gotcha - here's the quick and easy version. Folks have given drug companies a lot of money to develop, market, and sell drugs.

Those investors expect a return on their investment, and the folks who run these companies need to give that to them.

At no point does the well being or financial solvency of the people who need it to survive enter the calculus. Because that is allowed here.

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u/Finsceal Jan 14 '22

Paying for insulin is a uniquely American problem

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u/DancingKappa Jan 14 '22

I pay 0 for my insulin a family member pays 100 for each one...

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u/ron_leflore Jan 14 '22

Send them here: https://www.insulinaffordability.com/

It's $35/month for however much you need.

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u/TheAbyssGazesAlso Jan 14 '22

It's $5 for a 3 month supply in New Zealand.

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u/ryanmuller1089 Jan 14 '22

To cover production, packaging, and shipping. If that.

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u/feministmanlover Jan 14 '22

I'm a type 1 diabetic. WITH insurance my insulin is 175 bucks a month. My continuous glucose monitor and supplies is 400 every 3 months. Before my deductible is met, its THOUSANDS. It's disgusting.

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u/Goznaz Jan 15 '22

Come to the UK it's free!

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u/Jo_Ehm Jan 15 '22

The part that kills me is the original patent was sold for $1, to make it accessible to everyone.

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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.

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u/[deleted] Jan 14 '22

[removed] — view removed comment

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u/rackotlogue Jan 14 '22

Worst boxer in history

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u/Mental_Medium3988 Jan 14 '22

if punchablefaces was still a thing he would be top post ever. with second being the joker from suicide squad.

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u/Perkinz Jan 14 '22

Shkreli became the poster boy for it because he directly targeted the medical-industrial-complex by calling their bluff in a way that they couldn't just pass on to their customers.

He beat the healthcare consortiums at their own game so they got their buddies in the mainstream media to trick the masses into thinking he was specifically screwing over the little guy and not the big guy.

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u/FireBeyond Jan 14 '22

Bullshit. He has, on multiple occasions, lobbied the FDA to not approve drugs - not for any medical reason, or safety, or patents, or cost.

Merely because they competed with his more profitable drug.

And then he said that "consumers weren't paying his inflated prices, so had no cause to complain"... as if the amount they billed insurers was paid for by some magical fairy, not the consumers premiums (or their employer).

Don't be thinking he is any kind of hero, no matter how shitty the healthcare model is in this country.

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u/Burningshroom Jan 15 '22

I don't think that he was implying that he's a good person.

I think this guy was saying Shkreli went to prison because he gamed the industry in a way that would hurt the other companies' profits not just consumers.

Mess with rich people's money and they'll hold you accountable.

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u/Vlad_the_Homeowner Jan 15 '22

No, he was referring to Shkreli raising the price of drugs, one of them over 50x. Reddit has convinced itself that this is an example of 'sticking it to the man'.

But that has nothing to do with why he went to prison.

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u/mrdilldozer Jan 15 '22

It's so crazy that people will defend this guy just because he posted to Reddit once or twice. Redditors will overlook how awful of a person he was just because he patted them on the heads lol

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u/[deleted] Jan 14 '22

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u/mrdilldozer Jan 15 '22

Yes, but he did live streams and posted le dank memes. He can't be a bad guy /s

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u/Vlad_the_Homeowner Jan 14 '22

By buying out old compound and marking up the cost 10-fold despite not having any increases to the cost of manufacture. He didn't add any value to the product or customer, he just wants his slice of the pie over the transaction and dump it on the medical industry. He's nothing but a... hedge fund manager. Oh wait.

Same guy who shorted developing biotech companies and then blasted lies about them through his gossip websites. How is that not screwing over the little guy?

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u/XDDDSOFUNNEH Jan 14 '22

From what I've heard it was:

People without insurance got it for free.

People with insurance didn't actually have to pay more, it was their insurance that got fucked.

Shkreli fucked over the useless middle man that usually just sits back and reaps easy profit, hence he went to prison. And of course, now our government is saying he's a monster, huge piece of shit, the usual.

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u/TheOneWithThePorn12 Jan 14 '22

Of course. If you try to fuck over big business you get fucked

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u/noiamholmstar Jan 15 '22

Do you really think the insurance companies just eat that cost and say “Damn, I guess he got us”. Hell no, insurance premiums go up to everyone who has insurance. The big guys didn’t get fucked at all and all the millions of little guys all got fucked a little bit. But sure, go ahead and continue thinking he was some kind of hero.

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u/daemmonium Jan 15 '22

Shkreli became the poster boy for trying to do the same thing every big pharma company does every Tuesday for 25 different drugs.

But he forgot to pay the right politicians and didnt have more than a hedge fund to back it up.

What I'm trying to say is that if he was any big pharma company and was lobbying properly he would have gotten away with it

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u/trolarch Jan 14 '22

Controversial opinion. I actually don’t hate him. He did something every other manufacturer is doing and said as much. He only was punished while they weren’t because he didn’t keep his mouth shut. His morals are detestable but at least he stood by what he did instead of hiding like the rest of them.

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u/Vlad_the_Homeowner Jan 14 '22

He did something every other manufacturer is doing and said as much.

Not every other, but I take your point. Yes, plenty of people pulling this BS.

But this is the same guy who shorted developing biotech companies and used smear campaigns on social media to try to ruin them. Small companies of mostly scientist working on developing a promising new technology for the good of mankind. He had no vested interest in them, no interest in the technology. Just trying to get a cut by betting against them, then using lies and mistruth to try to guarantee his win.

I can hate him.

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u/Hayder2021 Jan 14 '22

They made him the poster boy villain and kept doing business as usual

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u/toth42 Jan 15 '22

Extreme case of resting hit-me-face

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u/Graega Jan 15 '22

I want to punch the link to that face. And I didn't even open the link.

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u/Vlad_the_Homeowner Jan 15 '22

I'm realizing I missed an opportunity for a Rick Roll.

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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.

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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.

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u/ktkoolaid Jan 14 '22

https://www.pharmaskeletons.com/2018/04/big-pharma-skeletons-in-closet-by.html?m=1

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

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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.

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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?

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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.

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u/meepmeep13 Jan 15 '22

They include some of the largest fines and settlements in legal history https://en.wikipedia.org/wiki/List_of_largest_pharmaceutical_settlements

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u/SupaSlide Jan 15 '22

Even the worst of those given to GlaxoSmithKline was only one quarter's worth of net income/cash flow, so my point still stands.

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u/AceValentine Jan 14 '22

Didn't he also give it away for free for those without insurance? Is this the insurance companies making an example?

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u/Siniroth Jan 14 '22

The problem with that bit is that I don't think anybody knew when it was relevant

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u/Five_Decades Jan 14 '22

if it were legal to import drugs from other developed nations with safety infrastructure it wouldn't matter.

If someone hikes the price of daraprim to $750 a pill in the US, just buy it for $0.25 a pill from Switzerland or Australia.

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u/habb Jan 14 '22

dude this is why the push for medicare for all from bernie sanders. like his entire platform

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u/tossitoutc Jan 14 '22

Oh man wait until you find out about Valeant. This dude bought and hiked one drug, but Valeant made an entire business of buying pharmaceutical companies, closing down their R&D, and hiking their drug prices. For some reason Shkreli was the media magnet but this was being done on a much bigger level at around the same time.

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u/[deleted] Jan 14 '22

Insulin should be free there hasn’t been new technology in years. If it makes you feel any better Sanofi tried to force doctors to write a more expensive patent replacement when lantus went generic and it pretty much tanked the entire company

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u/MavenACTG Jan 14 '22

iT wAs ThE mArKeT pRiCe. BlAmE tHe InViSiBlE hAnD.

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u/ElongatedTime Jan 14 '22

Best part is they could’ve hiked it to like “only” $100 and gotten even richer because then they wouldn’t have been “caught”. But greed took over and they couldn’t stop.

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u/GrayGhost18 Jan 14 '22

As much as people like to push that people who advocate for universal healthcare are nothing more than filthy communist takers, private industry has long since decided it would rather put profits over people. And with something as inelastic as medicine, and if you only care about profits you can make it as ludicrously expensive.

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u/PanJaszczurka Jan 14 '22

This is old drug and we have something better for malaria and toxoplasmosis than it. But like 10-20y ago they find that can help in cancer treatment. Also world wide it cost 0,04-0,50 USD per pill

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u/ProverbialShoehorn Jan 14 '22

That's unregulated capitalism BABY

Sorry that was meant to sound musical not insulting

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u/RedditorCSS Jan 14 '22

Pretty sure I remember when this gouging started long ago. If I recall correctly it was an HIV/AIDS medicine.

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u/Theundead565 Jan 14 '22

IIRC isn't it something stupid like the drug isn't what costs the money but they gouge the shit out of the injection system? Or is that the epi-pen I'm thinking of.

Either way it's not right.

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u/delimeat52 Jan 14 '22

One of my preventative maintenance inhalers (I take two) for my asthma, if purchased without insurance, would run just shy of $600 for a 30 day supply. When I first started taking it in 2019 it was about $420.

When I go to the pharmacy to pick up my asthma meds once per quarter I pick up three of each inhaler and some allergy meds too. Considering retail cost of the drugs, I carry more value in meds back to my truck than what I paid for it. Cheap truck at $3200, but still...

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u/LookAlderaanPlaces Jan 14 '22

“It’s all inflation I say it’s not that we are greedy monopolies it’s just inflation!”

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u/Gothsalts Jan 15 '22

They say it's to pay for the extremely expensive drug R&D process but they also get a lot of government money?

Hm

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u/AvengedFADE Jan 15 '22

The real reason is more sickening then people would like to believe.

Daraprim got a bad rap, because health insurance companies were the ones who had to hold the bag, and cover the cost. That’s why this whole trial went to court in the first place, insurance companies didn’t want to have to pay all that money.

Most health insurance companies don’t cover insulin, so it’s free game.

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u/youdubdub Jan 15 '22

But the only way researchers could possibly motivated to come up with innovative new drugs is if executives can pay them selves exorbitantly, right? We must trust the rich people, they would never be self-serving, undeserving bags of shit. Just ask them, or anyone unlucky enough to have to deal with them.

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u/Faxon Jan 15 '22

Yea shit's wild. I've seen prices as high as $900 (per pill) from some sellers who are adding on their own markup

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u/Discalced-diapason Jan 15 '22

Epipens entered the chat

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u/ApologiaNervosa Jan 15 '22

People? No. Capitalism? Yes.

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u/Panwall Jan 15 '22

I don't know what's worse? In court, he claims he hiked the prices just like insulin, or the fact that none of the 3 CEOs (Eli Lilly's David Ricks, Novo Nordisk's Lars Jørgensen, and Sanofi's Paul Hudson) have also been arrested for the same shit Shkreli pulled. They claim its a "logistics and supply chain problem." In the country that makes the most money in health care, we have a logistics problem? Bull shit.

Those 3 are about to have the world rocked when Mylan's Semglee (a biosimilar/generic) hits market later this year at a fraction of the price because 3 companies cornered some of America's most exploited patients.

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u/Qubeye Jan 15 '22

Look up how much malaria drugs cost in places where you can actually get malaria vs places like Finland.

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