Posted on 12/17/2015 7:58:56 PM PST by Tolerance Sucks Rocks
Martin Shkreli, who drew national scorn for hiking the cost of a life-saving drug 4,000 percent overnight, has been arrested, according to multiple reports early Thursday.
The 32-year-old founder and CEO of Turing Pharmaceutical made headlines in September for raising the price of Daraprim, often used to treat HIV and AIDS patients, from $13.50 per pill to $750 per pill after buying the rights to the drug.
His arrest is reportedly not related to that price increase.
Shkreli is accused of illegally taking stock from a biotechnology firm he launched in 2011 called Retrophin Inc., Bloomberg reported, and using it to pay off unrelated business debts.
Federal prosecutors allege he also conducted a complicated shell game with his shuttered hedge fund, MSMB Capital Management, the news service added. He is charged with making sham consulting agreements and secret payoffs using the firm.
Maybe not, but I'm betting that the karma is. );-D
PING!
Little pr***
Oh, yeah, and I hope he rots.
When you find someone who commits one unethical, immoral or illegal act, odds are good there’s more.
Covered by obamacare, no consideration of preexisting conditions?
Must not have cleared the transfer of wealth with Duh-1.
Now the homomafia is in payback mode?
Perhaps, but anybody who raises the price of a drug 4000 percent is morally equivalent to the stuff that comes out of the south end of a northbound dog.
Comments # 2 & 7 are perfect. Totally agree!
It is targeted for a much smaller market, and the research costs couldn't have been that cheap.
Imagine if the time and money spent on AIDS had been spent on cancer? on diabetes? on heart disease? Alzheimer's? or a host of other more widely distributed maladies which were not necessarily a product of self-infliction.
Alongside the drug price increase, he’s also widely reviled for:
The rap group Wu Tang Clan (you may not like their music but they do excel in their genre) released a musical treasure - a full studio album, high quality, earnest artwork ... and made exactly one copy. Highly sought after, it (and it’s ornate case and elaborate accompanying book) were bought by this jackass for $2,000,000 ... who never listened to it, and used the CD as a beer coaster.
Only exception is if the actual costs to make it somehow become astronomical.
Price controls...slippery slope
Well, apparently the company was getting by at $13.50 a pill, but Shkreli raised it to $750 a pill. Imagine if somebody screwed the people you believe are more worthy of help that way? Would you stand for it?
Excellent!
I’m actually not for controlling the price. He can raise it however high he wants, and we can thoroughly revile the scumbag for doing it.
As I understand it, the backlash did compel him to lower the price. I doubt that he lowered it all the way back to the original $13.50 a pill, however..
Slippery slope. And so is ramming it right up the wazzoo of people with grave illnesses.
It isn't a question of who I think should get help, whether that be little kids with lymphoma or bone smugglers who got the HIV bug for street cred.
For the guy who bought the rights, it is a question of return on investment.
I don't know how much he spent, but he is tapping a demographic which is covered by Obamacare (preexisting conditions OK).
IMHO, that amounts to as much a transfer of wealth as $500 million in loan guarantees to a solar company on the ropes.
Guess whose money that is?
Maybe he didn't kick back enough to the Democrats.
SHKRELI, MARTIN BEDFORD NY 10506 ALBA CONSULTANT CLINTON, HILLARY RODHAM VIA HILLARY CLINTON FOR PRESIDENT 12/28/2007 1000.00 28931910444
SHKRELI, MARTIN BEDFORD NY 10506 ALBA CONSTRUCTION CONNECTICUT DEMOCRATIC STATE CENTRAL COMMITTEE 06/30/2014 2500.00 14950077459
SHKRELI, MARTIN MAHOPAC NY 10541 ALBA CONSTRUCTION KERRY, JOHN F VIA JOHN KERRY FOR PRESIDENT INC 03/23/2004 1000.00 25971251047
SHKRELI, MARTIN MR BEDFORD NY 10506 ALBA GENERAL CONTRACTORS MCCONNELL, MITCH VIA MCCONNELL SENATE COMMITTEE 10/02/2014 1000.00 14021112668
Excerpts from the FEC
6 posted on 9‎-24-2015‎‎ 1‎:30‎‎:57‎ ‎AM by BigEdLB
I’ve always wondered how guys like that don’t get attacked. Imagine if you were watching a family member suffer. And saw him smirking about a 4000% increase in the drug that can save them.
I’m always astounded that people don’t give in to the anger and just walk up and do it.
I think a similar thing about when a parent is burying a child and the westboro church shows up laughing and celebrating.
If I was on the jury.....
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