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
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4.2k

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

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u/[deleted] Jan 14 '22

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

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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/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/TheLizardKing89 Jan 14 '22

If there’s not a profit motive, there will be less incentive to invest in new pharmaceuticals. If someone develops a drug that improves the lives of millions of people, they should be able to profit from that. I’m not saying they should be allowed to charge whatever they want, but the idea that any profit is bad is just ridiculous.

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u/khinzaw Jan 14 '22

Profit motive goes the other way too, companies have chosen not to develop drugs to treat rare diseases because they won't be profitable.

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u/TheLizardKing89 Jan 14 '22

There isn’t any system in the world in which rare diseases get a ton of research dollars thrown at them.

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u/horseydeucey Jan 15 '22

There isn't a system in the world in which rare diseases get a ton of research dollars thrown at them.

There's not?

Damn, someone totally should start one up... call it something like the, "Rare Diseases Clinical Research Network".

Oh wait, my bad. There is a system in the world in which... yadda yadda. Oh! And it's a part of the National Institutes of Health?! The largest single public funder of biomedical research in the world?!

But that can't be, you said such a thing doesn't exist.

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u/TheLizardKing89 Jan 15 '22

The RDCRN has an annual budget of less than $40 million. For comparison, Americans will spend about half a billion dollars ($500 million) on Halloween costumes for their pets this year.

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u/horseydeucey Jan 15 '22

Thank you. I just knew you were gonna go.... "I said 'A TON!'"

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u/SeeArizonaBay Jan 15 '22

But but but my capital

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u/horseydeucey Jan 15 '22

I love it.
And the irony is, if anyone checks that second link, you'll see NIH justifying its mission by pointing out all the economic benefit it brings... because as so many others love saying (including the person I replied to), "you can't do anything without a profit motive!"
But then why would NIH need to crow about the economic benefit? Is that why they exist? To line capitalists' pockets?

OHHHH, so the CAPITALISTS have a vested interest in convincing the rest of us that nothing can get done unless they're assured of a profit... got it!
Because NIH just 'magics' money out of thin air. Makes so much sense to me now!

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u/khinzaw Jan 14 '22

There are systems where the government subsidizes the development and production. The US does that to some degree.

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u/TheLizardKing89 Jan 14 '22

Yes, but which diseases do they subsidize more, rare diseases or diseases that a ton of people suffer from?

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u/dicknipplesextreme Jan 14 '22

Option 3: Corn

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u/ZarMulix Jan 14 '22

There isn't any country in the world without people dying of hunger. That's not a metric by which to aspire (does it already exist). It's literally anti-innovation.