Pharma Bro jailed after judge declares him a ‘danger to society’

Discussion in 'Wall St. News' started by ajacobson, Sep 13, 2017.

  1. zdreg


    "Why anyone would be an apologist for this jerk out of anything but obstinance is beyond me! Like I said, you, me, and most of ET have done more to make the world a better place, why not sing those praises instead of defending this jerk"
    I don't know. there are some near psychopaths on this board who likely make people around themselves pretty miserable.
    Last edited: Sep 14, 2017
    #31     Sep 14, 2017
  2. He hiked the price of a infection fighting potentially life-saving drug from $13.50 to $750 because the company needed to "make a profit, R&D and keep up with operational costs".

    Simple economics says something now costing 1800% more will have less life-saving sales. Meanwhile the former owner of the drug somehow made a buck.
    #32     Sep 14, 2017
  3. comagnum


    He also gave half it away for $1, only those insured paid the full price. The # of people using that drug is extremely small and the lifetime cost is a lot lower than many other life saving drugs sold by big pharma.

    Some months back I scoured every Daraprim forum, not finding a single person claiming they could not get the drug. There was some worry at first until they found out they just had a form to fill out to get the $1 price. I found many that were happy he raised the price so as to work on the next generation of this drug, one of the side effects is you chances of getting cancer go way up after taking it.

    Clinton jumped on a Skreli 10 second sound byte to make him public enemy #1 & herself appear to be a champion of the people fighting against widespread drug price gouging. Its a lot easier to go after the single cell ameba in a sea of drug gouging and turn a blind eye on the big pharma whales. After all they were some of her biggest contributors.
    Last edited: Sep 14, 2017
    #33     Sep 14, 2017
    Macca1, zdreg, ET180 and 1 other person like this.
  4. thaitye


    You should do more reading, because if you did you would realize what comagnum also realized. For the non insured he charged a whopping $1 for it. He basically shoved a stick in insurance companies asses. But irregardless, pumping up drug prices because you have a patent is basically how pharma makes money. Welcome to capitalism.
    #34     Sep 14, 2017
    Macca1, ET180 and Clubber Lang like this.
  5. Hoping he can explain his pricing model when they move him to Rikers. The securities fraud and the Facebook threats may become secondary concerns. I'm confident he'll make friends easily.
    #35     Sep 14, 2017
  6. Sig


    How you people continue to get sucked in by narcissists over and over while they screw you and you continue to adore them is....well an interesting study in human psychology to put it nicely.

    First off, you do realize that insurance is a risk pool and "shoving a stick in insurance companies asses" was shoving a stick in your ass if you were insured because you paid for it, don't you?
    Second, manipulating stock prices is capitalism. Dumping arsenic in the river in front of your plant is capitalism. Buying out all your competition and forming a giant monopoly is capitalism. Capitalism isn't a religion, it's a system that works very well but breaks down in certain circumstances. Orphan drugs is a classic market breakdown, so much so that it makes it into business school case studies along with the other 3 examples I listed. We don't have complete unbridled capitalism in this country and thank goodness for that. Welcome to the United States.

    This jackass wasn't following the pharma model of spending big bucks on research and amortizing that over the few successful drugs you get out the other end of the pipeline for the duration of your patent. That's an honorable business model, although we can argue about what an appropriate level of profits is. He acquired a drug that didn't have a generic version yet for very little, one that he did nothing to develop. He then jacked the price up solely to line his own pockets, then claimed (never verified) that he sold half of it for $1 when he caught heat for it. Note that at the same time he claimed that they sold half of if for $1 they also claimed they were going to lower the list price and then never did....this whole narcissist making up facts as he goes, only doing something when he get's called on it, then never actually following through on his promises starting to sound familiar?

    It really says a lot about anyone who would defend this asshole, not sure if you're just a sucker or really find anything he did admirable. I wouldn't certainly hope it's the former, the latter says nothing flattering about you.
    #36     Sep 14, 2017
    Martinghoul likes this.
  7. vanzandt


    Soap 1.jpg
    #37     Sep 14, 2017
  8. I don't think they're defending him, but simply emphasizing how his actions are child's play compared to other mass public robbery schemes, which go unnoticed and unpunished.
    #38     Sep 14, 2017
    ET180 likes this.
  9. That's what we call in Chicago the Blagojevich defense.
    #39     Sep 14, 2017
  10. You mean like the fleece job they pulled with the recent soda tax? County residents and businesses in an uproar. It's criminal, but no one to hang while they hide behind their political curtain.
    #40     Sep 14, 2017
    ThunderThor likes this.