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

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

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

Total Members Polled: 354

What a dick: 92%
What a hero: 8%
Author
Discussion

Halb

Original Poster:

53,012 posts

184 months

Monday 21st September 2015
quotequote all
Ex-hedge funder buys rights to AIDS drug and raises price from $13.50 to $750 per pill
http://www.rawstory.com/2015/09/ex-hedge-funder-bu...

Ex-hedge funder who hiked AIDS pill cost by 5,500 percent says drug ‘still underpriced’

pokethepope

2,661 posts

189 months

Monday 21st September 2015
quotequote all
If it's 62 yrs old won't the patent have expired and therefore another company can make it and sell at a lower/the original price?

voyds9

8,489 posts

284 months

Monday 21st September 2015
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Isn't a 60 year old drug out of patent protection anyway

deadslow

8,033 posts

224 months

Monday 21st September 2015
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Capitalism is an economic, not a moral, system. So no real surprise.

Pesty

42,655 posts

257 months

Monday 21st September 2015
quotequote all
pokethepope said:
If it's 62 yrs old won't the patent have expired and therefore another company can make it and sell at a lower/the original price?
It's 10 years I believe for drugs hence you can by generic Viagra and paracetamol etc etc


If it's 62 years old with my limited knowledge of the industry ( I really should know more) there can be very little justification for this. No more research and development plus increased productivity with modern manufacturing. Practices.

I thought you could get toxoplasmosis from cat poop. Don't 20 or so people in the UK go blind because of it every year.


It's also an anti malarial drug.

Edited by Pesty on Monday 21st September 23:52

dudleybloke

19,922 posts

187 months

Monday 21st September 2015
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He sounds a lovely person.

cirian75

4,266 posts

234 months

Tuesday 22nd September 2015
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I'll bet his companies share prices are tanking over this.

maffski

1,868 posts

160 months

Tuesday 22nd September 2015
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pokethepope said:
If it's 62 yrs old won't the patent have expired and therefore another company can make it and sell at a lower/the original price?
Yes, at the old price and sales volumes no one bothered to make a generic version. With the price rise they might, but it will still take time before it's available.

menousername

2,111 posts

143 months

Tuesday 22nd September 2015
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This was on BBG news...there has also been suggestions that he is controlling distribution with the result alternatives cannot be produced as manufacturers cannot access the original

Moonhawk

10,730 posts

220 months

Tuesday 22nd September 2015
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Bit of an emotive header - the drug is not used to treat AIDS - it's used to treat toxoplasmosis.

It's a bit like saying "penecillin or paracetamol is used to treat AIDS" - when in fact what you mean is "it's used to treat conditions in patients - some of whom have AIDS"

Not sure how he can actually do what the article claims though. Given the age of the drug - surely it is off patent by now and can be produced by any generic pharma company.

Pesty

42,655 posts

257 months

Tuesday 22nd September 2015
quotequote all
Moonhawk said:
Bit of an emotive header - the drug is not used to treat AIDS - it's used to treat toxoplasmosis.

It's a bit like saying "penecillin or paracetamol is used to treat AIDS" - when in fact what you mean is "it's used to treat conditions in patients - some of whom have AIDS"

Not sure how he can actually do what the article claims though. Given the age of the drug - surely it is off patent by now and can be produced by any generic pharma company.
All true. It's like they are try g to spin the story to make them sound worse if that's possible of course people with suppressed immune systems are more susceptible to this kind of thing.

It seems that everybody else stopped producing it and this is the sole manufacturer the story doesn't seem to make sense on many levels.

456mgt

2,504 posts

267 months

Tuesday 22nd September 2015
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Unfortunately, the story makes perfect sense. It's not the first time it's been done, or even the first time he's done it. It's not even the first time it's been done with that specific drug.

You'd think that because the patents had expired, there'd be a gazillion companies churning it out. It's not how the generics market works though. Take something like paracetamol or ibuprofen, the world supply is made in a handful of places and repackaged for sale under countless brands. You may not have to pay the patent holder but you still have to make pharmaceutical grade product with all the bureaucracy and infrastructure that entails. So it doesn't surprise me that there's only one maker of this product; who's going to bother for a low priced, infrequently used product? That'll change if the price sticks I can tell you.

What they've done is to exploit a system to encourage development of drugs for rare conditions (orphan drugs). And what makes this so newsworthy is that not only is an obnoxious thing to do, the individual himself seems to have unfortunate personality traits. He is quoted as telling a highly respected industry journalist he wouldn't be able to understand the new pricing strategy, and that he is 'a moron'.

cirian75

4,266 posts

234 months

Tuesday 22nd September 2015
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It will take other Pharma companies a few months to gear up to production, 6 to 9 months.

mean time he makes mega bucks

Typical hedge fund scum bag, plus looking at what his responses, he's a full blown sociopath.

rscott

14,802 posts

192 months

Tuesday 22nd September 2015
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More info on it here - https://www.techdirt.com/articles/20150919/2052013... .

They're not just jacking the price up massively, they're also changing the supply chain, potentially making it harder for some to obtain the drug. Presumably to encourage pharmacies to hold stocks of it, 'just in case'.

Paul Dishman

4,728 posts

238 months

Tuesday 22nd September 2015
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rscott said:
More info on it here - https://www.techdirt.com/articles/20150919/2052013... .

They're not just jacking the price up massively, they're also changing the supply chain, potentially making it harder for some to obtain the drug. Presumably to encourage pharmacies to hold stocks of it, 'just in case'.
No one will hold stocks for it at $750 per tablet.

Driller

8,310 posts

279 months

Tuesday 22nd September 2015
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I expect the "if you don't like it, don't buy it then" crew will be along shortly rolleyes

FredClogs

14,041 posts

162 months

Tuesday 22nd September 2015
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Toxoplasmosis is the parasite which cats use to control their victims (us). Studies in rats show that those infected with the parasite lose their natural fear of cats and become attracted to them, it's how moggies have sidled their way in to human culture over the years, obviously they then report back to their demon over lord Beelzebub.

https://en.wikipedia.org/wiki/Toxoplasmosis#.22Cra...

This man is obviously close to the source of all evil and controlling the spread of this cat born devilish infestation.

Burn him.

jmorgan

36,010 posts

285 months

Tuesday 22nd September 2015
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Clicked the wrong vote. Damn.

Reminds me of a chancer that bought a title and tried to use that to con residents out of money by charging them to cross land to get to their homes, that land to be crossed apparently came with that title.

If indeed I understand this right.

cirian75

4,266 posts

234 months

Tuesday 22nd September 2015
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Old Hillary has noticed too

http://money.cnn.com/2015/09/21/investing/hillary-...

come on Martin Shkreli, have a pop at Hilary if your brave enough.

esxste

3,709 posts

107 months

Tuesday 22nd September 2015
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Should the free market be allowed to affect peoples health so cynically?

It's an emotive and difficult balance to achieve - fair reward for those who invest in developing new drugs weighed against the possibility of parasites gaming the system for undeserved reward.