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


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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


u/[deleted] Jan 14 '22

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


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?

Uh, duh!

- Fortune 500 CEO


u/Lucky-Variety-7225 Jan 15 '22

Don't steal my idea for NFT water!


u/horseydeucey Jan 15 '22

Nestle, would you patent... water?!


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/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.


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


u/Raveynfyre Jan 15 '22

A different world and morals today sadly.

I really wish some things had never changed.


u/Discreet_Deviancy Jan 14 '22

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


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.


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

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


u/A_giant_dog Jan 15 '22

The people who make the money are investors. C level folks at those companies get kinda rich, the investors get filthy rich


u/sousuke Jan 15 '22

Dr. Silverman would beg to differ.


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.


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.


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.


u/ImpossibleEffort4313 Jan 15 '22

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


u/Nomandate Jan 14 '22

That was for the process of extracting insulin. Modern insulin is synthesized.