Pharmaceutical Pirates

[bobabode]

https://www.washingtonpost.com/news/...or-asking-why/

This is screwed up. Old drug gets sold and this bandito raises the piece astronomically.

[Pio1980]

This will get the sort of publicity corporations dread.

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[donquixote99]

The CEO culture has gone full asshole.

[bobabode]

Generic drugs are also going through the roof.

http://www.forbes.com/sites/greatspe...s-shooting-up/

[bobabode]

"Until last month, patients suffering from the parasite-borne disease toxoplasmosis -- which in its worst manifestations can cause blindness, neurological problems or death -- had reasonable access to a remedy: a six-week, two-pill-a-day course of the drug Daraprim, at a cost of about $1,130.
Then an entrepreneurial company called Turing Pharmaceuticals acquired the exclusive rights to Daraprim and raised its price from $13.50 per pill to $750, bringing the total treatment cost to $63,000. For longer-term patients such as sufferers from HIV, the annual cost can go as high as $634,000, according to a joint statement from the Infectious Diseases Society of America and the HIV Medicine Assn." Hiltzik at the LA Times
http://www.latimes.com/business/hilt...21-column.html

[Pio1980]

Yes, but, but, but it's free market capitalism and all perfectly legal. Right?

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[ebacon]

Originally Posted by Pio1980

Yes, but, but, but it's free market capitalism and all perfectly legal. Right?

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Assuming rules could fix the issue, what rule would you propose?

Remember that I do not play gotcha. Cut loose and experiment with an answer.

[Dondilion]

"a former hedge fund manager" . These guys do not sleep. They want to become overnight billionaires, regardless...
http://www.bbc.com/news/world-us-canada-34320413

[Boreas]

Originally Posted by Pio1980

Yes, but, but, but it's free market capitalism and all perfectly legal. Right?

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Turing Pharmaceuticals isn't a pharmaceutical company in the typical sense. In other words, they don't develop drugs. They buy the exclusive rights to them from other companies and jack the price. Shkreli is a dirtbag of the first order. His background is as a hedge fund manager and a "stock picker" on Wall Street. His only interest in pharmaceuticals is to make a huge killing as fast as possible and then sell the drug on to the next company.

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

[Pio1980]

Originally Posted by ebacon

Assuming rules could fix the issue, what rule would you propose?

Remember that I do not play gotcha. Cut loose and experiment with an answer.

Dunno, anti-trust something of an essential commodity?

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