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newthinking

(3,982 posts)
Mon Sep 21, 2015, 01:05 AM Sep 2015

Drug Goes From $13.50 a Tablet to $750, Overnight

Source: New York Times

Specialists in infectious disease are protesting a gigantic overnight increase in the price of a 62-year-old drug that is the standard of care for treating a life-threatening parasitic infection.

The drug, called Daraprim, was acquired in August by Turing Pharmaceuticals, a start-up run by a former hedge fund manager. Turing immediately raised the price to $750 a tablet from $13.50, bringing the annual cost of treatment for some patients to hundreds of thousands of dollars.

“What is it that they are doing differently that has led to this dramatic increase?” said Dr. Judith Aberg, the chief of the division of infectious diseases at the Icahn School of Medicine at Mount Sinai. She said the price increase could force hospitals to use “alternative therapies that may not have the same efficacy.”

Turing’s price increase is not an isolated example. While most of the attention on pharmaceutical prices has been on new drugs for diseases like cancer, hepatitis C and high cholesterol, there is also growing concern about huge price increases on older drugs, some of them generic, that have long been mainstays of treatment.

Although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced “specialty drugs.”

Read more: http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html



This Drug has been in use since 1953.


Pharma firm hikes life-saving drug price by 5,500%

The medical community is outraged by a 5,500 percent price hike for Daraprim, after a big NY-based pharmaceutical company purchased the patent for it. The drug has been on the market for over 60 years, and can be essential to certain AIDS and cancer treatments.

The New York-based Turing Pharmaceuticals raised the price of Daraprim from $13.50 to $750 per pill in just over a month after buying the rights for the drug from Impax Laboratories.

The drug is used to treat toxoplasmosis, the second most common food-borne disease that affects patients suffering from AIDS and cancer. It has been produced since 1953 and is on the WHO List of Essential Medicines. But now medical associations are beating their drums about the sudden price hike and potential affordability of Daraprim as a treatment.

http://www.rt.com/usa/316046-pharma-daraprim-price-hike/
94 replies = new reply since forum marked as read
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Drug Goes From $13.50 a Tablet to $750, Overnight (Original Post) newthinking Sep 2015 OP
Proof of what Bernie says Plucketeer Sep 2015 #1
Its time for Congress to get off their ass and do something about it. Since 2011 still_one Sep 2015 #12
isnt their job raising money for campaigns? reddread Sep 2015 #33
Oh I forgot the prime directive. Of course. Perhaps we could find others who won't have as much still_one Sep 2015 #36
quite possibly we may be able to outsource those jobs to India reddread Sep 2015 #73
unbelievable! K&R secondwind Sep 2015 #2
Saw Hillary today; she said prescription prices need to be addressed by government Midnight Writer Sep 2015 #3
No,no! Didn't you get the memo? It's her fault the prices are this high. McCamy Taylor Sep 2015 #4
Oops! Sorry. I am not tech savvy, haven't learned memo thingie yet Midnight Writer Sep 2015 #6
she will propose restorefreedom Sep 2015 #55
Suprax, Doxycycline and Colchicine are other generics that have been over McCamy Taylor Sep 2015 #5
and Congress has been investigating this for years, and still hasn't gotten off their ass to do still_one Sep 2015 #14
Our Federal gov. made it illegal to buy prescription drugs from any pharmacy outside the U.S. Sunlei Sep 2015 #47
Americans can still do it though still_one Sep 2015 #48
Got a link to a Canadian Pharmancy that will take my Doctors script? or even my dogs Vets RX? Sunlei Sep 2015 #49
no, but there are legitimate ones. You need to make sure they have the right accreditations, but still_one Sep 2015 #92
It is not legal in America to import any 'common RX drug' because it is less expensive Sunlei Sep 2015 #93
Try to raise prices on generators after a hurricane and see how fast you are charged. Dustlawyer Sep 2015 #86
Horrifying. I'm allergic to all antibiotics except doxycycline. Liberty Belle Sep 2015 #18
This because we do not have free enterprise. tecelote Sep 2015 #30
I bought Metformin in Spain. Cheaper and no Rx needed. Fuck Big Pharma. CurtEastPoint Sep 2015 #75
Your Second Example Is Quite Illegal ProfessorGAC Sep 2015 #38
And check out what's happened to the price of Albuterol, needed to literally save asthmatics' lives. TygrBright Sep 2015 #65
I was using two inhalers a month and have no prescription insurance passiveporcupine Sep 2015 #68
And don't get me started on Xaralto, the new nasty name brand alternative to Coumadin. McCamy Taylor Sep 2015 #7
Congress has to change the law to force the FDA to accept more generics with proper testing of still_one Sep 2015 #13
"reversed" is the word that I believe the poster was looking for. Ilsa Sep 2015 #19
That makes sense, especially in the context of monitoring. Thanks still_one Sep 2015 #23
The FDA could take action. No generic version of Daraprim exists, and they might be able to still_one Sep 2015 #8
The problem is not the "generic (drug) process" BumRushDaShow Sep 2015 #25
Sounds reasonable. Turbineguy Sep 2015 #9
pharmaceutical companies are a disgrace. they raise the prices because they can. IcyPeas Sep 2015 #10
This case is particularly telling passiveporcupine Sep 2015 #69
We know Romney would defend this..... Spitfire of ATJ Sep 2015 #11
Take the profit Dan Sep 2015 #15
Fukng disgusting! C Moon Sep 2015 #16
my prescription of colchicine wdkellysr Sep 2015 #17
The people who voted in GingrichCare area51 Sep 2015 #20
it's like Romney's tax breaks--the pols all thunder about good Murkans being reamed while the rich MisterP Sep 2015 #83
my generic blood pressure medication went from $5 a month to over $100 month hollysmom Sep 2015 #21
This is happening to generics, too. Cassidy Sep 2015 #22
k and r...nt Stuart G Sep 2015 #24
How much worse can it get in America? Lytex Sep 2015 #26
+1 CountAllVotes Sep 2015 #45
Welcome TPP orpupilofnature57 Sep 2015 #27
the CEO is a charmer Enrique Sep 2015 #28
Shkreli then retorted. flobee1 Sep 2015 #31
Hedge fund mgrs are slick grifters;hedge fund owners R slickest grifters of all Divernan Sep 2015 #50
We KNOW why you did it, asshole; nobody is that stupid William Seger Sep 2015 #53
Wikpedia page on Shkreli.. grahampuba Sep 2015 #58
When I read this, I could think of only one thing to say nichomachus Sep 2015 #67
Time to bring back the guillotine. FuzzyRabbit Sep 2015 #89
How long are patents on medicine valid? DetlefK Sep 2015 #29
Here is what the FDA has to say on that topic... xocet Sep 2015 #56
There are mechanisms by which they can extend the patent nichomachus Sep 2015 #66
the invisible hand of the free market at work bringing 'wonder' drugs to us all. magical thyme Sep 2015 #32
I managed to find it for $1.67 a pill customerserviceguy Sep 2015 #34
Canada does not allow this FreakinDJ Sep 2015 #39
Before I got insurance from my work Le Taz Hot Sep 2015 #40
I still have insurance at work customerserviceguy Sep 2015 #71
The distilled, concentrated essence... gregcrawford Sep 2015 #35
"Then Republicans happened." Le Taz Hot Sep 2015 #41
To answer your first line... gregcrawford Sep 2015 #42
Which means We the People are still WAY outnumbered Le Taz Hot Sep 2015 #44
No argument here. n/t gregcrawford Sep 2015 #46
I bought a generic last month, it was......... mrmpa Sep 2015 #37
even 13.50 a tablet was a fabulous profit. Price gouging with medicine should be illegal.Congress? Sunlei Sep 2015 #43
We all need to write our state and federal reps and senators. Report back on respones. greatlaurel Sep 2015 #51
Tell them what you think. I did. oldandhappy Sep 2015 #52
If I told what I think should happen to this guy, the authorities would pay me a Doctor_J Sep 2015 #81
My 20 y.o. chemo drugs cost $20K/round but NIH says the real price is $1600/round wordpix Sep 2015 #54
Toxoplasmosis can really knock you on your ass for a long time. Lychee2 Sep 2015 #57
If our health care system were run by organized crime, this is an example of how it would work. Maineman Sep 2015 #59
This is something for the "Consumer Financial Protection Bureau" to tackle. I hope they have Cal33 Sep 2015 #60
Best healthcare in the world! progressoid Sep 2015 #61
Funny how we deride big pharma here yer trust them implicitly Puzzledtraveller Sep 2015 #62
Message auto-removed Name removed Sep 2015 #63
China executes criminals like this guy. We reward them. Comrade Grumpy Sep 2015 #64
“It really doesn’t make sense to get any criticism for this," Martin Shkreli said writer not writing Sep 2015 #70
Horsewhip the CEO in the public square (NT) The Wizard Sep 2015 #72
His name is Martin Shkreli freethought Sep 2015 #74
marty, you disgusting excuse for a human, may you receive everything you deserve. niyad Sep 2015 #76
'Young Gentleman Buys Rights to AIDS Drug, Raises Price From $13.50 to $750 a Pill' Lychee2 Sep 2015 #77
An Easier to View Marty McGraw Sep 2015 #78
Your video doesn't have his psychopathic little smile in it. Lychee2 Sep 2015 #80
free market healthcare! If you don't like this, you hate America!! Doctor_J Sep 2015 #79
Free Market only works if it is actually free and there is competition JCMach1 Sep 2015 #82
This weasel is bilking a system that is subsidized by taxpayers brentspeak Sep 2015 #84
What's wrong with America right now? Unknown Beatle Sep 2015 #85
Yes, he is an evil psychopathic creep. Lychee2 Sep 2015 #88
There ought to be a law libodem Sep 2015 #87
I can't decide if hedge fund managers are cannibals or guinea worms. GliderGuider Sep 2015 #90
FUCK Pharma and their emoticon shills. LeftOfWest Sep 2015 #91
Don't get mad forest444 Sep 2015 #94
 

Plucketeer

(12,882 posts)
1. Proof of what Bernie says
Mon Sep 21, 2015, 01:14 AM
Sep 2015

It's time for a political revolution! Imagine - just imagine - all the GOP crooks doing a mass perp walk. Imagine telling pharma companies: you'll sell it at a fair price or you won't sell it at all. No more legalized robbery! It IS within our powers to make it happen!

still_one

(92,130 posts)
12. Its time for Congress to get off their ass and do something about it. Since 2011
Mon Sep 21, 2015, 02:13 AM
Sep 2015

Democrats have been investigating the price gouging:

http://democrats.oversight.house.gov/cummings-investigates-potential-prescription-drug-price-gouging

Also in 2014:

http://blogs.wsj.com/pharmalot/2014/10/02/lawmakers-probe-staggering-price-hikes-for-generic-drugs/

If Congress can't do their frickin job, then people need to vote in people who will. In the meantime folks are going to have to start investigating Canada and other sources for these medicines, because obviously the government is failing the public.

 

reddread

(6,896 posts)
33. isnt their job raising money for campaigns?
Mon Sep 21, 2015, 07:01 AM
Sep 2015

how are they supposed to provide oversight and accept support simultaneously?

still_one

(92,130 posts)
36. Oh I forgot the prime directive. Of course. Perhaps we could find others who won't have as much
Mon Sep 21, 2015, 08:25 AM
Sep 2015

Last edited Mon Sep 21, 2015, 07:29 PM - Edit history (1)

time doing that

 

reddread

(6,896 posts)
73. quite possibly we may be able to outsource those jobs to India
Mon Sep 21, 2015, 06:49 PM
Sep 2015

call centers in place, waiting to help represent your interests as a taxpaying citizen of the USA

Midnight Writer

(21,745 posts)
3. Saw Hillary today; she said prescription prices need to be addressed by government
Mon Sep 21, 2015, 01:33 AM
Sep 2015

She proposed a fix through the ACA (Obamacare). Let's see if she elaborates.

McCamy Taylor

(19,240 posts)
5. Suprax, Doxycycline and Colchicine are other generics that have been over
Mon Sep 21, 2015, 01:42 AM
Sep 2015

priced due to trickery. A generic manufacturer controls the precursor ingredient for doxy and the price went up 10 times. A company used lawyers to keep any other company from manufacturing generic Suprax keeping it expensive for an extra decade. A company did a trial of a generic (colchicine) in a new dose---and get an FDA patent on an old med.

And this is not new. It has been going on for years. The Bush FDA banned three old generics that were competing with Glaxo-Smith Kline's patented products. FDA official quits and where does he go to work?

still_one

(92,130 posts)
14. and Congress has been investigating this for years, and still hasn't gotten off their ass to do
Mon Sep 21, 2015, 02:27 AM
Sep 2015

something about it.

They really have to pass legislation to make this kind of price gouging a criminal offense with very heavy fines.

The only other alternative is for consumers to find a reliable pharmacy in Canada or overseas

Sunlei

(22,651 posts)
47. Our Federal gov. made it illegal to buy prescription drugs from any pharmacy outside the U.S.
Mon Sep 21, 2015, 10:06 AM
Sep 2015

Americans are price gouged by ALL the Corporations. This same reported medicine is less then $2.00 a tab in Canada. Even $13.50 was to high.

Sunlei

(22,651 posts)
49. Got a link to a Canadian Pharmancy that will take my Doctors script? or even my dogs Vets RX?
Mon Sep 21, 2015, 10:48 AM
Sep 2015

We Americans got cut off by "Drug Corporation Congress".

still_one

(92,130 posts)
92. no, but there are legitimate ones. You need to make sure they have the right accreditations, but
Tue Sep 22, 2015, 11:37 AM
Sep 2015

that information should be easy enough to find through google

Here is a link to give you a general overview:

http://www.elderlawanswers.com/buying-prescription-drugs-from-canada-legal-or-illegal-1204

Here is an article from consumers report telling you what accreditations to look for, and precautions to take:

http://www.consumerreports.org/cro/news/2011/10/save-money-by-ordering-drugs-from-canada-not-so-fast/index.htm

Sunlei

(22,651 posts)
93. It is not legal in America to import any 'common RX drug' because it is less expensive
Tue Sep 22, 2015, 11:56 AM
Sep 2015

From FDA ref page http://www.fda.gov/AboutFDA/Transparency/Basics/ucm194904.htm

Is it legal for me to personally import drugs?
En Español1

In most circumstances, it is illegal for individuals to import drugs into the United States for personal use. This is because drugs from other countries that are available for purchase by individuals often have not been approved by FDA for use and sale in the United States. For example, if a drug is approved by Health Canada (FDA’s counterpart in Canada) but has not been approved by FDA, it is an unapproved drug in the United States and, therefore, illegal to import. FDA cannot ensure the safety and effectiveness of drugs that it has not approved.

FDA, however, has a policy explaining that it typically does not object to personal imports of drugs that FDA has not approved under certain circumstances, including the following situation:

The drug is for use for a serious condition for which effective treatment is not available in the United States;
There is no commercialization or promotion of the drug to U.S. residents;
The drug is considered not to represent an unreasonable risk;
The individual importing the drug verifies in writing that it is for his or her own use, and provides contact information for the doctor providing treatment or shows the product is for the continuation of treatment begun in a foreign country; and
Generally, not more than a 3-month supply of the drug is imported.

Dustlawyer

(10,495 posts)
86. Try to raise prices on generators after a hurricane and see how fast you are charged.
Mon Sep 21, 2015, 11:24 PM
Sep 2015

Do it for medicines that people need to live and its ok!

Liberty Belle

(9,534 posts)
18. Horrifying. I'm allergic to all antibiotics except doxycycline.
Mon Sep 21, 2015, 03:18 AM
Sep 2015

Shameful for the govt. to allow this to happen.

tecelote

(5,122 posts)
30. This because we do not have free enterprise.
Mon Sep 21, 2015, 06:35 AM
Sep 2015

Why can't we buy from Canada, Mexico or Europe?

Buying prescription drugs from any pharmacy outside the U.S. is against federal law.

ProfessorGAC

(64,995 posts)
38. Your Second Example Is Quite Illegal
Mon Sep 21, 2015, 08:32 AM
Sep 2015

Why someone did not go to jail over willfully and illegally extending the life of a patent is disappointing.

I was involved as a witness in a restraint of trade case in federal court where the defendant got sued because they refused to collude with another company to fix a price which effectively extended the term of a patent since expired.

That side won the case simply because the plaintiff had no standing due to the shenanigans They tried to pull. Since they didn't succeed no charges were brought, but the judge read them the riot act.

TygrBright

(20,756 posts)
65. And check out what's happened to the price of Albuterol, needed to literally save asthmatics' lives.
Mon Sep 21, 2015, 03:25 PM
Sep 2015

There is no life-form lower than a Big Pharma executive deciding that profits outweigh lives.

None.

disgustedly,
Bright

passiveporcupine

(8,175 posts)
68. I was using two inhalers a month and have no prescription insurance
Mon Sep 21, 2015, 04:42 PM
Sep 2015

So this hit me particularly hard. I am now on prednisone every day to keep my albuterol use down. It IS saving me money, but being on prednisone every day for the rest of my life scares the hell out of me. I did get steriod psychosis from it once in the hospital (much higher doses). I also tore a leg muscle once while on prednisone at higher doses than I use now. It is just not good for the human body. I am extremely low dose now, just for maintenance. But it still scares me.

And the new HFA inhalers (now over $50 ea) just plain do not work like the old ones that used to be $15 ea., so I have to use a lot more than you are supposed to use.

I will never get over being pissed about this.

McCamy Taylor

(19,240 posts)
7. And don't get me started on Xaralto, the new nasty name brand alternative to Coumadin.
Mon Sep 21, 2015, 01:44 AM
Sep 2015

I predict that the day Xaralto goes on generic the FDA will ban it. Who wants a blood thinner which can not be revered in cases of emergency and which you can not monitor to make sure that patients are actually taking it? Scary.

still_one

(92,130 posts)
13. Congress has to change the law to force the FDA to accept more generics with proper testing of
Mon Sep 21, 2015, 02:23 AM
Sep 2015

course.

Not sure if I understand your post or the context of the word "revered". I think you meant "reserved"?

They also have to provide easier access for consumers to European and Canadian drug prices.

Ilsa

(61,694 posts)
19. "reversed" is the word that I believe the poster was looking for.
Mon Sep 21, 2015, 03:24 AM
Sep 2015

Reversed with vitamin K or something else in an emergency.

still_one

(92,130 posts)
8. The FDA could take action. No generic version of Daraprim exists, and they might be able to
Mon Sep 21, 2015, 01:51 AM
Sep 2015

streamline the generic process.

I wonder if the President can issue an executive order against this price gouging

What needs to be done is legislation to prevent this type of price gouging

BumRushDaShow

(128,831 posts)
25. The problem is not the "generic (drug) process"
Mon Sep 21, 2015, 05:33 AM
Sep 2015

it's the same issue that has befallen vaccines and some orphan drugs - big pharma don't make enough money (in their business models) off these types of products to justify continued production, so they stop making them. And that leads to shortages and/or exorbitant prices. The President can't issue any EO on this type of thing.

What may have to happen (which is going on now for certain products like vaccines) is government subsidies to companies that make designated products and/or the government buys the products for reserve. Of course there are issues with that as well.

IcyPeas

(21,857 posts)
10. pharmaceutical companies are a disgrace. they raise the prices because they can.
Mon Sep 21, 2015, 02:07 AM
Sep 2015
http://www.npr.org/sections/health-shots/2015/05/25/408021704/multiple-sclerosis-patients-stressed-out-by-soaring-drug-costs

A recent study from Oregon State University and the Oregon Health and Science University finds that the cost for MS drugs averages $60,000 a year, compared to $8,000 to $11,000 a year in the 1990s. The price for some climbed by an average of 30 percent per year for two decades, according to the report in the journal Neurology.

.....
Drug companies are acting much like a cartel such as OPEC, says Stephen Schondelmeyer, a pharmaceutical economist at the University of Minnesota. He says the companies must figure "if we all keep moving [our prices] up and nobody moves down, we can get away with raising the price, because if a person has multiple sclerosis, what other choice do they have?"

Last year, new drugs to treat hepatitis C at a cost of $80,000 or more also sparked an anxious discussion about high drug prices. At least those drugs cure the disease, and by so doing reduce future health-care costs. But that's not true for multiple sclerosis drugs.

passiveporcupine

(8,175 posts)
69. This case is particularly telling
Mon Sep 21, 2015, 04:51 PM
Sep 2015


This is the bright young (hedge fund manager) who quit banking to start up this new pharma company by buying the patent for this drug and raising it's price.

Doesn't he look smart and cool and savvy?

Fuck him. This is just another way for the 1%ers to stay at the top. It's a new trend now, to switch from banking (stricter rules don't let you rip people off quite as much as before) to pharma, where you can still rip people off because...well, their lives depend on it.

God this makes me sick!

Although some price increases have been caused by shortages, others have resulted from a business strategy of buying old neglected drugs and turning them into high-priced “specialty drugs.”


Martin Shkreli, the founder and chief executive of Turing, said that the drug is so rarely used that the impact on the health system would be minuscule and that Turing would use the money it earns to develop better treatments for toxoplasmosis, with fewer side effects.

“This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,” Mr. Shkreli said.


from link in OP
http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protests.html?_r=0

wdkellysr

(4 posts)
17. my prescription of colchicine
Mon Sep 21, 2015, 03:03 AM
Sep 2015

My prescription of colchicine (generic) went from 0 to $150 co pay 30 day supply, no generic available.

area51

(11,905 posts)
20. The people who voted in GingrichCare
Mon Sep 21, 2015, 03:27 AM
Sep 2015

knew this would happen. Until our govt. tells big pharma to stop gouging, it'll continue.

See sig below.

MisterP

(23,730 posts)
83. it's like Romney's tax breaks--the pols all thunder about good Murkans being reamed while the rich
Mon Sep 21, 2015, 10:44 PM
Sep 2015

walk off even richer--and then they go and fawn and do little dances and lick hands, because they know we'll let them let Wall Street

hollysmom

(5,946 posts)
21. my generic blood pressure medication went from $5 a month to over $100 month
Mon Sep 21, 2015, 04:05 AM
Sep 2015

I don't think there is any excuse for that.

Cassidy

(202 posts)
22. This is happening to generics, too.
Mon Sep 21, 2015, 04:08 AM
Sep 2015

The generic drug that I must take has quadrupled in price in the last 10 months.

This drug has been in use since the 1960s. I have to take it for epilepsy, so I, like the thousands of others who take it, expect to take it for the rest of my life. The insurance company claims it is shortages of raw materials and they have to pass along the price increase, but could not tell me which raw materials were in short supply. I know people with other diseases who have experienced similar exorbitant increases in their medications, whether or not they are generic.

A few months ago, when the price had only tripled, I wrote to Senator Bennet (D-CO) and got an irrelevant form letter in return. I wrote to Senator Gardner (R-CO) and got nothing in response.

What use is "health insurance" if you can't afford the co-pay for the medicine?

Lytex

(14 posts)
26. How much worse can it get in America?
Mon Sep 21, 2015, 05:49 AM
Sep 2015

I take an old drug for rheumatoid arthritis, plaquenil, which my pharmacist said is in danger of being tripled in price. Fortunately, he was able to find it for me, but every time I ask for a refill, I wonder if I will be able to get it. This is nothing but unrestrained greed, and our lawmakers, except for Bernie Sanders, are doing nothing about it. They're killing the golden goose, the productivity of the American economy, and with it the people who sustain it. It can't get much worse.

CountAllVotes

(20,868 posts)
45. +1
Mon Sep 21, 2015, 10:00 AM
Sep 2015

Sorry to read this and I hope that you will be able to continue to get the medication that you need!



Enrique

(27,461 posts)
28. the CEO is a charmer
Mon Sep 21, 2015, 06:19 AM
Sep 2015

he sounds a lot like Donald Trump

http://www.fiercebiotech.com/story/why-would-martin-shkreli-hike-old-drug-price-5000-only-moron-would-ask/2015-09-20

In an exchange on Twitter, Shkreli first noted that engaging with me would make my head "spin." (We have a history. Reporting a recent lawsuit Retrophin's investors filed against Shkreli--including accusations of looting the company, which Shkreli has denied--the CEO called me an idiot. Twitter is not for the thin-skinned.)

"It's a great business decision that also benefits all of our stakeholders," Shkreli then retorted. "I don't expect the likes of you to process that."

His next remark: "You are such a moron."


flobee1

(870 posts)
31. Shkreli then retorted.
Mon Sep 21, 2015, 06:43 AM
Sep 2015

Shkreli then retorted. "I don't expect the likes of you to process that.

Mr Shkreli, the day is coming soon where there will be people at your front door with torches and pitchforks. They are going to show you the same mercy you have shown to those you have chosen ro steal from. You are an evil, greedy leech and i wouldnt piss on you if you were on fire. Your day us coming, but i dont expect the likes of you to proccess that.

Divernan

(15,480 posts)
50. Hedge fund mgrs are slick grifters;hedge fund owners R slickest grifters of all
Mon Sep 21, 2015, 11:11 AM
Sep 2015

By their occupations shall ye know them.

William Seger

(10,778 posts)
53. We KNOW why you did it, asshole; nobody is that stupid
Mon Sep 21, 2015, 12:02 PM
Sep 2015

... and it illustrates why regulation is society's only defense against predators like you. And fuck the moron Libertarians who are too stupid to figure out what would happen to THEM without it.

grahampuba

(169 posts)
58. Wikpedia page on Shkreli..
Mon Sep 21, 2015, 12:45 PM
Sep 2015
https://en.wikipedia.org/wiki/Martin_Shkreli

"Martin Shkreli (born April 1, 1983) is a Albanian American[1] hedge fund manager, Nazi, P.O.S., and entrepreneur, specializing in healthcare and is the founder of MSMB Capital Management, Retrophin, Inc. and Turing Pharmaceuticals AG."

nichomachus

(12,754 posts)
67. When I read this, I could think of only one thing to say
Mon Sep 21, 2015, 04:14 PM
Sep 2015

Up against the wall, motherfucker. Want a blindfold?

xocet

(3,871 posts)
56. Here is what the FDA has to say on that topic...
Mon Sep 21, 2015, 12:25 PM
Sep 2015
Home>Drugs>Development & Approval Process (Drugs)


Frequently Asked Questions on Patents and Exclusivity

...

2. How long is a patent granted for?

Patents expire 20 years from the date of filing. Many other factors can affect the duration of a patent.

...

http://www.fda.gov/Drugs/DevelopmentApprovalProcess/ucm079031.htm#How%20many%20years%20is%20a%20patent%20granted%20for?

nichomachus

(12,754 posts)
66. There are mechanisms by which they can extend the patent
Mon Sep 21, 2015, 04:13 PM
Sep 2015

Someone was trying to explain it to me, but it's basically a flim-flam and I didn't really understand it.

 

magical thyme

(14,881 posts)
32. the invisible hand of the free market at work bringing 'wonder' drugs to us all.
Mon Sep 21, 2015, 06:47 AM
Sep 2015
for the sarcasm impaired.

customerserviceguy

(25,183 posts)
34. I managed to find it for $1.67 a pill
Mon Sep 21, 2015, 07:21 AM
Sep 2015

on CanadaDrugs.com

I use Canadian pharmacies for all my maintenance prescriptions, it saves me a bundle. Of course, in this case, you don't have three weeks to wait before you treat toxoplasmosis, but if I knew someone suffering from AIDS or cancer, it would be a simple thing to get a prescription, have it filled, then use it if necessary. Or perhaps some sort of patient cooperative could be formed to have access to a supply in case of emergency.

 

FreakinDJ

(17,644 posts)
39. Canada does not allow this
Mon Sep 21, 2015, 09:26 AM
Sep 2015

They simply tell big pharma sell the drugs at a fair price or we won't recognize your patent

Le Taz Hot

(22,271 posts)
40. Before I got insurance from my work
Mon Sep 21, 2015, 09:38 AM
Sep 2015

I used to go to Mexico for my medications -- 1/4 or less of the price paid here in the U.S. Unfortunately, Mexico has gotten so crazy I no longer feel safe going there.

customerserviceguy

(25,183 posts)
71. I still have insurance at work
Mon Sep 21, 2015, 06:10 PM
Sep 2015

And Canadian pharmacies beat anything that I can get with my plan, even well under the co-pays and certainly under the deductibles.

gregcrawford

(2,382 posts)
35. The distilled, concentrated essence...
Mon Sep 21, 2015, 08:14 AM
Sep 2015

... of pure, undiluted evil. THIS is predatory corporatism at its worst. This kind of price gouging USED to be illegal. Then Republicans happened.

The only thing evil needs in order to prevail is for "good" people to do nothing.

Le Taz Hot

(22,271 posts)
41. "Then Republicans happened."
Mon Sep 21, 2015, 09:39 AM
Sep 2015

And the Democrats did exactly what? People need to wake up, BOTH parties are hopelessly corrupt and busy doing the bidding of the .01%. And getting paid handsomely for it I might add.

gregcrawford

(2,382 posts)
42. To answer your first line...
Mon Sep 21, 2015, 09:45 AM
Sep 2015

... re-read my last line. And note the quotes.

You're right; the entire system has been corrupted. But while there are a few Dems whom I believe are relatively untainted, there are NO Republicans that aren't rotten down to their DNA.

Le Taz Hot

(22,271 posts)
44. Which means We the People are still WAY outnumbered
Mon Sep 21, 2015, 09:59 AM
Sep 2015

by our bought-and-sold Congress. Political partisanship only serves THEIR interests.

mrmpa

(4,033 posts)
37. I bought a generic last month, it was.........
Mon Sep 21, 2015, 08:28 AM
Sep 2015

$38, this month it was $44/ an almost 20% increase, Why?

Sunlei

(22,651 posts)
43. even 13.50 a tablet was a fabulous profit. Price gouging with medicine should be illegal.Congress?
Mon Sep 21, 2015, 09:48 AM
Sep 2015
Price gouging is a pejorative term referring to when a seller spikes the prices of goods, services or commodities to a level much higher than is considered reasonable or fair, and is considered exploitative, potentially to an unethical extent.

greatlaurel

(2,004 posts)
51. We all need to write our state and federal reps and senators. Report back on respones.
Mon Sep 21, 2015, 11:15 AM
Sep 2015

The very best way to get the reps and senators attention is a handwritten (typed letters get the next most attention) letter sent to their Washington offices. We need to report back when we hear back from them. If you cannot afford a stamp or do not have the time to send a snail mail letter, then send an email. It all helps.

This type of profiteering kills people. Refusing to allow hospitals to stock this medication means very sick people have to wait to get the medicine which means some people will die while waiting on the medication.

Here is the link to the mailing addresses of US Senators:
http://www.contactsenators.com/senator-mailing-addresses

Here is the link to the find your US representative, just need to put in your zip code:
http://www.house.gov/representatives/find/

We can make a lot of noise about this and get something changed. If the news media hears that Congress is getting a lot of real mail on this issue, it will get some more media coverage and could even become a real campaign issue.

If you get a non-answer to this issue from your elected reps, then write a letter to a newspaper about the lack of interest from your elected representatives.

You all have homework assignments. Report back soon on the action you took. Thanks!

oldandhappy

(6,719 posts)
52. Tell them what you think. I did.
Mon Sep 21, 2015, 11:37 AM
Sep 2015

craig@turingpharma.com

Join me. We can being change if we work together.

 

Doctor_J

(36,392 posts)
81. If I told what I think should happen to this guy, the authorities would pay me a
Mon Sep 21, 2015, 10:08 PM
Sep 2015

visit. I don't see any way out of this mess that doesn't involve a guillotine.

wordpix

(18,652 posts)
54. My 20 y.o. chemo drugs cost $20K/round but NIH says the real price is $1600/round
Mon Sep 21, 2015, 12:16 PM
Sep 2015

but the insurance cos. are willing to pay out the $20K. What a scam. Would love to know WTH is going on. I told my senator I think they're claiming the $20K/round and when the gov. negotiates less for O-care or Medicaid, the provider and drug cos. use the difference as a tax deduction due to their "loss."

 

Lychee2

(405 posts)
57. Toxoplasmosis can really knock you on your ass for a long time.
Mon Sep 21, 2015, 12:41 PM
Sep 2015

Be sure to wash your hands thoroughly after cleaning your cat's litter box. Cat feces are a source of infection.

Maineman

(854 posts)
59. If our health care system were run by organized crime, this is an example of how it would work.
Mon Sep 21, 2015, 01:20 PM
Sep 2015

So, is our health care system run by organized crime???

 

Cal33

(7,018 posts)
60. This is something for the "Consumer Financial Protection Bureau" to tackle. I hope they have
Mon Sep 21, 2015, 02:08 PM
Sep 2015

already started their investigations.

Response to newthinking (Original post)

freethought

(2,457 posts)
74. His name is Martin Shkreli
Mon Sep 21, 2015, 06:58 PM
Sep 2015

Has anyone seen this guy!? He'a f&%#$*@g BOY! Not only that he's an obnoxious little shit!

Yahoo has an article on this kid. Try the "Damned Kid" link below.

Damned Kid

 

Lychee2

(405 posts)
77. 'Young Gentleman Buys Rights to AIDS Drug, Raises Price From $13.50 to $750 a Pill'
Mon Sep 21, 2015, 09:48 PM
Sep 2015

This post was mistakenly locked as a dupe. But it is a different story. It is about CEO Martin Shkreli's "defense" of his price hike on TV. Video included. Be sure to watch it.

Source: Yahoo News

When former hedge fund manager Martin Shkreli took over the rights to Daraprim as founder of Turing Pharmaceuticals, he conveniently raised the price "overnight" to the all American tune of an "almost 5,500 percent increase" in price. Daraprim is used to treat toxoplasmosis, a parasitic infection that's capable of causing life-threatening complications in infants and for "people with compromised immune systems," such as those with AIDS and even "certain" cancer patients.

“This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,” Shkreli told the New York Times. “It really doesn’t make sense to get any criticism for this.” Shkreli... is clearly perturbed by the fact that people object to the price hike at all.

Shortly after the price hike spawned a lot of stories like this one, Shkreli took to television in an attempt to clarify the necessity of the 5,500 percent increase and voice his support of a profit-driven healthcare market. Here is the video:

http://www.bloomberg.com/news/videos/2015-09-21/why-turing-increased-price-of-daraprim-over-500-



http://news.yahoo.com/young-gentleman-buys-rights-aids-191020569.html
 

Doctor_J

(36,392 posts)
79. free market healthcare! If you don't like this, you hate America!!
Mon Sep 21, 2015, 10:04 PM
Sep 2015

This is way better than Europe!!!

JCMach1

(27,556 posts)
82. Free Market only works if it is actually free and there is competition
Mon Sep 21, 2015, 10:24 PM
Sep 2015

Virtually all corporations now seek monopoly, or near monopoly status...

brentspeak

(18,290 posts)
84. This weasel is bilking a system that is subsidized by taxpayers
Mon Sep 21, 2015, 10:57 PM
Sep 2015

And policy-holders will pick up the rest of the tab.

More proof we need single-payer health care.

Unknown Beatle

(2,672 posts)
85. What's wrong with America right now?
Mon Sep 21, 2015, 11:09 PM
Sep 2015

For starters, people like that smug asshole is one of the things that's wrong on every level.

That asshole is a psychopath, he'd be perfectly happy to see people die than to leave the price of the medicine at $13.50.

But for fucks sake! From $13.50 to $750 dollars per pill? Please karma, do your thing to this evil piece of shit.

 

Lychee2

(405 posts)
88. Yes, he is an evil psychopathic creep.
Mon Sep 21, 2015, 11:33 PM
Sep 2015

But he is just a symptom. The problem is a system that rewards these guys because it feeds on callousness and greed.

libodem

(19,288 posts)
87. There ought to be a law
Mon Sep 21, 2015, 11:30 PM
Sep 2015

This is like war profiteering only on misery. That catshit thing can infect your brain.

 

GliderGuider

(21,088 posts)
90. I can't decide if hedge fund managers are cannibals or guinea worms.
Tue Sep 22, 2015, 07:21 AM
Sep 2015

Either way they feast on human flesh. Their value systems are rooted in this socio-ecological fact.

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