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Post Reply HIV Pill price raised by 5000%
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22 / M / New York
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Posted 9/22/15 , edited 9/23/15
The HIV medication, that we've had for the last 50-60 years, was usually around a set price of $13.50. Yesterday, Martin Shkreli, a 32-year old CEO of Turing Pharmaceuticals raised the price to $750. I'm talking each single pill, that would be $750 a pop.

That's around a 5000%~ increase.

$13.50 a pill to $750.00 a pill in just one evening.

Some people are calling him "the most hated man in America" today. His reasoning and statements are in the link below:

http://money.cnn.com/2015/09/22/investing/aids-drug-martin-shkreli-750-cancer-drug/index.html

EDIT: It seems the outrage has gotten to Martin. He's claiming to "possibly lower" the price from $750, but it's going to do absolutely no justice. Even the experts in this field say it was unjustifiable. Article to this below:

http://www.thedailybeast.com/articles/2015/09/23/martin-shkreli-lowers-drug-price-is-still-an-asshole.html
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24 / M / USA
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Posted 9/22/15 , edited 9/22/15
...



Get the pitch forks.

Because of the Affordable Care Act, Medicare is not able to negotiate lower pharmaceutical drug prices.

Oh nice. That's working out well.
Posted 9/22/15
Anything for profit eh.
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Rabbit Horse
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Posted 9/22/15 , edited 12/18/15
i remember reading that, with the new price the annual cost would be between 300k and 700k us dollars for those who need the medication.
an average engineer / decent profession earns about 50k - 70k a year.

"I don't know what to call [Martin] now. I was thinking of 'monster', but I don't want to insult the cards." - Yami Yugi
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Posted 9/22/15 , edited 9/22/15
The backlash will result in substantial new regulation of the drug companies.
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17 / F
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Posted 9/22/15
I didn't find any reasons as to why he increased the price, that link talks more about his life and childhood than anything else. He has yellow teeth and a creepy smile, I hate him already

All I got from that article is that he was fired before because of "poor management skills" and wants to be a millionaire. It seems that playing with people's health and robing them the right to have affordable medicine is the way to become a millionaire. What's going on America??
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Posted 9/22/15 , edited 9/22/15

yuummmmy wrote:

I didn't find any reasons as to why he increased the price, that link talks more about his life and childhood than anything else. He has yellow teeth and a creepy smile, I hate him already

All I got from that article is that he was fired before because of "poor management skills" and wants to be a millionaire. It seems that playing with people's health and robing them the right to have affordable medicine is the way to become a millionaire. What's going on America??

Because a person who's life hangs in the balance will pay any price.

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23 / Rainbow Factory
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Posted 9/22/15
My hope for good things tells me to think this is an intelligent man, committing social suicide to close loopholes.

I know that's just a pipedream though...
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23 / M / AZ
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Posted 9/22/15 , edited 9/22/15
Capitalism at its finest
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23 / M
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Posted 9/22/15
It's such a disgrace.

Anyone who knows someone or has this themselves is going to be in such a problem.

I hope they find another solution :/
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22 / M / England
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Posted 9/22/15
Well that's one way to commit mass murder without picking up a gun.
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18 / F / Croatia
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Posted 9/22/15 , edited 9/22/15

HuastecoOtaku wrote:

Capitalism at its finest


Took the words right out of my mouth.
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27 / F
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Posted 9/22/15
disappointment, He only see $$$ and not lives.
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Posted 9/22/15
So he wants to make more money off a pill that almost nobody can afford? Great logic, good thing he will be losing so much money that he will either have to drop the price or sell the company off. He's good at business apparently.
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27 / M
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Posted 9/22/15 , edited 9/22/15
That is disgusting. I understand wanting to make money, but doing so by taking full advantage of the fact that the need is great, the harm is great, and there is no other source is just immoral. This is extortion at this point, not business. The victims have no other alternative so there is no choice.

I can understand something like even $50 a pop, but $700+? Why not $1000+, then? It's arguably better for him to raise the prices by 2 or 3 times only. More people will be able to afford the pill without suspecting that he is doing this purely for profit. What kind of businessman is he if he doesn't care about what his customers think? Sure, he might profit in the short term, but this guy is pretty much done for doing this now. Being likable and trustworthy is very much a part of successfully doing business in the long term.

Such a case will probably force new regulations that prevent this. I don't see how the governing bodies will allow this to continue in the long run. The backlash will be far too great for them to handle.
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