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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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.

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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.

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u/Buy-N-Sell 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.

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u/PM_PICS_OF_ME_NAKED Jan 14 '22

They gave out daraprim to people who couldn't afford it.