Shkreli sentenced to 7 years

fountainhall
Posts: 1475
Joined: Fri Jan 27, 2017 11:45 am
Location: Bangkok
Liked: 128 times
Been liked: 369 times

#1 Shkreli sentenced to 7 years

Postby fountainhall » Sat Mar 10, 2018 3:48 pm

The good news and the bad. This miserable scumbag profiteer who took over Turing Pharmaceuticals in 2015 with borrowed money and then raised the price of Daraprim, a lifesaving drug used by some Aids patients, from $13.50 per pill to $750 has finally been jailed. The bad news is that it is only for 7 years. This despicable rat should have been sentenced to rot in jail for most of his life IMO.

https://www.theguardian.com/us-news/201 ... cing-fraud

User avatar
Gaybutton
Site Admin
Posts: 14806
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 563 times

#2 Re: Shkreli sentenced to 7 years

Postby Gaybutton » Sat Mar 10, 2018 4:10 pm

Maybe he can share a cell with Bernie Madoff.

The original $13.50 per pill in itself seems awfully expensive. How often did patients have to take that pill? And what is the current price of the pill?

fountainhall
Posts: 1475
Joined: Fri Jan 27, 2017 11:45 am
Location: Bangkok
Liked: 128 times
Been liked: 369 times

#3 Re: Shkreli sentenced to 7 years

Postby fountainhall » Sat Mar 10, 2018 4:26 pm

From that Guardian article -

Outside the US, Daraprim is cheap: it costs $1 to $2 a pill. Patients take two or three pills a day and need treatment for weeks or months. The price in the US was already far higher ($13.50) when Shkreli bought the company in 2015, but overnight Turing hiked the price of Daraprim to $750, a fiftyfold increase. The story became a media sensation and Shkreli became “the most hated man in America”.

User avatar
Gaybutton
Site Admin
Posts: 14806
Joined: Sat Jul 31, 2010 11:21 am
Location: Thailand
Liked: 1 time
Been liked: 563 times

#4 Re: Shkreli sentenced to 7 years

Postby Gaybutton » Sat Mar 10, 2018 4:36 pm

fountainhall wrote:Patients take two or three pills a day and need treatment for weeks or months.

This guy was expecting patients to spend US $1500 to $2250 per day? Where was he expecting people to get that kind of money? $27 to $40 per day is more than many could afford in the first place.

And yet the very same medication is available outside the USA for $1 or $2 per pill? Why does the word "ripoff" come to mind?

If anyone died as a result of being unable to afford the pills, then too bad stronger charges apparently couldn't be brought against him.

User avatar
windwalker
Posts: 1256
Joined: Mon Aug 23, 2010 7:59 am
Liked: 156 times
Been liked: 53 times

#5 Re: Shkreli sentenced to 7 years

Postby windwalker » Sun Mar 11, 2018 12:54 am

In reality his sentence and trial had nothing to do with raising the price of the drugs. Rather he was sentenced for deceiving investors regarding hedge funds.
Unfortunate he was given such a light sentence.

User avatar
thaiworthy
Posts: 1320
Joined: Sat Nov 20, 2010 12:46 pm
Location: Bang Na, Bangkok
Liked: 54 times
Been liked: 129 times

#6 Re: Shkreli sentenced to 7 years

Postby thaiworthy » Sun Mar 11, 2018 8:34 am

windwalker wrote:he was sentenced for deceiving investors regarding hedge funds.
Unfortunate he was given such a light sentence.

Not unlike Al Capone being jailed for income tax evasion after a life of crime.
"Don't sweat the petty things and don't pet the sweaty things." --George Carlin


Return to “Everything Else”

Who is online

Users browsing this forum: No registered users and 33 guests