More than four years after Martin Shkreli incensed Americans by raising the price of a life-saving medicine by more than 4,000%, the Federal Trade Commission and the New York attorney general sued the infamous “pharma bro” for trying to corner the market for such drugs.
The joint action accused Shkreli and Vyera Pharmaceuticals, which was formerly known as Turing Pharmaceuticals, of scheming to “illegally” prevent would-be generic competitors from selling a version of Daraprim. Shortly after purchasing the decades-old drug, which is the only drug approved in the U.S. to treat a serious parasite infection that afflicts people with HIV, the list price was raised from $17.50 to $750 per tablet.
The lawsuit argued that Shkreli and Vyera knew the price hike would attract generic rivals, so they used various means to block lower-cost alternatives from coming to market. One method involved distribution agreements that ensured generic companies could not buy samples of Daraprim that would be needed for testing required for regulatory approval from the Food and Drug Administration.
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Wonderful lesson being taught by Mr. Shkreli, in the same vein as President Trump. He’s simply doing what pharma companies do on a grand scale and pointing it out for the world to see.
Mr shkreli is a registered democrat and show typical wealthy liberal behaviour.
Nothing to do with Trump but clearly you suffer from TDS as well
Anthony doesn’t understand how this works yet:
Sometimes it takes the right man for the right place at the right time. President Trump is one of those men.
Shkreli provides a similarly wonderful lesson. He’s not allowed to play in the pharmaceutical playground because he’s an outsider.
Both are serving their purpose amazingly well.
It’s human nature. They think a lawsuit can stop “it”? The whole industry:
— many of the execs —
— many of the hedge funds —
— some in the FDA —
— the corrupt lawyers who handle class action lawsuits —
— the overworked and arrogant courts that then give these companies slaps on the wrist for lying and investors nothing —
.. is in on multiple layers of scams and manipulation.
Stupid.
And in this case, fwiw, they did actually fund new research in the area.
If memory serves, I have asked whatever happened to the promise of price reductions for Daraprim.
It would seem there is an answer – sadly, nothing. Not unexpected but still …. sad.