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The new face of 'A$$hole'
#1




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



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.”


<cont>


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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. He said that many patients use the drug for far less than a year and that the price was now more in line with those of other drugs for rare diseases.



“This is still one of the smallest pharmaceutical products in the world,” he said. “It really doesn’t make sense to get any criticism for this.”



This is not the first time the 32-year-old Mr. Shkreli, who has a reputation for both brilliance and brashness, has been the center of controversy. He started MSMB Capital, a hedge fund company, in his 20s and drew attention for urging the Food and Drug Administration not to approve certain drugs made by companies whose stock he was shorting.



In 2011, Mr. Shkreli started Retrophin, which also acquired old neglected drugs and sharply raised their prices. Retrophin’s board fired Mr. Shkreli a year ago. Last month, it filed a complaint in Federal District Court in Manhattan, accusing him of using Retrophin as a personal piggy bank to pay back angry investors in his hedge fund.



Mr. Shkreli has denied the accusations. He has filed for arbitration against his old company, which he says owes him at least $25 million in severance. “They are sort of concocting this wild and crazy and unlikely story to swindle me out of the money,” he said.




Oh yeah, here's another pic...



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#2
AI guess it could be worse. He could be a serial killer.
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#3
Quote:

Originally Posted by Bradito View Post

I guess it could be worse. He could be a serial killer.

It could be argued that he sorta is....

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#4
AGeez, I'm a free-market capitalist and even I want to go all Bolshevik on his smarmy ass.
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#5

If ever there were a face that you want to commit violence on...



But more to the point...



HOW THE FUCK IS THIS SHIT LEGAL?!!  He's literally exploiting the sick and the dying.  Shouldn't there be fucking laws to prevent shit like this?

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#6
Quote:

Originally Posted by Codename View Post
 

HOW THE FUCK IS THIS SHIT LEGAL?!!  He's literally exploiting the sick and the dying.  Shouldn't there be fucking laws to prevent shit like this?



The invisible hand of the market is our friend. Do not question the invisible hand. The invisible hand loves you.

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#7
Quote:
Originally Posted by bendrix View Post
 


The invisible hand of the market is our friend. Do not question the invisible hand. The invisible hand loves you.


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#8

He was interviewed somewhere yesterday (only heard a snippet on the radio) and claimed that the price increase was justified to drive faltering company profits, which he promises he would re-invest in the company to develop an even better, and sorely needed, version of the drug.





And not to purchase himself a new 150 ft luxury yacht.  Suuuuuuure.

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#9

I've also read elsewhere that the ACTUAL reason he's driving prices up is so that he could pay back angry investors for his Hedge Fund that went tits up thanks to his shitty advice.



No idea if that is actually true...but I can believe it.

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#10
AIt's hilarious that clowns like this aren't even savvy businessmen. They understand the "greed is good" part, but after they run something into the ground, they just move onto the next scam.
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#11
AWell how do they even get into a position to fail upwards that HARD in the first place? Just assholes who are born rich and just do whatever the fuck they want?
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#12
A"This 55x price hike is totally necessary for us to stay in business! Oh, wait, I guess we can keep it at the old price, if you promise to put down those nooses and pitchforks."

When I'm President, anybody who covers for anything they did with "mistakes were made" will have their tongue cut out and stapled to their forehead. (What, do they just kind of spontaneously manifest out of thin air or something?)
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#13

You know, we rightfully give a lot of shit to online outrage and social media mob justice.  But every once in a while it can have a positive effect.



Also, whoever came up with 'Pharma Bro' deserves a pat on the head.

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#14

http://deadstate.org/hackers-just-releas...in-shkreli

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#15
AI'm going to order so many pizzas and have them sent to that guy's address!
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#16
AIn a twist that is sure shock and disillusion everybody, Pharma Bro has been arrested for fraud. I'm sure you're all just aghast.
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#17
AJust when you think that even the tiniest speck of justice in the world has been swept away..
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#18

He was probably out on bail in less than a day, but it's the thought that counts. A nice early Christmas present to the world, courtesy of the F. B. I. .

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#19
AI know man, I KNOW!

Don't...ruin this moment for me!

I wish Bane would bankrupt him at the stock exchange and then he'd contract whatever illness it is that he would need that drug to live. THAT would be some poetic fucking justice!

The only way that this dude's actions could ever be deemed justifiable is if HE'S really Batman and the drug is something used to treat affluenza and he uses the fortune he makes off of it to fund his war on crime/terror..
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#20

Ugh, I second the motion that as a free market capitalist I want to knock the crap out of this douchebag.



Actually I am more of a believer in combined approach, both extremes have both downsides and benefits. It takes adjustments in both directions to curb abuses and rectify problems.

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#21
Quote:

Originally Posted by 3nnui View Post
 

Ugh, I second the motion that as a free market capitalist I want to knock the crap out of this douchebag.



Actually I am more of a believer in combined approach, both extremes have both downsides and benefits. It takes adjustments in both directions to curb abuses and rectify problems.



One could argue that a  lynch mob is nothing if not a free market reaction to conditions that the public finds unacceptable.  I'd argue that we're better off as a nation of laws, but for that reason those laws need to include regulations against profiteering and monopoly.  But if we're not going to have that kind of regulation on the game, then we do kind of need the mob to specifically and virulently hate the player.

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#22
AAhahahahaha!
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#23

This photo can't be shared enough....




Martin Shkreli, the former hedge fund manager under fire for buying a pharmaceutical company and ratcheting up the price of a life-saving drug, is escorted by law enforcement agents in New York Thursday, Dec. 17, 2015, after being taken into custody following a securities probe.




http://www.cnbc.com/2015/12/17/turing-ph...uters.html

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#24

That hoodie cost $4,000. Worth every penny.

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#25
AThat's the look of someone who just realized that they are fucked.
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#26

Didn't he buy the only copy of the most recent Wu Tang Album for 2 mil?

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#27
Quote:
Originally Posted by Jonathan Parker View Post
 

Didn't he buy the only copy of the most recent Wu Tang Album for 2 mil?



I wonder what that comes to in prison dollars?

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#28
A[quote name="VTRan" url="/community/t/154456/the-new-face-of-a-hole#post_3989584"]This photo can't be shared enough....

[/quote]
Ahh, it's a Christmas miracle. God bless us, every one.
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#29

: )



Patton Oswalt@pattonoswalt 10m10 minutes ago



Dear Hypothetical Prison Warden: If #MartinShkreli hangs a poster of Ayn Rand in his cell, check behind it for a tunnel.

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#30
AHow did you FBI people guess what I want for Christmas? You're the best!
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#31
Quote:

Originally Posted by Jonathan Parker View Post
 

Didn't he buy the only copy of the most recent Wu Tang Album for 2 mil?


Yes. There's also this:



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#32

Sadly, that Wu-Tang contract is fake....this bit of legalese, on the other hand, isn't.





http://www.theatlantic.com/entertainment...re/421011/

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#33
AWait, does this mean that the U.S. government is going to take possession of the WTC album?
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#34
Quote:

Originally Posted by commodorejohn View Post

Wait, does this mean that the U.S. government is going to take possession of the WTC album?

The article VTRan linked to dives into the possibilities/probability of that in detail.

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#35
AHopefully he gets AIDS in prison.
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