Ex-hedge funder buys rights to AIDS drug and raises price

[Jasandjules]

loose cannon said:

Unfortunately most of the planet is run by such people

Indeed. We appear to have similar psychopathic individuals running this country.

[cirian75]

Jasandjules said:

loose cannon said:

Unfortunately most of the planet is run by such people

Indeed. We appear to have similar psychopathic individuals running this country.

a few lads called Cameron, George and Ian.

[clonmult]

cirian75 said:

Turns out Pyrimethamine (Daraprim) is a WHO listed essential drug.

https://en.wikipedia.org/wiki/WHO_Model_List_of_Es...

I think things will happen sooner rather than later with this scum bag

There is a generic version of Daraprim called Palera Plus. Available in other parts of the world for about 75 cents per pill. £15 was massively overpriced in the first place.

I'm wondering how the protectionist model works in the US at times; well, it works fine for those in control, screws over the rest.

[cirian75]

clonmult said:

cirian75 said:

Turns out Pyrimethamine (Daraprim) is a WHO listed essential drug.

https://en.wikipedia.org/wiki/WHO_Model_List_of_Es...

I think things will happen sooner rather than later with this scum bag

There is a generic version of Daraprim called Palera Plus. Available in other parts of the world for about 75 cents per pill. £15 was massively overpriced in the first place.

I'm wondering how the protectionist model works in the US at times; well, it works fine for those in control, screws over the rest.

13p each in India !

[p1stonhead]

Seems he has caved albeit he hasnt said by how much;

http://www.bbc.co.uk/news/world-us-canada-34332363

[rohrl]

This delightful gentleman has form. He previously hiked the price of a drug for children with incurable kidney disease by more than 2000%.

What a hero.

http://www.independent.co.uk/news/people/martin-sh...

[Jasandjules]

Sounds like the kind of fellow who needs introducing to a fist at high speed. Several times.

[clonmult]

cirian75 said:

clonmult said:

cirian75 said:

Turns out Pyrimethamine (Daraprim) is a WHO listed essential drug.

https://en.wikipedia.org/wiki/WHO_Model_List_of_Es...

I think things will happen sooner rather than later with this scum bag

There is a generic version of Daraprim called Palera Plus. Available in other parts of the world for about 75 cents per pill. £15 was massively overpriced in the first place.

I'm wondering how the protectionist model works in the US at times; well, it works fine for those in control, screws over the rest.

13p each in India !

Ruddy heck .... thats mad.

Bet there are plenty of excuses given by big pharma as to why the cheaper version shouldn't be made available in the US.

[iambeowulf]

Jasandjules said:

Sounds like the kind of fellow who needs introducing to a fist at high speed. Several times.

Wouldn't that injure the owner of the fist?

[Dr Jekyll]

Slightly tinfoil theory but may well be part of the story.

http://www.huffingtonpost.com/james-peron/why-one-...

[iambeowulf]

So to recap.

It's not a widely used drug, certainly not for potioplastix or whatever it is, and not in AIDS treatment. More so malaria.
The FDA are the ones making the market like this.
Outraged public demand the government do something (More draconian FDA rules)
This bloke is just a speculator and is using the system to make profit, for his shareholders. (Some might even need this drug, but doubtful)

So. Who cares.

[456mgt]

Dr Jekyll said:

Slightly tinfoil theory but may well be part of the story.

http://www.huffingtonpost.com/james-peron/why-one-...

Not a theory, that's bang on the money. The price is hiked only in the US, because the regulatory environment allows it, the price elsewhere is unchanged. He's an easy figure to pillory but he didn't make the rules, he's exploited them.

Problem is that he refers to himself as a 'genius', but clearly not so much of a genius that he predicted the huge backlash and likely arbitrage on parallel importation.

[dudleybloke]

Seems Mr Shkreli has been arrested for securities fraud.
Maybe he will get chance to listen to his Wu-Tang album in jail.

[jmorgan]

He was recently trying to mess with another drugs price? Cannot find the story now that this is out.

[rohrl]

http://www.bloomberg.com/features/2015-martin-shkr...

Bloomberg said:

Shkreli, Drug Price Gouger, Denies Fraud and Posts Bail
Arrested Thursday, accused of Ponzi-like scheme

He hasn't been arrested for anything to do with hiking the price of drugs but rather for ripping off investors in his enterprises.

[R8Steve]

rohrl said:

http://www.bloomberg.com/features/2015-martin-shkr...

Bloomberg said:

Shkreli, Drug Price Gouger, Denies Fraud and Posts Bail
Arrested Thursday, accused of Ponzi-like scheme

He hasn't been arrested for anything to do with hiking the price of drugs but rather for ripping off investors in his enterprises.

But would he have been arrested at all on any charge if it wasn't for him pissing everyone off with the drug price situation? I doubt it.

[walm]

R8Steve said:

But would he have been arrested at all on any charge if it wasn't for him pissing everyone off with the drug price situation? I doubt it.

They were investigating him from 2014 before Turing was even founded.
The deals he made with Retrophin (2011-2014) sound like a classic ponzi.

[Otispunkmeyer]

456mgt said:

Dr Jekyll said:

Slightly tinfoil theory but may well be part of the story.

http://www.huffingtonpost.com/james-peron/why-one-...

Not a theory, that's bang on the money. The price is hiked only in the US, because the regulatory environment allows it, the price elsewhere is unchanged. He's an easy figure to pillory but he didn't make the rules, he's exploited them.

Problem is that he refers to himself as a 'genius', but clearly not so much of a genius that he predicted the huge backlash and likely arbitrage on parallel importation.

seems many who make mega bucks like to think themselves as a genius. Often turns out they're playing the system, bent or didn't really understand what they purported to understand fully (e.g Long Term Capital; thought they had it covered with their maths....whoops).

The funny thing is, real genius probably isn't all that interested in money in the first place!

[R8Steve]

walm said:

R8Steve said:

But would he have been arrested at all on any charge if it wasn't for him pissing everyone off with the drug price situation? I doubt it.

They were investigating him from 2014 before Turing was even founded.
The deals he made with Retrophin (2011-2014) sound like a classic ponzi.

You can be sure his latest stunt heightened that investigation though.

[Burwood]

R8Steve said:

walm said:

R8Steve said:

But would he have been arrested at all on any charge if it wasn't for him pissing everyone off with the drug price situation? I doubt it.

They were investigating him from 2014 before Turing was even founded.
The deals he made with Retrophin (2011-2014) sound like a classic ponzi.

You can be sure his latest stunt heightened that investigation though.

And tipped off the media to ensure some pice pics of him in his lovely designer hoodie and bracelets.