Shkreli Strikes Again

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confettiflyer said:
What's wrong with this guy = he has a fiduciary duty to his shareholders and investors.
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Eh, I am not sold on this explanation. Plenty of CEOs with the same duty do not come across as money hungry slime balls. You can't explain away every douche action as "fiduciary duty" like it is some kind of get out of jail free card.

I do think Mr. Shkreli is doing everyone a favor though, the more he behaves this way, the more the public will demand action/health care reform.
 
Not much else you can expect out of a former HF co-founder and manager who's made his livelihood out of shorting healthcare stocks. Clearly, his priorities are self and investors, with the patient a distant third...

He's certainly smart, but clearly out of his depth: http://socialnewsdaily.com/58847/pharma-bro-martin-shkreli-conducts-disastrous-ama-session/
http://www.rawstory.com/2015/10/pha...ng-doctor-during-disastrous-reddit-interview/

I'd be surprised if he continues to garner confidence in his abilities, considering his horrendous PR ability. The guy has chutzpah, that's for certain. Maybe that's just what we need: http://www.businessinsider.com/why-we-need-martin-shkreli-2015-12 However, even if public outcry and loss of shareholder support somehow forces him out of healthcare leadership, he'll find an amoral home somewhere - likely back in Wall Street.
 
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owlegrad said:
Eh, I am not sold on this explanation. Plenty of CEOs with the same duty do not come across as money hungry slime balls. You can't explain away every douche action as "fiduciary duty" like it is some kind of get out of jail free card.
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It's an image thing. Some company heads are good at making you believe they're this good simple McDonald's eating normal guy (Warren Buffet), others aren't (Shkreli). In the end, they do the same thing...maximize shareholder value.

I do think Mr. Shkreli is doing everyone a favor though, the more he behaves this way, the more the public will demand action/health care reform.
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Probably. I think most pharm companies already know pricing is in the crosshairs and proceed cautiously with price increases so as not to attract left wing attention.
 
Jbrl said:
Not much else you can expect out of a former HF co-founder and manager who's made his livelihood out of shorting healthcare stocks. Clearly, his priorities are self and investors, with the patient a distant third...
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What's wrong with shorting healthcare stocks? And what's wrong with adhering to the legal standard that requires and compels him to put investors first?

If your holding company bought a pharma company for $$$ w/ investor money and did not raise the price of its drugs commensurate with that new valuation, shareholders have every right to sue you for breach of fiduciary duty.

Why should the patient even come into play in a purely financial transaction? If I buy Wal-Mart stock, I really don't give two sh*ts if they pay their employees well or not... I take ownership of a company with the expectation it make money. If I wanted to squander money unnecessarily, I'd go to Vegas.

Shkreli is still a jerk off.
 
confettiflyer said:
What's wrong with shorting healthcare stocks? And what's wrong with adhering to the legal standard that requires and compels him to put investors first?

If your holding company bought a pharma company for $$$ w/ investor money and did not raise the price of its drugs commensurate with that new valuation, shareholders have every right to sue you for breach of fiduciary duty.

Why should the patient even come into play in a purely financial transaction? If I buy Wal-Mart stock, I really don't give two sh*ts if they pay their employees well or not... I take ownership of a company with the expectation it make money. If I wanted to squander money unnecessarily, I'd go to Vegas.

Shkreli is still a jerk off.
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I'm agreeing with you: there is no reason for him to act in any other way. Hence, not much else you can expect. This is what hedge fund managers are paid to do. What rubs people the wrong way is his brazen temperament. Shorting stocks isn't wrong. However, market manipulation toes the fine line, evidenced when he thwarted approval bids for pharma drugs while actively taking a short sell position on them. An ethics issue, not a legal one

I don't know if you're playing devil's advocate, but the patient DOES come into play, and it's in no way 'purely' financial. If you believed this you wouldn't be in healthcare, no? Shareholders are only one of the many stakeholders

WVUPharm2007 said:
He's doing the same thing other generic manufacturers have done for about a decade now. Colcrys, anyone?
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Hopefully something will actually be done about it this time around
 
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Jbrl said:
I'm agreeing with you: there is no reason for him to act in any other way. Hence, not much else you can expect. This is what hedge fund managers are paid to do. What rubs people the wrong way is his brazen temperament. Shorting stocks isn't wrong. However, market manipulation toes the fine line, evidenced when he thwarted approval bids for pharma drugs while actively taking a short sell position on them. An ethics issue, not a legal one

I don't know if you're playing devil's advocate, but the patient DOES come into play, and it's in no way 'purely' financial. If you believed this you wouldn't be in healthcare, no? Shareholders are only one of the many stakeholders

Hopefully something will actually be done about it this time around
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A little bit of devil's advocate, but I'm very much in the camp that divorces financial considerations from patient care. If society values a specific course of treatment enough, then the price will reach an equilibrium equal to the value placed upon it.

Actors like Shkreli are brazen and his actions cold/calculated, but he's not a dictator, nor should prices be dictated by anyone else (benevolent Obama or not, for example). There are other stakeholders with their own interest at stake (PBM's, etc...) that are already going forward with alternatives (the Imipris compound, for example). Ultimately the other stakeholders (taxpayers) can demand changes to patent laws or profit caps (like the 80% ACA mandate for insurance companies).

So, we can be mad at this little twit, or we can sit back and let the market pop his bubble.
 
Doxycycline hycalate, digoxin, clobetasol, ketoconazole, glimepiride, cochicine, tetracycline, Ofirmev, cycloserine, Vimovo, amitriptyline, captopril

There is a sick problem in America. This fuc*ing country is a piece of sh**. We need a single payer health care system. We need real universal health care. We need real regulation. How do people not realize this yet?
 
farmadiazepine said:
There is a sick problem in America. This fuc*ing country is a piece of sh**. We need a single payer health care system. We need real universal health care. We need real regulation. How do people not realize this yet?
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Sure, let's throw more tax money at it, that'll solve everything.
 
confettiflyer said:
Sure, let's throw more tax money at it, that'll solve everything.
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Throwing more tax money at it would literally solve the problem. When there is only one payer, guess who has all of the bargaining power?
 
WVUPharm2007 said:
Throwing more tax money at it would literally solve the problem. When there is only one payer, guess who has all of the bargaining power?
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If that worked, other countries would do it and pay less for the expensive drugs.
 
If we threw as much money into providing free healthcare and free education by taking away money that we throw at the military and military r&d, we'd be in a much better position. We do not need to have the best military in the world. No one is gonna invade us. Terrorists attack us in small incidents such as the California shooting, whatever, **** happens, no need to launch a war over it. No need to militarily interfere in world affairs. We already have more than enough nukes to glass the planet.
 
Sparda29 said:
We do not need to have the best military in the world.
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Famous last words.

No one is gonna invade us.
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No, but having a weak military prevents advancement of American interests abroad. NATO only really functions because the U.S. is in it. Our privileged position in the world (reserve currency/commodities priced in dollars, etc...) only exists because we have the aircraft carriers and bombs to back it up.

Terrorists attack us in small incidents such as the California shooting, whatever, **** happens, no need to launch a war over it. No need to militarily interfere in world affairs. We already have more than enough nukes to glass the planet.
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Yeah who cares about terrorists... big picture here is keeping state actors like Russia and China from taking over our role as world superpower. Do you really think either of those countries will just stand back and not take advantage when President Sparda29 dismantles the armed services?

Go big or go home.
 
Sparda29 said:
If we threw as much money into providing free healthcare and free education by taking away money that we throw at the military and military r&d, we'd be in a much better position. We do not need to have the best military in the world. No one is gonna invade us. Terrorists attack us in small incidents such as the California shooting, whatever, **** happens, no need to launch a war over it. No need to militarily interfere in world affairs. We already have more than enough nukes to glass the planet.
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You are completely right. U.S. priorities are f*cked up. We have some of the dumbest kids on the planet, a shi**y health care system, and our current concern is banning Muslims from immigrating to a country founded by immigrants, and creating a Muslim registry, which is completely illegal. Things need to get fixed.
 
confettiflyer said:
Famous last words.



No, but having a weak military prevents advancement of American interests abroad. NATO only really functions because the U.S. is in it. Our privileged position in the world (reserve currency/commodities priced in dollars, etc...) only exists because we have the aircraft carriers and bombs to back it up.



Yeah who cares about terrorists... big picture here is keeping state actors like Russia and China from taking over our role as world superpower. Do you really think either of those countries will just stand back and not take advantage when President Sparda29 dismantles the armed services?

Go big or go home.
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We shouldn't be using our military as a way of enforcing our interests (that's how wars happen). It should be strictly for prevention of invasion.

What do you think this whole mess in Syria is really about? Qatar wanted a pipeline through Saudi Arabia thru Syria to Turkey for its European customers. Instead Assad went with the Iran-Iraq-Syria pipeline. Assad's rationale for rejecting the Qatar proposal was to protect the interests of its Russian ally who are the top suppliers of natural gas in Europe. When this happened, the Saudis and Qataris started to ferment unrest in Syria. Assad responded by crushing the protests. Yes, he's a brutal dictator but he's better than what would replace him.

I don't get we're allies with Saudi Arabia who are the top supporters of ISIS and Al-Qaeda, specifically via exportation of their Wahhabi ideology. We're better off being friends with Iran. We're infinitely better off by not supporting Israel.
 
zelman said:
If that worked, other countries would do it and pay less for the expensive drugs.
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Yeah, about that...from yesterday's news:
Roche Holding AG failed to win the endorsement of the U.K.’s health-cost regulator for its breast-cancer medicine Kadcyla, capping two years of haggling over the cost of the treatment.

In final guidance to the state-run health system, the National Institute for Health and Care Excellence said the Roche drug is too expensive at about 90,000 pounds ($136,300) per patient. The decision not to fund Kadcyla comes after consultations with patient groups and doctors as well as representatives of the Basel, Switzerland-based company, starting in December 2013.

Roche said Wednesday that it’s willing to offer a bigger discount so that the 1,200 Britons estimated to be eligible for Kadcyla could receive it through the National Health Service. The NHS relies on the regulator known as NICE to help determine which therapies offer good value for money. The world’s biggest cancer-drug maker, under pressure to lower the cost of the drug, had proposed a discount, but it wasn’t big enough, NICE said Wednesday in a statement.

http://www.bloomberg.com/news/artic...ils-to-win-breast-cancer-drug-backing-in-u-k-
 
297point1 said:
Yeah, about that...from yesterday's news:
Roche Holding AG failed to win the endorsement of the U.K.’s health-cost regulator for its breast-cancer medicine Kadcyla, capping two years of haggling over the cost of the treatment.

In final guidance to the state-run health system, the National Institute for Health and Care Excellence said the Roche drug is too expensive at about 90,000 pounds ($136,300) per patient. The decision not to fund Kadcyla comes after consultations with patient groups and doctors as well as representatives of the Basel, Switzerland-based company, starting in December 2013.

Roche said Wednesday that it’s willing to offer a bigger discount so that the 1,200 Britons estimated to be eligible for Kadcyla could receive it through the National Health Service. The NHS relies on the regulator known as NICE to help determine which therapies offer good value for money. The world’s biggest cancer-drug maker, under pressure to lower the cost of the drug, had proposed a discount, but it wasn’t big enough, NICE said Wednesday in a statement.

http://www.bloomberg.com/news/artic...ils-to-win-breast-cancer-drug-backing-in-u-k-
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I just can't see the US actually saying no. They would at first, but then there would be some big outrage about how mean old Obama won't approve a treatment for this poor patient, and then it would be approved. Then we'd be in a worse case, because then there would be zero negotiating power.
 
Martin Shkreli, Pharma Executive, Arrested on Fraud Charges

http://www.wsj.com/articles/martin-shkreli-arrested-on-fraud-charges-1450359637

"Pharmaceutical executive Martin Shkreli—who gained notoriety earlier this year for significantly raising prices on drugs—was arrested on charges of securities and wire fraud based on his former work at a hedge fund.

Agents from the Federal Bureau of Investigation took the 32-year-old Mr. Shkreli into custody Thursday, according to a person familiar with the matter."
 
confettiflyer said:
Martin Shkreli, Pharma Executive, Arrested on Fraud Charges

http://www.wsj.com/articles/martin-shkreli-arrested-on-fraud-charges-1450359637

"Pharmaceutical executive Martin Shkreli—who gained notoriety earlier this year for significantly raising prices on drugs—was arrested on charges of securities and wire fraud based on his former work at a hedge fund.

Agents from the Federal Bureau of Investigation took the 32-year-old Mr. Shkreli into custody Thursday, according to a person familiar with the matter."
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:soexcited: Karma FTW!
 
a4387.jpg
 
But seriously though, he's gonna post bail, get his legal team to draw this out for a few years, and it'll end in either a settlement or a plea bargain. At worst: house arrest, ankle monitor, and a fine paid for by Daraprim.
 
confettiflyer said:
But seriously though, he's gonna post bail, get his legal team to draw this out for a few years, and it'll end in either a settlement or a plea bargain. At worst: house arrest, ankle monitor, and a fine paid for by Daraprim.
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This is the Feds tho. They only come for you when they have you dead to rights. Look at Madoff or even Martha Stewart. Both went to jail.
 
Listen, he was arrested cause he hurt investors, not because he hurt patients.

When the 99% were hurt by him raising drug prices, nothing happened, all legal. Capitalism and healthcare clearly belong together hmm kay.

What got him arrested as deceiving the 1%. It's not us that matters, it's those w/money and lost some cause of him. Money doesn't talk. It shouts. And the government really gets the job done for with lotta $$, reality of the world.

Raise prices of old drugs 5000% and gouge everyone and steal their money? Meh no one in Washington is willing to tackle the issue.
Trick investors and take rich people's $$, well what're we waiting for? And the public will love us for going after unpopular people/organizations like FIFA. Other evil fat cats that are much worse but don't get attention or make public mad get away w/it.

Watch his live streams on youtube, total a**hole.
 
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NYT Now: What Happened When a Teenager Joined Martin Shkreli on a Live Stream

http://nyti.ms/1RUBImE

Mr. Shkreli: “Yeah, whatever. I’m trying to dominate the rap industry.”
 
He's the gift that keeps on giving...

‘Pharma bro’ Martin Shkreli responds to a subpoena with sarcastic tweets

The House Committee on Oversight and Government Reform confirmed Wednesday that it would hold a hearing next week focused on high drug prices, featuring Shkreli at the top of the roster.

The 32-year-old former hedge fund manager proceeded to respond in what might be the most Shkreli-possible manner: by tweet-taunting a member of Congress, calling the House efforts "whining" and comparing the hearing to "chit chat."

https://www.washingtonpost.com/news...sponding-to-a-subpoena-with-sarcastic-tweets/
 
so I'm sick and can't sleep, so while browsing the internet I come upon Martin Shkreli's twitter account.
https://twitter.com/MartinShkreli
My first thought was, this has to be a joke account, but its got a join date of June 2011, so maybe not...either way, this stuff is entertaining, he's going on about someone stealing 15 million dollars of bit coin from him, advertising for a new head of security, talking about how he plans to run for president in 2020....

as one quote says "Some Hooligan ‏@Some_Hooligan Feb 10
I canceled my boring netflix subscription and just watch @MartinShkreli streams now"

I keep thinking this has got to be a joke account....then again, I would think the same thing about Trump if I didn't already know he was scarily real.
 
Well,
Time for a bump.

http://www.pharmaskeletons.com/

I said it before and Martin Shkreli shows it.

People hate him...but I can't help but find his comments amusing

"
Just a reminder.

You: Washington Lobbyist piece of ****.

Me: A guy who has done R&D and started two drug companies. When you learn what a nitrogen atom is, you can talk about me.

USPTO 8673883

USPTO 9181286


Turing is a small company researching drugs for rare diseases that no one else wants to. All of your member companies, with a few humorous exceptions, have billions of dollars and don't need price increases. I'm sorry if my company's and patients' survival is inconvenient to your gigantic income streams.

Look in the mirror. This website took me half an hour to make, just 'membering a few moments from the past. Pharma is a wonderful industry that does great things, but trying to throw me under the bus is foolish. Let me remind you 90% of your members' CEOs could not hold a candle to me in scientific knowledge, achievements or wealth and entrepreneurial achievements.

90% of you are the same as you, Mr. Ubl, slick guys in suits who make a living spewing bull****. Also keep in mind that I took a very low or zero salary at all of my companies. Your CEOs enjoy the fat paychecks they receive from price increases. I put my money from price increases into research. Half of big pharma CEOs could not tell you the first thing about science. Maybe focus on changing that before you point at me and make false statements."
 
Perhaps he should come on here and show us how smart he is about nitrogen atoms.

The dude has built this comical facade around himself that he's this serious scientist that's curing disease when he's really just a dude that read a few papers on pubmed who is in over his head when in discussions with real drug experts. In reality he's just a common capitalist parasite that's trying to make money by being a patent troll.
 
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