We have found the worst human being on earth, Pharma Bro

[BigRedChief]

Former Wall street wunderkid now up on charges of inside trading.

Daraprim, which went from costing $13.50 per pill to $750 per pill when he tool over the company, is used to treat toxoplasmosis, a parasitic condition that can occur in pregnant women and people with the HIV virus.

[TigeRRUppeRRcut]

1) Do you guys even know how many people actually rely on Daraprim each year?

2) Do you understand how much it costs to manufacture a drug like Daraprim for the # of people in question 1, which hasn't even been patent protected for decades ?

3) Do you even realize that there are cancer drugs out there that only extend life expectancy by a few months yet cost over $50,000 to buy but somehow this guy is the only one treated like a crook?

The real sharks are Merck, GSK, Pfizer, Regeneron, Novartis, Abbvie, Roche, Genentech who are making hundreds of billions and are deep in the pockets of these congressmen trying to crucify this guy.

People on medicaid ("poor people") can get this drug readily as the price was already negotiated. It's Medicare that will have to pay the higher price and those under that insurance are still going to get their drug. Most people don't even use this drug for more than one year...

Why the media has been fixated on this guy is beyond me. His company only has 1 drug which is far from "Big Pharma"

[GloucesterChief]

Originally Posted by BigRedChief

Thats fine. It's the arrogance and smirking that is so much of who he is that upsets people....well that and he didn't care if people died if he didn't get more money part.............and then he threatened to destroy the only copy of a Wu Tang album out of spite. But, he is just misunderstood.

I would totally blow off the blowhards and scumballs in Congress as well. I bet they have more blood on their hands then he does.

[TigeRRUppeRRcut]

Originally Posted by GloucesterChief

I would take the 5th if I got called in front of Congress as well. Nothing good can come from talking to them. Just let them grandstand for the cameras and say nothing.

Reminds me of the House of Cards episode when Raymond Tusk pleads the fifth.

[NewChief]

Welcome to last year.

[NewChief]

And he, literally, says that he wants to be the "heel" of the human race. He has videos out there of him acting like a WWE heel and going off on people. It's really weird.

[sd4chiefs]

I think Trump has found his running mate.

[Gonzo]

***** big farma.

[ChiefAshhole1056]

He's a complete scumbag, but I will say he is going to be interesting to watch unfold going forward. He really is like a real-life super villain who was raised on WWE and just wants to be seen as the "bad guy"

[DaneMcCloud]

Originally Posted by Discuss Thrower

He's a smart guy that worked his way up from relatively nothing.

He got greedy. So what?

Discuss Troller

[KC native]

Originally Posted by Rain Man

Yeah, I'm not sure why a guy about to go to prison thinks it's funny. But whatever.

How did a guy like this end up rising to a high position anyway? I'm guessing he stabbed everybody around him in the back multiple times.

He conned people into giving him money.

He lied about his hedge fund results and used that to keep raising more money. He then used his position at the pharma company (which was more like a hedge fund that a real pharma company) to pay off people in his hedge fund which is why he will be going to prison.

[Discuss Thrower]

Originally Posted by DaneMcCloud

Discuss Troller

He did his due diligence concerning the value of biotech companies and made himself and his employers millions of dollars.

Shkreli is outwardly a prick but he's done nothing illegal as it pertains to jacking up the price of one medicine. Him getting brought before members of Congress today was a complete farce unless he's followed tomorrow by C-level executives of every American pharmaceutical company.

[KC native]

Originally Posted by Discuss Thrower

He's a smart guy that worked his way up from relatively nothing.

He got greedy. So what?

The guy was a con man.

He misled investors about his investment results to raise money for his hedge fund. He then committed securities fraud and embezzled money to pay off investors in his hedge fund. Then he used the position at the first pharma company to get the second one because he did all kinds of shitty things to the first company.

[Discuss Thrower]

Originally Posted by KC native

The guy was a con man.

He misled investors about his investment results to raise money for his hedge fund. He then committed securities fraud and embezzled money to pay off investors in his hedge fund. Then he used the position at the first pharma company to get the second one because he did all kinds of shitty things to the first company.

The uproar about Pharma Douche isn't about securities fraud though.

[KC native]

Originally Posted by Discuss Thrower

He did his due diligence concerning the value of biotech companies and made himself and his employers millions of dollars.

Shkreli is outwardly a prick but he's done nothing illegal as it pertains to jacking up the price of one medicine. Him getting brought before members of Congress today was a complete farce unless he's followed tomorrow by C-level executives of every American pharmaceutical company.

He isn't the first to do what he was doing. There are a few hedge funders who have bought/started pharma companies with the explicit purpose of buying old, popular drugs and dramatically hiking the price.

He's also under indictment for securities fraud.

[KC native]

http://www.bloomberg.com/features/20...urities-fraud/

Barely 23, he was managing hedge fund Elea Capital in New York and lost it all in 2007. Around then, a trade with Lehman Brothers ended with a $2.3 million judgment against him, prosecutors said. In 2010, he lost his clients’ $3 million investment in his new fund, MSMB Capital.

In 2011, he bet that shares of Orexigen Therapeutics Inc. would fall and wound up owing $7 million to his broker, Merrill Lynch, authorities said. He couldn’t pay, and he, an unnamed accomplice and MSMB Capital eventually extinguished the debt with a $1.35 million settlement, they said.

Part of that money came from his next firm, authorities said. After the collapse of MSMB Capital, Shkreli launched MSMB Healthcare with about $5 million from 13 investors. He paid himself “far in excess” of the agreed-upon 1 percent management fee and 20 percent profit incentive, according to the SEC.

Shkreli then used cash from MSMB Healthcare to invest in Retrophin, the pharmaceutical company he founded in 2011, even though it “had no products or assets,” prosecutors said. Later, he used the assets of Retrophin to repay angry investors in his hedge funds, prosecutors said.

.