Posted on 09/23/2015 4:59:54 PM PDT by GIdget2004
Billionaire businessman Donald Trump on Wednesday tore into a drug company CEO who has drawn national scorn for hiking the cost of a life-saving drug by 4000 percent overnight.
"He looks like a spoiled brat to me. He's a hedge fund guy. I thought it was disgusting what he did," Trump told reporters in South Carolina.
Martin Shkreli, the 32-year-old founder and CEO of Turing Pharmaceutical, has become the target of bipartisan disdain after making headlines this week for raising costs of a drug from $13.50 per pill to $750 per pill overnight.
His inflammatory comments on social media and in TV interviews — calling his price increase "a great thing for society” while berating journalists — have prompted further outcry.
Trump said he was particularly disturbed by the CEO's refusal to back down after a New York Times story publicized the cost increase.
"That guy is nothing. He's zero. He's nothing. He ought to be ashamed of himself," Trump said.
(Excerpt) Read more at thehill.com ...
The FDA requires a passel of inspections and paperwork that cannot be recouped on a small amount of revenue. It does help keep the supply safe, even for imports, but it is very onerous.
I take 5 different heart meds, plus aspirin. I can't afford the prescriptions anymore, I've had to drop off of all of them. I get tired and winded easily but I'm still here, and there are behavior modifications that I'm working on to expand my capability beyond the bare minimum. I have a tiny bottle of Nitro tablets, which are reserved for scary wake-ups with chest pain that won't subside.
When I feel good, I feel better than I have in decades. When I feel awful, it's usually my own fault. I talk to God a lot. I try to do what I know I'm supposed to. After my bypass in 2000 when the general election went to the courts, I came to terms with my own mortality.
My finances have forced this, but I was also tired of being dependent on pills. I know that other people's conditions and attitudes may differ, that's just my experience.
And this jerk is only going to result in public sentiment demanding even more government control.
I wonder if this drug is produced somewhere else in the world?
Nobody pays list.
The medication, Daraprim, is used to treat parasitic infections and is commonly used by AIDS patients. It has been around for more than 60 years.
So suddenly after 60 years there is a 4000% increase overnite. Since it’s a drug used for AIDS and not aspirin he figures he can charge what the market will bear. I guess the drug companies really love Obamacare when they can get away with this.
Boycott this sorry punk. He just look slimy.
What do you think has been driving the skyrocketing "healthcare" premiums? The RAT agenda of forcing insurers to cover queers and their self-inflicted "pre-existing contitions".
It's no different than smokers who develop lung cancer and then decide to get health insurance. These $100K-a-year groups were previously segregated from normal healthy young families who may have an occasional small claim.
Its a free country and the drug guy has every right to set his prices. But Trump is right that the public can slam him for it and he really ought to be ashamed. So that’s how the world works. You shine a bright light on something that is wrong and people generally change their ways.
So if you invest $500 million in drug development you'd have three years to make it back.
Why develop drugs?
It's no coincidence that most drugs are developed in the US. All of the countries with socialized medicine depend on the US for their drug supply.
Trump NAILED him...good for him. If the company HAS A VALID REASON to raise the price that much, that quickly, they are MORE THAN WELCOME to make their case.
I suspect not. It seems that they see a monopoly - if you want to live, pay us, if not, feel free to try your luck without us. Is that ANY DIFFERENT than the Mexican Drug Cartels that Mr. Trump also has issues with?
The days of THIS CONSERVATIVE defending BIG BUSINESS ended the day Big Business got in bed for Open Borders. If they have a case to make, THEY CAN MAKE IT. This FReeper is done carrying their water - at least until they start to show that they give a damn about this country.
http://www.freerepublic.com/focus/f-news/3340205/posts
But, but won’t Obamacare cover it? ;-)
***Since the drug has been on the market for 50 years...***
50 YEARS? There should be generics to take up the slack! If not, maybe they can get their drugs from the Cubans!
This drug has been available since 1953.
Shortening the patent to 3 years = NO NEW DRUGS.
Clown ... “Shkreli acknowledged that the cost to produce the drug is low — but he said that doesn’t take into account “the quality control, the regulatory costs, and all of the other things that come with having a drug company.”
My question ... Why then Clown ... did you buy the Company?
D.C. and the states spend hundreds of billions pandering to illegal aliens, but Americans like you have to give up their *%$&*# meds because they don't have the money?
Lots of Americans like you have had to do the same Riley!
America is broken and needs to be fixed.
That would make things even worse, because a drug company that develops a state-of-the-art drug will have to charge an exorbitant price for the drug just to ensure that they can make their money back in a compressed time period before generics flood the market.
It’s $1.73 a dose from the Canadian pharmacies.
Because there is a very big difference between a public utility and a private company.
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