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

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

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

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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/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.