Shkreli sentenced to 7 years

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fountainhall

Shkreli sentenced to 7 years

Post by fountainhall »

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
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Gaybutton
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Re: Shkreli sentenced to 7 years

Post by Gaybutton »

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

Re: Shkreli sentenced to 7 years

Post by fountainhall »

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”.
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Re: Shkreli sentenced to 7 years

Post by Gaybutton »

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.
windwalker

Re: Shkreli sentenced to 7 years

Post by windwalker »

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.
thaiworthy

Re: Shkreli sentenced to 7 years

Post by thaiworthy »

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.
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