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/[deleted] Jan 15 '22 edited Mar 07 '22

[deleted]

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u/bubumamajuju Jan 15 '22

Lol… you’re essentially asking for patient data which is illegal to give out.

Every company offers income-based affordability plans. Look at more popular drugs and you’ll find someone off insurance sharing their experience of how they get a necessary drug for a subsidized price or free.

I don’t know any pharma companies that plainly state the amount of drugs they give out free… presumably because there’s zero benefit to it. You could be pessimistic and say that’s because none of the companies want patients to know about the affordability of their drugs but honestly people like you will almost certainly be skeptical regardless.

The reality is the pricing was done in a calculated way for an obscure and rare disease with a very small patient count and most patients have insurance. I think there’s a lot of general ignorance about how this works because it’s so different than other day to day goods/services… it’s almost like Reddit implicitly has this understanding that going to a hospital with a rare disease will have your doctor and nurses asking you: “would you like to purchase an additional ibuprofen this morning for 12.99 a pill? We will start the primary treatment when we get a check made out to the hospital for 10k “