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Drug Price Goes from $13.50 to $750 Per Tablet In One Day


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#41 LFC

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Posted 20 January 2016 - 03:06 PM

Looks like there's a bit of desperation plaguing this formerly cocky little shit. He just fired his entire defense teem.

Quote

Martin Shkreli, the disgraced “Pharma bro” and former hedge fund executive, hopes to push back Wednesday’s court date by sacking his entire defense team.

A two-week delay was requested by Shkreli and his squad of lawyers so the embattled securities fraud suspect could transition to a new legal team.

A letter to Judge Kiyo A. Matsumoto, filed in U.S. District Court in Brooklyn, does not bother to explain why Shkreli gave Washington firm Arnold & Porter the boot.

'PHARMA BRO': DON'T CALL ME 'PHARAMABRO'

“Mr. Shkreli has indicated he wishes to replace our firm as counsel and is in the process of retaining new counsel,” wrote Marcus A. Asner, whose firm stood by Shkreli’s side following his December arrest.

Shkreli offered no reason for the turnover other than “unforeseen circumstances,” the 32-year-old said in a live stream Tuesday night from his Manhattan apartment.

Matsumoto granted Asner's request, pushing back Shrekli's next court date until Feb. 3.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#42 Beelzebuddy

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Posted 20 January 2016 - 04:58 PM

http://www.thedailyb...fore-house.html

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Former Turing CEO Martin Shkreli—the reviled "pharma bro" who owns an exclusive Wu-Tang Clan album and currently faces multiple fraud charges—has been subpoenaed to testify before the U.S. Congress, according to a picture of a letter he tweeted. According to the document pictured, the House of Representatives will require his presence on Tuesday, January 26, at 10 a.m.

Fear Sells!

Cui bono?

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#43 LFC

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Posted 04 May 2016 - 01:51 PM

Martin Shkreli, candidate for Top Douchebag of America, is likely going to be facing more charges. Couldn't happen to a nicer guy.

Quote

Martin Shkreli, the former pharmaceutical executive known for jacking up the price of a life-saving drug, may face additional federal charges, including securities fraud.

Prosecutors could file more charges related to Shkreli’s involvement with biopharmaceutical company Retrophin Inc. within a month, Assistant U.S. Attorney Winston Paes said at a Tuesday hearing in federal court in Brooklyn, New York, Reuters reported.

Paes said the securities fraud charges would be similar to the existing charges. Prosecutors have previously accused Shkreli of wire fraud, including illegally siphoning money from one of his companies to pay off bad market bets made by another of his companies.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#44 LFC

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Posted 20 August 2016 - 01:10 PM

The price of EpiPens has also skyrocketed. Hey, you can't put a price on your child's life, right? That means the price is justified!

Quote

The cost of saving your child's life has gotten a lot more expensive.

Parents getting ready for back-to-school season have another item to toss in the basket along with Trapper Keepers and boxes of pencils — and they're facing sticker shock at the latest price increase.

Doctors and patients say the Mylan pharmaceutical company has jacked up the prices for an EpiPen — the portable device that can stop a potentially life-threatening allergic reaction — from around $100 in 2008 to $500 and up today.

That's a hike of over 400 percent.

" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#45 J-CA

    Probably in one of my drunken stupors..

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Posted 20 August 2016 - 02:57 PM

The EpiPen issue would go away if someone would competently manufacture a generic substitute, it can be done but it seems that the company trying to do it is screwing up.
http://seekingalpha....ric-epipen-hold
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#46 baw1064

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Posted 20 August 2016 - 03:13 PM

View PostJ-CA, on 20 August 2016 - 02:57 PM, said:

The EpiPen issue would go away if someone would competently manufacture a generic substitute, it can be done but it seems that the company trying to do it is screwing up.
http://seekingalpha....ric-epipen-hold

Is the manufacturer of the brand-name version paying them to screw up?
“Unless someone like you cares a whole awful lot, Nothing is going to get better. It's not.” --Dr. Seuss

#47 J-CA

    Probably in one of my drunken stupors..

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Posted 20 August 2016 - 03:24 PM

View Postbaw1064, on 20 August 2016 - 03:13 PM, said:

Is the manufacturer of the brand-name version paying them to screw up?
I love a good conspiracy theory as much as the next guy but there is so much money to be made selling these things that I don't see how they could be doing it wrong on purpose even if there were some nefarious motives involved.
I am the burrito until someone hands me to a philosopher.

#48 baw1064

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Posted 20 August 2016 - 07:18 PM

An inelastic demand curve can lead to some pretty strange behavior though. Meaning the market for Epi-pens (measured in number of pens sold) isn't going to depend significantly on the sales price--you either need one or you don't.

So the only way the market (measured in dollars) can grow is to increase the unit price.

If Company A is currently selling pens for $500, and the price would drop to $100 if company B also sold them, and the total number of pens sold by company A and company B would remain the same as what company A sells now, then it is actually better for both companies for company A to give company B $150 for every pen they sell to stay out of the market.
“Unless someone like you cares a whole awful lot, Nothing is going to get better. It's not.” --Dr. Seuss

#49 J-CA

    Probably in one of my drunken stupors..

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Posted 20 August 2016 - 08:15 PM

Epipen demand is not inelastic, the huge profits generated by the product are mostly caused by recent effective marketing.
http://www.bloomberg...dollar-business

How does Company A get that $150 per pen to Company B? Those mysterious hundred-million-dollar ledger entries in the books of publically traded companies usually catch someone's attention pretty quickly.
I am the burrito until someone hands me to a philosopher.

#50 indy

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Posted 24 August 2016 - 04:44 AM

Lots of very interesting EpiPen information in this article: http://www.nbcnews.c...-prices-n636591

And this one as well: http://www.cnbc.com/...ing-epipen.html

Was I the only one ignorant of the fact that the CEO of the manufacturer is Senator Joe Manchin's daughter?

Quote

After Mylan acquired EpiPen the company also amped up its lobbying efforts. In 2008, its reported spending on lobbying went from $270,000 to $1.2 million, according to opensecrets.org.

Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one and that they be prescribed for at-risk patients, not just those with confirmed allergies. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools.


#51 Rich T Bikkies

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Posted 24 August 2016 - 06:05 AM

View PostLFC, on 20 January 2016 - 03:06 PM, said:

Looks like there's a bit of desperation plaguing this formerly cocky little shit. He just fired his entire defense teem.

"Formerly cocky"? I'd love to see evidence that he is significantly less cocky than hitherto. This type usually keep on posing and poncing, blustering and bloviating, right until they fall off the cliff. It's an essential survival skill for such a person.
Reality is a hallucination caused by alcohol deprivation.

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#52 LFC

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Posted 24 August 2016 - 09:15 AM

View PostRich T Bikkies, on 24 August 2016 - 06:05 AM, said:

"Formerly cocky"? I'd love to see evidence that he is significantly less cocky than hitherto. This type usually keep on posing and poncing, blustering and bloviating, right until they fall off the cliff. It's an essential survival skill for such a person.

Trump's soul mate?
" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#53 LFC

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Posted 24 August 2016 - 09:27 AM

View Postindy, on 24 August 2016 - 04:44 AM, said:

Lots of very interesting EpiPen information in this article: http://www.nbcnews.c...-prices-n636591

And this one as well: http://www.cnbc.com/...ing-epipen.html

Was I the only one ignorant of the fact that the CEO of the manufacturer is Senator Joe Manchin's daughter?

A dislike like. This is just disgusting.
" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer

#54 AnBr

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Posted 25 August 2016 - 12:21 PM

Posted Image
“One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.”

— Carl Sagan


Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#55 AnBr

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Posted 25 August 2016 - 11:26 PM

EpiPen maker’s stock value plunges nearly $3 billion as investors panic
“One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.”

— Carl Sagan


Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#56 Art_Vandelay

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Posted 27 August 2016 - 06:47 AM

EpiPen CEO: Blame the 'broken' system, not me

Quote

But Bresch argued that a lack of transparency in the complex health care system -- with bigger cuts for everyone along the supply chain -- "incentivizes higher prices" in the industry. She pointed out that copays and deductibles are on the rise, too.
"This system needs to be fixed. No one knows what anything costs," Bresch told CNBC on Thursday.
The Mylan CEO compared the health care industry to the real estate mortgage crisis of 2008.
"Our health care system is in a crisis...This bubble is going to burst," Bresch said.

Translation: Someone needs to fix the system so that shitty people like me don't gouge unfortunate people who need life saving medicine --- because that is what we do.

#57 Rich T Bikkies

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Posted 27 August 2016 - 08:07 AM

View PostArt_Vandelay, on 27 August 2016 - 06:47 AM, said:

EpiPen CEO: Blame the 'broken' system, not me


Translation: Someone needs to fix the system so that shitty people like me don't gouge unfortunate people who need life saving medicine --- because that is what we do.

It reminds me of the question I'd like to put (if I ever had the opportunity) to any big business(wo)man who claims to do business ethically: "Have you ever made a bad business decision - something that lost big money or markets - deliberately, because it was the right thing to do?".

She would understand the question pretty well - except possibly the last seven words.
Reality is a hallucination caused by alcohol deprivation.

Only Satan can rebuke sin. The righteous don't know enough.

God is not dead. He was merely voted out of office.

You can do anything with anybody if you just save them the trouble of thinking.

#58 Art_Vandelay

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Posted 28 August 2016 - 07:41 AM

Mylan CEO sold $5m worth of stock while EpiPen price drew scrutiny

Quote


Heather Bresch, the CEO at the center of EpiPen’s 471% price hike, sold 100,200 of her shares earlier this month and earned more than $5m from the sale.
The transaction took place on 9 August, the same day Mylan – the drugmaker that manufactures EpiPen – released its most recent earnings report. Mylan spokeswoman Nina Devlin told the Guardian that the sale was “part of a 10b5 plan”. Typically, executives and directors of public companies who want to sell their stock establish a written 10b5 plan to do so. Most of 10b5 plans include a waiting period spanning days or weeks to avoid any suspicion of trading based on material non-public information. Simply put, 10b5 plans are used to avoid being suspected of insider trading.
Yet Bresch did not need insider information to know that trouble lay ahead.
Early in June, Wells Fargo analyst David Maris put together a report detailing that since the beginning of this year, Mylan raised the prices of seven of its products by 100% or more and 24 products by 20% or more. At the time, Devlin called the report “flawed”.
The report came months after Marti Shkreli, former chief executive of Turing Pharmaceuticals, increased prices of HIV medicine Daraprim 5,000%. In his attempts to defend the decision, Shkreli become notorious and was even summoned before the US Congress to justify the price hike.
As a result, in June, Maris of Wells Fargo noted that price hikes could lead to similar trouble for Mylan.

She sold the stock at a 6 month high. Since then the stock has gone down 16%. Huh.

#59 AnBr

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Posted 31 August 2016 - 01:09 PM

https://www.facebook...32862170082575/
“One of the saddest lessons of history is this: If we've been bamboozled long enough, we tend to reject any evidence of the bamboozle. We’re no longer interested in finding out the truth. The bamboozle has captured us. It's simply too painful to acknowledge, even to ourselves, that we’ve been taken. Once you give a charlatan power over you, you almost never get it back.”

— Carl Sagan


Pray for Trump: Psalm 109:8

"Science is more than a body of knowledge; it is a way of thinking. I have a foreboding of an America in my children's or grandchildren's time - when the United States is a service and information economy; when nearly all the key manufacturing industries have slipped away to other countries; when awesome technological powers arc in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

— Carl Sagan
The Demon-Haunted World: Science as a Candle in the Dark
1995


“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart's desire at last and the White House will be adorned by a downright moron.”

— H.L. Mencken
On Politics: A Carnival of Buncombe


“The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.”

— Franklin Delano Roosevelt
Second inaugural address January, 1937

#60 LFC

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Posted 06 September 2016 - 03:53 PM

New York has opened up a probe about how Epipens were placed in schools and there's now a class action lawsuit. Good thing the CEO was well compensated for all of her competence. It's tough to find people of that caliber.
" 'Individual conscience' means that women only get contraceptives if their employers, their physicians, their pharmacists, their husbands and/or fathers, pastors, and possibly their mayors, Governors, State Secretaries of Health, Congressmen, Senators, and President all agree that in that particular case they're justifiable." --D.C. Sessions

"That's the problem with being implacable foes - no one has any incentive to treat you as anything more than an obstacle to be overcome."

"The 'Road to Serfdom' is really all right turns." --Progressive Whisperer

""The GOP ... where every accusation is also a confession." --Progressive Whisperer





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