1. Post #1

    February 2005
    1,961 Posts


    Turing Pharmaceuticals AG will not reverse its decision to raise the price of a decades-old drug, Daraprim, by more than 5,000 percent, backing out of previous statements that it would cut the cost by the end of the year.

    In an announcement on Tuesday, the company said that the list price of Daraprim, which jumped from $13.50 a pill to $750 a pill earlier this year, will not change. Instead, the company will offer hospitals up to 50 percent discounts and will make other adjustments to help patients afford Daraprim, a drug used to treat a parasitic infection and often given to HIV patients.
    Source
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  2. Post #2
    Dennab
    April 2011
    5,827 Posts
    Not that it's an issue, didn't a rival pharma company already make a generic?
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  3. Post #3
    STOP
    HAVING
    FUN

    OR ELSE I'M LEAVING
    FunnyStarRunner's Avatar
    January 2010
    7,577 Posts
    I thought pharmaceutical companies were supposed to help people, not hurt them.
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  4. Post #4
    Dennab
    March 2005
    2,099 Posts
    I thought pharmaceutical companies were supposed to help people, not hurt them.
    They're companies just like any other, they're after the big bucks even if they have to fuck over people to get it.

    Why do we not have government price controls on medication?
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  5. Post #5
    Absolute tosser, manchild, and belligerent douche-nozzle.
    download's Avatar
    July 2006
    11,232 Posts
    Not that it's an issue, didn't a rival pharma company already make a generic?
    When the competition is charge $750 a pill that's easily done.

  6. Post #6
    "Lying rich greedy cunt revealed to be lying, still greedy."

    I thought I'd go through life firmly set in mind that I'd never be a cannibal. But here I am, finding a man that I would, in fact, eat.


    Not kill, mind you. Nobody is making threats here, no sir, haha
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  7. Post #7
    Gold Member
    MrJazzy's Avatar
    June 2009
    17,413 Posts
    I thought pharmaceutical companies were supposed to help people, not hurt them.
    You're right, but that's the risk you run when you have privatized sectors that are responsible for the lives of people.
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  8. Post #8
    Don't Worry, I'm a Marine
    UncleJimmema's Avatar
    October 2005
    4,451 Posts
    This is old news. Another company came out and said they're going to offer the drug for $7.50 anyway, not to mention since they inflated the price of said drug they've been bleeding losing money by the millions.
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  9. Post #9
    Dennab
    July 2010
    6,113 Posts
    They're companies just like any other, they're after the big bucks even if they have to fuck over people to get it.

    Why do we not have government price controls on medication?
    It's government intervention that has created this issue in the first place. Turing Pharma is allowed, by the government, to maintain a monopoly on that kind of drug and prevent competitors from producing generic equivalents. Another company has announced they will be making an equivalent, sold for a hundredth of the price - so that's the market doing what it's supposed to do, but that company is not allowed to market their product as a generic. Thanks to the government.
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  10. Post #10
    Gold Member
    Karmah's Avatar
    December 2007
    6,837 Posts
    Didn't they lose a lot of money already as it is?

  11. Post #11
    Dennab
    July 2010
    6,113 Posts
    This is old news. Another company came out and said they're going to offer the drug for $7.50 anyway, not to mention since they inflated the price of said drug they've been bleeding losing money by the millions.
    Turing Pharma was already running a bigger loss in the quarter preceding when they bought the rights to the drug. It's a drug that is rarely used, so it wouldn't have dented their income by too much even if no user bought the drug.

  12. Post #12
    Mark9013100's Avatar
    June 2013
    449 Posts
    What a smug arrogant cunt.
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  13. Post #13
    Gold Member
    Boaraes's Avatar
    October 2011
    2,240 Posts
    "Lying rich greedy cunt revealed to be lying, still greedy."

    I thought I'd go through life firmly set in mind that I'd never be a cannibal. But here I am, finding a man that I would, in fact, eat.


    Not kill, mind you. Nobody is making threats here, no sir, haha
    what the fuck?

    dude's a cunt, sure, but admitting you would like to cannibalize him is just weird as hell.
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  14. Post #14
    Spirit Guide
    Big Dumb American's Avatar
    March 2009
    24,000 Posts
    what the fuck?

    dude's a cunt, sure, but admitting you would like to cannibalize him is just weird as hell.
    I dunno, man. I could get behind a plate of Shkrelli. You'd have to season him pretty heavily to mask the taste of greasy weasel cunt, though.
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  15. Post #15
    Gold Member
    Boaraes's Avatar
    October 2011
    2,240 Posts
    I dunno, man. I could get behind a plate of Shkrelli. You'd have to season him pretty heavily to mask the taste of greasy weasel cunt, though.
    gross
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  16. Post #16
    Gold Member
    zombini's Avatar
    November 2010
    4,458 Posts
    They're companies just like any other, they're after the big bucks even if they have to fuck over people to get it.

    Why do we not have government price controls on medication?
    Lucky for us, we're probably the only country in the world with regulations preventing us from regulating pharm prices. It's illegal for a federal agency to set any kind of price controls on any pharmaceutical, regardless of where it comes from or what it is. No wonder people near the Canada border regularly go over the border to get medicine from Canadian pharmacies, which is illegal as well but rarely enforced.

    It's sad, the official reasoning as to why getting medicine from other countries is illegal, is because of "public health and safety." There's a huge issue when some people have the choice of either going bankrupt, dying of a horrible disease that could be treated, or becoming a minor criminal for getting medicine over the border to avoid the first two options.

  17. Post #17
    Toro's Avatar
    May 2013
    1,973 Posts
    Didn't they lose a lot of money already as it is?
    They made 5.2 million dollars last quarter, 14 million dollars below operating costs.

    Is Turing a public company?

  18. Post #18
    dai
     
    dai's Avatar
    February 2006
    30,273 Posts
    given the whole "they lost a lot of money on it" deal surrounding this, I wouldn't be surprised if they realized they couldn't compete with the generic competitor at that point and counted it as a loss, so he decided to do this as a big childish last laugh

  19. Post #19
    Gold Member
    DOG-GY's Avatar
    June 2009
    15,638 Posts
    Charging for medical care is evil beyond my comprehension but of course these kinds of people don't mind condemning others to pain or death :(

  20. Post #20
    Dennab
    March 2005
    2,099 Posts
    It's government intervention that has created this issue in the first place. Turing Pharma is allowed, by the government, to maintain a monopoly on that kind of drug and prevent competitors from producing generic equivalents. Another company has announced they will be making an equivalent, sold for a hundredth of the price - so that's the market doing what it's supposed to do, but that company is not allowed to market their product as a generic. Thanks to the government.
    That's cool and all but has nothing to do with my question, which was about price controls. If these were in place none of what you said would matter.

  21. Post #21
    Dennab
    July 2010
    6,113 Posts
    That's cool and all but has nothing to do with my question, which was about price controls. If these were in place none of what you said would matter.
    What you had proposed also wouldn't matter if the government allowed for competition. If there had always been a generic equivalent allowed to be marketed and sold, none of this would have ever happened. Turing Pharma wouldn't have raised the price, and probably wouldn't have even acquired the drug, because users would just move to using the cheaper generic equivalent.

    'Price controls' are always a bad idea. For instance, price ceilings create a perverse incentive for sellers to price the good right up to the ceiling and never go lower. They create the impression that the price ceiling is the highest socially acceptable price, which can also facilitate cartels forming; undermining the price competitiveness of the market.
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  22. Post #22
    Gold Member
    Mr. Someguy's Avatar
    March 2006
    25,211 Posts
    I thought pharmaceutical companies were supposed to help people, not hurt them.
    You thought wrong. They exist to make a profit, helping sick people is just a product of their business. But when you're competing with the Grim Reaper himself, you don't exactly need to keep prices low, you already have an upper hand.

  23. Post #23
    Gold Member
    Headhumpy's Avatar
    June 2005
    4,644 Posts
    It's government intervention that has created this issue in the first place. Turing Pharma is allowed, by the government, to maintain a monopoly on that kind of drug and prevent competitors from producing generic equivalents. Another company has announced they will be making an equivalent, sold for a hundredth of the price - so that's the market doing what it's supposed to do, but that company is not allowed to market their product as a generic. Thanks to the government.
    No, they bought the marketing rights to an old drug. For whatever reason no one has stepped up to make a generic, so they can charge whatever the hell they want. Turing is possibly exploiting some FDA loophole that allows them to restrict circulation of the drug so that other manufacturers can't get a hold of samples to prove bioequivalence. Either that or no one really cares to go through the process of generic approval because it's such a small market.

    Edited:

    given the whole "they lost a lot of money on it" deal surrounding this, I wouldn't be surprised if they realized they couldn't compete with the generic competitor at that point and counted it as a loss, so he decided to do this as a big childish last laugh
    They're a pharmaceutical startup. That they have any revenue stream at all is an added bonus.

  24. Post #24
    Dennab
    February 2014
    330 Posts
    Can someone kill this CEO cunt before he fucks up people even more
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  25. Post #25
    Dennab
    March 2005
    2,099 Posts
    What you had proposed also wouldn't matter if the government allowed for competition. If there had always been a generic equivalent allowed to be marketed and sold, none of this would have ever happened. Turing Pharma wouldn't have raised the price, and probably wouldn't have even acquired the drug, because users would just move to using the cheaper generic equivalent.

    'Price controls' are always a bad idea. For instance, price ceilings create a perverse incentive for sellers to price the good right up to the ceiling and never go lower. They create the impression that the price ceiling is the highest socially acceptable price, which can also facilitate cartels forming; undermining the price competitiveness of the market.
    Which then leads to my last question, why are all other basic services necessary for a society to exist (Police, Fire, etc) all government controlled but Healthcare is not? Fucking ridiculous.
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  26. Post #26
    what the fuck?

    dude's a cunt, sure, but admitting you would like to cannibalize him is just weird as hell.
    I didn't say I want to eat his flesh, but that it's something I could see myself doing if the event ever came about (once again no death threats haha).

    His own actions have reduced his value as a human that much in my eyes that food would be a more practical use for him than his current position in life.

    I dunno, man. I could get behind a plate of Shkrelli. You'd have to season him pretty heavily to mask the taste of greasy weasel cunt, though.
    I'd rather eat greasy weasel cunt than Shkrelli, but this isn't WTYO, heyooooo


    But, I mean, the phrase "eat the rich" came from somewhere, right?
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  27. Post #27
    diaoyudao shi ZHONGGUO de
    Disseminate's Avatar
    December 2007
    4,328 Posts
    Why do we not have government price controls on medication?
    Lobbying. When you let companies in a multi-billion dollar industry hire consultants to convince politicians to not regulate this sort of thing, this is the result. The pharmaceutical industry has spent a total of $3.2 billion on lobbying between 1998 and 2015 (source).
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  28. Post #28
    Gold Member
    InvaderNouga's Avatar
    April 2006
    4,521 Posts
    I didn't say I want to eat his flesh, but that it's something I could see myself doing if the event ever came about (once again no death threats haha).

    His own actions have reduced his value as a human that much in my eyes that food would be a more practical use for him than his current position in life.



    I'd rather eat greasy weasel cunt than Shkrelli, but this isn't WTYO, heyooooo


    But, I mean, the phrase "eat the rich" came from somewhere, right?
    Dude you're weird
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  29. Post #29
    Gold Member
    sgman91's Avatar
    July 2006
    10,904 Posts
    Which then leads to my last question, why are all other basic services necessary for a society to exist (Police, Fire, etc) all government controlled but Healthcare is not? Fucking ridiculous.
    By that logic we should nationalize the food industry, the housing industry, the water industry, the oil industry, the auto industry, etc. They're all necessary for our modern society to exist.

    Realistically most necessary things aren't provided by the government.

  30. Post #30
    Gold Member
    Jamsponge's Avatar
    October 2009
    7,361 Posts
    By that logic we should nationalize the food industry, the housing industry, the water industry, the oil industry, the auto industry, etc. They're all necessary for our modern society to exist.

    Realistically most necessary things aren't provided by the government.
    Except a plate of food doesn't require years of research and testing, and usually isn't required by one specific type of person with one specific condition. That pill (until the other company brought out the generic) was probably the only option for many people with HIV, and that's what's so scummy. If McDonald's suddenly started selling Big Macs for $750, people would just buy something else. People trying to get this drug don't have that choice.

    Edited:

    They're companies just like any other, they're after the big bucks even if they have to fuck over people to get it.

    Why do we not have government price controls on medication?
    Watch out Chairman Mao, that sounds like communism to me!

  31. Post #31
    Missy Q
    The golden's Avatar
    June 2005
    12,714 Posts
    Very few industries make such a blatant attempt at making absolute insanely maximum profits off of human death and suffering like pharma companies do.

    I have absolutely zero issues with the people who chair these companies being thrown in prison for the rest of their miserable lives. Or, better yet, just shoot them and throw them in a ditch in some remote countryside.

  32. Post #32
    "Lying rich greedy cunt revealed to be lying, still greedy."

    I thought I'd go through life firmly set in mind that I'd never be a cannibal. But here I am, finding a man that I would, in fact, eat.


    Not kill, mind you. Nobody is making threats here, no sir, haha
    i'm sitting at work fucking laughing out loud

    this is the weirdest post that has EVER been made on facepunch, what the fuck

    Edited:

    has anyone ever gone through life, consciously affirming that they wouldn't become a cannibal

    elixwhitetail you are fucked my friend, but you've made me laugh
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  33. Post #33
    Gold Member
    Sableye's Avatar
    October 2009
    22,318 Posts
    I do hope the public backlash is enough to get actual regulation on how you can set drug prices

  34. Post #34
    Gold Member
    Citrus705's Avatar
    June 2010
    2,405 Posts
    Its only a matter of time before this dickhead goes bankrupt and out of business

  35. Post #35
    Toro's Avatar
    May 2013
    1,973 Posts
    at this point if I was head of Turing, I'd probably just sell the rights for Daraprim and figure shit out from there
    Its only a matter of time before this dickhead goes bankrupt and out of business
    this dickheads company, Martin Shkreli is probably doing fine on his own right now.

  36. Post #36
    Gold Member
    mdeceiver79's Avatar
    March 2012
    7,847 Posts
    They're companies just like any other, they're after the big bucks even if they have to fuck over people to get it.

    Why do we not have government price controls on medication?
    The general consensus among economists arguing against price control is that it ends up with racketeering (where person buys at low price controlled price and resells at maximum price the consumer is willing to pay), inefficiency and lowers production.

    That theory (ie unproven) assumes a whole load of things which would take a deeper discussion but IMO are obsolete or founded on fantasy and a whole load of other things which I've listed like 3 times before in the past week.

    IMO the lack of regulation has, in this case, created racketeering (this cheeky cunt), inefficiency (a relatively cheap drug not being given to those who need it and can afford it) and potentially lowered production if less people want it/can afford it.

    To the people who blame patents and consequently the state: Try to imagine a world without patents. If you still blame patents and consequently the state, try again, harder this time till you see why it would be a bad thing.

       For those struggling with the world without patent scenario   
       inventor invests time and resources into an invention. A company copy it using their resources to instead mass produce it with a lower production cost per unit. The inventor can't afford to compete so is bankrupted. Patents were originally made to protect that inventor from such things happening, to protect and incentivise innovation.    

  37. Post #37
    Gold Member

    February 2010
    5,298 Posts
    i think people should stop overreacting at this guy. especially since there's already another company working on a cheaper generic. somehow i doubt the whole situation is as simple as this guy just being a super duper meanie head who should totally be brutally murdered because that's defs a healthy way to think about people.

  38. Post #38
    Gold Member
    Amber902's Avatar
    September 2008
    10,710 Posts
    i think people should stop overreacting at this guy. especially since there's already another company working on a cheaper generic. somehow i doubt the whole situation is as simple as this guy just being a super duper meanie head who should totally be brutally murdered because that's defs a healthy way to think about people.
    Except everything he's done since the decision paints him as a tremendous asshole smug cunt. He may not deserve to die, but he sure as hell isn't giving people reasons to like him.

  39. Post #39
    I am Zero's Fox

    February 2009
    2,532 Posts
    Is this the guy with the hilariously childish twitter feed? Like he has the complete mentality of a 12 year old you just owned you in CoD personality on there, it's fucking ridiculous, how did he become a CEO

    Edited:




    Yepp it is
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  40. Post #40
    Gold Member
    Amber902's Avatar
    September 2008
    10,710 Posts
    ^ case in point