Community Chat

[NoelSeven]

Ex-hedge funder buys rights to AIDS drug and raises price from $13.50 to $750 per pill

The local TV news said this morning that it's also used to treat cancer, and another report says it's also used for treating AIDS.  Apparently, this is happening more and more often.  This is not right.

"Daraprim is used for treating toxoplasmosis — an opportunistic parasitic infection that can cause serious or even life-threatening problems in babies and for people with compromised immune systems like AIDS patients and certain cancer patients — that sold for slightly over $1 a tablet several years ago.  Prices have increased as the rights to the drug have been passed from one pharmaceutical company to the next, but nothing like the almost 5,500 percent increase since Shkreli acquired it."

References:

http://www.nytimes.com/2015/09/21/business/a-huge-overnight-increase-in-a-drugs-price-raises-protest...

http://www.rawstory.com/2015/09/ex-hedge-funder-buys-rights-aids-drug-and-raises-price-from-13-50-to...

[151949]

This is happening more and more in the USA. Probably could still buy it in canada for less though. These millionaires don't get uber rich by being ethical and moral most of the time.

[chrystaltree]

I don't think it's morally right.  But it's legal.  And it's new, this is what happens in the pharmaceutical world.  The company wants to maximize it's profits on the drug.  This is making news only because of the ridiculously high increase. 

[NoelSeven]

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@151949 wrote:

This is happening more and more in the USA. Probably could still buy it in canada for less though. These millionaires don't get uber rich by being ethical and moral most of the time.

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We sure agree here!  It's a young ex hedge-funder, photo here:

http://www.rawstory.com/2015/09/ex-hedge-funder-buys-rights-aids-drug-and-raises-price-from-13-50-to...

This is happening more and more often with the very young, newly uber rich.  Morals seem to be absent much of the time.

[Mominohio]

I'm sure I'll take a hit for this but there are two things going on here (well three if you include just plain greed).

The cost to develop these drugs, treatments and cures is so huge, and the money has to be made somewhere. Not that I condone this kind of thing, just stating that it happens.

The longer I live, the more I wonder if those who say that "there will not be enough money in a cure, therefore we don't get them" aren't so wrong.  The money is in the drugs and treatments. If we make it go away, so goes the money to be made from it. Just a thought.

[NoelSeven]

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@chrystaltree wrote:

I don't think it's morally right.  But it's legal.  And it's new, this is what happens in the pharmaceutical world.  The company wants to maximize it's profits on the drug.  This is making news only because of the ridiculously high increase. 

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Hi, I'm not sure what you were referring to when you said it's new.  The drug isn't new, but evidently this practice is new

[Q4u]

This is so not right.... and even at the expensive new price, you'll find that the only mass trials are on the public, so that in a few years (as often happens) they find that the drug causes horrible side effects they had no idea would happen......

Meanwhile, they've made their billions before this happens...... 

[NoelSeven]

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@Mominohio wrote:

I'm sure I'll take a hit for this but there are two things going on here (well three if you include just plain greed).

The cost to develop these drugs, treatments and cures is so huge, and the money has to be made somewhere. Not that I condone this kind of thing, just stating that it happens.

The longer I live, the more I wonder if those who say that "there will not be enough money in a cure, therefore we don't get them" aren't so wrong.  The money is in the drugs and treatments. If we make it go away, so goes the money to be made from it. Just a thought.

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He didn't develop the drug, it has been in use for 60 years.

I've read where this is the new thing: buy an old trusted drug, NOT a new one, and raise the price dramatically.

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[NoelSeven]

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@Q4u wrote:

This is so not right.... and even at the expensive new price, you'll find that the only mass trials are on the public, so that in a few years (as often happens) they find that the drug causes horrible side effects they had no idea would happen......

Meanwhile, they've made their billions before this happens...... 

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Q4U,

It's a 60 year old drug, all side effects would be known, I would hope.

Since it's effective and apparently safe, this guy will make a lot of money off of people who need it to survive.

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[gardensla]

One can only hope that there's a special circle of hell reserved for him and those who put profit over all else.