ProcrastinatorPython
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FP Edit: Lots in the comments asking who he is, so I figured I'd tell you. This is Martin Shkreli, a former executive at Turing Pharmaceuticals. In 2015, he increased the price of a drug, Daraprim, that treats a rare parasitic infection that occurs in babies and/or AIDS/HIV patients. The price went from $13.50 a pill to $750, a 5500% increase. He was able to do this because the drug was not patent protected, and had no generic competitors, so really he gave the people who desperately needed it no other choice but to buy or die. Granted, the infection is very rare, but it does save lives.
Some have claimed in the comments that the funds were supposedly going towards research to develop new and better drugs. I, personally, have seen no news on this anywhere, only his word. Which, by the way, isn't extremely reliable, as he is currently serving a 7 year sentence for securities fraud, which he was sentenced to earlier this year. Essentially he lied to investors about his other company, Retrophin, that were taking heavy losses, and using assets of that company to pay the investors back.
If you are adamant on defending this gaping, puss-filled asshole, I'd absolutely love some sources for your claims.
Also, send nudes.
Bystandr
If it wasnt patent protected, then it should have been possible for a generic manufacturer to make an alternate supply.
impressedbutconfusef
Yuck this is the worst one yet...
franciscoairodu9000
You can get away making things harder and expensive for the poor, but screw over the rich and it's jail time.
candiduscorvus
Yeah this guy can go straight to hell.
BengalCat
On the advice of counsel-I invoke my 5th Amendment privilege against self-incrimination and respectfully decline to comment a differing view
Crobag
#freeshrekli
Pinecube
Well played!
LocoRojoVikingo
This butthole thing is going too far. I'm reporting this. I shouldn't have to look at this asshole.
PiGiSpi
If anyone wants to defend it with the bullshit line of "it was going to help create better drugs", please,let me see the shack execs live in
pompidasical
Buttholes*
Dissipo
Steal $500 from 7-11 go to jail for 5 years, steal millions go to jail for 7 and probably get out early!
maninthedarkness
Yes, let's keep it SFW
Demonicwolf9
Asshole is sfw
Hekatombe
Erason
Why do you have to ruin something beautiful with irrelevant opinions about irrelevant people. He’s just a player in a game. Change the game.
TheClassicOldMate
Not sure if mad at him or the whole system that allows this and greedy other companies that do the exact same thing but never brought up.
justicecracker
Then post one?
cajunbrewer
AcrobaticWhales
https://youtu.be/2PCb9mnrU1g Honestly still a douche bag but shows he isn't the only one.
letsripone
And he has since cried while apologizing a true asshole
RipOffTheBandAid
One prolapse I'd like to see
vapology
felofilipino
Heard he hiked it for research funds, but then again I heard that on the internet.
ConvenientTruth
He claimed it was going towards research, but the drug didn’t need any improvements, and all his company really does is hold drug patents
BengalCat
Hiked and subsidized/gave free to lower income. IMO pry just about as “good-guy pharma” as u can get n that shithole industry..
medsal15
That's a weird photo of Ajit Pai
proletariatblues
Oh I forgot about him
proletariatblues
Is he in jail or what’s up
ProcrastinatorPython
Yup
CaptainBlacklung
My thing is that other companies have been doing what he does for years and no one said a god damned word.
jgempire
Sheepdroid
Typical imgur, nailing a guy to the cross with very limited information and mob mentality, morons, all of you.
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ProcrastinatorPython
ily2
EdwardStarsmith
If everyone here is a moron, what does that make you?
Sheepdroid
Clearly it's directed towards those judging based on some article they've read, all of them are morons, is that easier to understand? Moron?
todayok
I'm pretty comfortable shitting on someone serving 7 years for fraud crime but go ahead, defend him.
Sheepdroid
I'm not defending anyone, information provided by OP is just not accurate.
todayok
Says: "The information is inaccurate!". Also: Does not correct any so-called inaccuracy.
ProcrastinatorPython
Nor is he giving us any reason we shouldn't be nailing him to a cross
ProcrastinatorPython
Typical imgur commentator, called people morons for having "limited information" and not giving any.
Sheepdroid
You don't have ''limited information'' you just choose to go with what you have in your OP, so yes, you are a moron.
Sheepdroid
Best comment is where you ask for non biased sources, yet you base your judgement on barely anything, top man.
ProcrastinatorPython
I have yet to see anyone claiming the price hike was a positive thing post any unbiased sources supporting their claims.
ProcrastinatorPython
And I couldn't find any myself, which leads me to believe I don't have "limited information"; I have the best I can find.
Sheepdroid
Tell me, who did he charge? You realise not a single patient in need of this drug was to pay this amount right? Where's your sources.
viciousbastard
corvoedevon42
Who's this
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TheodoreJDetweiler
That’s not Ben, this dude is Martin Shkreli. He’s the guy that hiked the price for a certain drug or something like that
thelostg
Pharma bro.
BengalCat
Prominent Wu Tang Clan enthusiast/collector
InternalErection
An asshole...see the title?
highstream
Snickt
SHAME
Boondangle40
A guy who needs a Ole fashion prison shower ramming
thelionpear
Upvoting for the reference. One of the best moments in Justice League.
galexyalexy
Made AIDS drug expensive af, cause he is AIDS.
AnonOmis1000
I thought he did that with EpiPens
7hatsBollocks
https://www.businessinsider.com/after-years-of-price-gouging-mylans-epipen-gets-crushed-2017-3 It wasn't him, but he's just the same.
Gomizzi
Pharmabro
Bewarethepolarbear
Really
ProcrastinatorPython
Martin Shkreli. Guy bought the rights to Daraprim, that treats a rare parasitic infection in babies or HIV/AIDS patient, and increased the
highstream
Ah, that jerk
ProcrastinatorPython
price by %5000
DontTazeMeBrah
So what Big Phara already does.. got it
DinoSuarez
He did what many have done before, to save a failing company, but this is the one that the general public actually started noticing
TheElderBowls
He's a scape goat. A sacrifice to conceal the bigger wolves.
josepGameGod
Do some research on this guy... He's not so bad. There is a great vice doc on him on YouTube. Classic case of limited info and mob mentality
Tok36
The last time i suggested something like this i got down voted to hell.
Tok36
And here we go again!
astrangehop
He's terrible, but he had a good point [paraphrasing] "there's nothing legally stopping me from doing this. People do it every day.
astrangehop
I just did it enough to gain media attention and that's why were having this hearing."
ConvenientTruth
That doc only makes him look good if you actually take what he says at face value. Which you really shouldn’t
heartburnisbadmkay
Valeant Pharmaceuticals. https://en.wikipedia.org/wiki/Dirty_Money_(2018_TV_series)
heartburnisbadmkay
It was the company's way of working. he was so low down the food chain what he did was standard practice for valeant.
todayok
"Not so bad". 7 years in prison (that's real time, not a light sentence) but you say, "not so bad".
Necropoledancer
He got that for shareholder fraud. Stealing from the rich is wrong but honestly, I'd only consider that a low-medium level bad act.
todayok
You know that some of those shares are held my mutual funds which in turn are held by ordinary people. 7 years ain't low-medium ya twat.
BengalCat
Don’t invest what you can’t afford to lose. But yeah.. stealing is bad mkay..
todayok
You're just doubling down on the stupid without adding anything of value to the thread. Mkay.
BluePaladin42
I have yet to see, or be shown, a shred of actually independent evidence that exonerates him. If you have any, by all means link, but-
rudestdude
.
BluePaladin42
-every other time I have asked, I was sent to either his company's website or someone making un-sourced claims. His own word it worthless-
BluePaladin42
-as he is convicted of fraud, which makes me disinclined to trust him.
notme222
Oh shit. That's the asshole who made a pill that wasn't patent-protected and gave it away to 60% of the people who needed it. Fuck him.
Sheepdroid
Don't bother, these people ask for credible sources on your claims yet barely provide any themselves.
AgolfHiller
Not forgetting he also made a patent protected pill 100% more expensive
BullHonkis
Underrated comment. People saw his stuff in front of congress (sorry if incorrect and think he is a jerk but if you look into at all you 1/2
BullHonkis
Will see that he actually isn’t a bad guy. Wouldn’t go so far as to say a good guy, but definitely not a butthole
todayok
Buuuuut he's in jail for a white collar crime. Do you know how baaaaad you have to be to actually go to jail for white collar crimes in US.
BengalCat
I thought his congressional testimony was hilarious tbh. Looked like no one up there had any idea what to think/do in that situation lol
Vaanhalen
Look into his discussion about monkeys
ProcrastinatorPython
He didn't make it. He bought the rights to the company that produced it and hiked the price up 5000x because there were no other competitors
Vaanhalen
Manufactured. Produced. And nobody died. It was out of stock. Discontinued. He revived it. Fake news outrage. Poor some effort into looking
Vaanhalen
Into it beyond "my politics is right. Com"
ProcrastinatorPython
So google.com isn't reliable I guess.
DanSapSan
Wellll, technically it is not. Especially because companies can buy higher places on a search.
BengalCat
1| “We sell our drugs for a dollar to the government, but we sell our drugs for $750 a pill to Walmart, to Exxon Mobil, to all these big...
BengalCat
2| companies, they pay full price because fuck them, why shouldn’t they? If I take their money to do research for dying kids, I think I’m
BengalCat
3| “.a hero, let alone evil.” “love to make an even bigger fortune than I’ve got now but Im not gonna do it at the expense of a human life.
ProcrastinatorPython
He is also currently sentenced to 7 years in prison for wire fraud. So yeah, fuck him.
BlauesSofa
Yeah fuck him for charging insurance companies more but people who can't afford it get it for free. Fuck him for using the additional money
BlauesSofa
to replace this deadly half decade old drug. You are Media controlled ♂️
ProcrastinatorPython
Deadly in what way? If it's deadly why would people be buying it? Why have I not seen any positive things said about this hike until now?
BengalCat
Alright OP.. 1) He raised the price because only a handful of people were taking it. Development costs were barely profitable apparently.
BengalCat
2) His primary job as CEO, along with overseeing the killing of animals, is to make money for the shareholders and the company
ProcrastinatorPython
He is currently in jail for defrauding investors of his other company, Retrophin, so sorry if I don't actually trust him to make them money.
ProcrastinatorPython
https://www.npr.org/sections/thetwo-way/2018/03/09/592368883/martin-shkreli-sentenced-to-seven-years-for-securities-fraud
BengalCat
Wasn’t trying to imply that he was a shining example of morality. I’m aware he is jail. Fraud was to make money, same with price hike
BengalCat
Just my belief that he wouldn’t put someones life/health in jeopardy for it. I don’t think it’s as black and white as everyone thinks is all
BengalCat
3) By becoming more profitable they would have had more money to put into R&D to create better, safer and cheaper drugs in the future.
BengalCat
4) Insurance were the only ones paying for the increase. If the gov didn’t provide it to low income Turing offered to give it away for free
ProcrastinatorPython
Literally just his word. I have seen no evidence of these claims, so refuting it is pointless.
BengalCat
They offered mail in vouchers or somethin of the sort if no insurance or gov assist covering it. They never needed tho, which was his point.
ProcrastinatorPython
It's a rare disease, so saying that a handful of people needed it is redundant. And the profits are decreasing even for his former company
BengalCat
Well they are both interchangeable as far as dev costs. Barely enough people took it to even warrant spending the production time/labor
ProcrastinatorPython
"The company’s revenue, largely driven by Daraprim sales, fell nearly 15 percent between 2016 and 2017, from $78.5 million to $67 million."
ProcrastinatorPython
https://arstechnica.com/tech-policy/2018/07/shkrelis-former-company-is-now-losing-money-even-with-the-5000-price-hike/
BengalCat
Happens all the time in pharma I’m sure.. https://www.businessinsider.com/a-compound-pharma-company-is-making-a-daraprim-killer-2015-10
BengalCat
But instead of just losing their investment entirely they had a few years profit bc of the increase. Also bad PR/loss of CEO doesn’t help
ProcrastinatorPython
This just proves how unnecessary it is to make the price of a single pill be $750, even if it was just to fuck over insurance companies.
ProcrastinatorPython
I legitimately implore anyone who wants to defend this scumbag to give me any unbiased sources supporting the claims that:
ProcrastinatorPython
2. The funds go towards developing a "safer alternative"
BlauesSofa
https://www.vyera.com/news/ roughly 1 month ago they started a phase 1 study on the safer alternative. I think you own everybody an apology.
Garrethban
Accusations should be brought with evidence, not defense.
ProcrastinatorPython
Where are my accusations? Everything I have said is fact, and I've cited many sources in other conversations.
ProcrastinatorPython
Every claim should have some kind of proof to back it up, regardless of side. I have yet to see any proof for the other side of things.
ProcrastinatorPython
1. Patients don't pay anything more than $13.50 out of pocket
BlauesSofa
https://www.forbes.com/sites/emilymullin/2015/12/21/turing-pharma-says-daraprim-availability-will-be-unaffected-by-shkreli-arrest/
BlauesSofa
The company released a statement AND the article lists ways how the drug is available for free as well.
Incognito02us
Insurance paying more ultimately results in the public paying more! 2 ways - Medicaid (from taxes) and personal premiums
HeyLookImOnTV
Not sure about the US, but in Brazil: Daraprim 25mg, 30 pills, retail price: R$2,25 ($0.019 / pill). Source? Any drugstore. Example:
HeyLookImOnTV
https://www.bifarma.com.br/produto/daraprim-25mg-com-30-comp">imidos">https://www.bifarma.com.br/produto/daraprim-25mg-com-30-comprimidos + https://www.farma22.com.br/daraprim-30-comprimidos/p?idsku=480566767
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ghostwriter2030
American government passes laws to protect the less fortunate and corporations seek to subvert or avoid those laws.
ghostwriter2030
It's a much more complicated conversation than "it's a free country, he can do what he want"
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BobReynolds88
Yes
ExaDeuce
Yes that is the fucking problem
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SterioType88
Still a dick move even if it is legal.
ProcrastinatorPython
Why were the only producers of it only charging $13.50 then? If that's the business, surely they too would have taken advantage of that
ProcrastinatorPython
Oh wait, no, they're not cunts.
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ProcrastinatorPython
3. That he did this out of the kindness of his own heart and not because he wanted to make a quick buck
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CaptainBlacklung
Did you get this upset when other companies did the same thing or did you just hop on the bandwagon to target this one, small fry?
ProcrastinatorPython
Again, just because other companies have done it doesnt mean he gets a pass.
CaptainBlacklung
Understood, but it pisses a lot of us off when you guys decide to jump on the bandwagon but only target like 5% of the actual problem.
CaptainBlacklung
He is only a small fucking fraction of the issue.