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re: Turing Pharma still selling AIDS med @750$/pill, but has new competition@1$/pill
Posted on 10/23/15 at 12:43 pm to ChatRabbit77
Posted on 10/23/15 at 12:43 pm to ChatRabbit77
quote:
. This also provides incentive for a cheaper drug. What he did wasn't necessarily "wrong".
You're an arse. Complete and total arse.
1
Posted on 10/23/15 at 12:45 pm to ChatRabbit77
The Fed will find a way to make the 1$ med unavailable or not meet some required cryptic requirement for distribution.
Posted on 10/23/15 at 12:47 pm to Purple Spoon
quote:
The FDA
The Fed doesn't regulate anything but monetary policy baw.
Posted on 10/23/15 at 12:54 pm to TGFN57
quote:
You're an arse. Complete and total arse.
You sound like a person on my FB feed that said "we dont need a business man for president, we need someone with a heart" (obviously in support of Bernie). Sounds like you don't understand economics. What I said is the cruel nature of business.
Posted on 10/23/15 at 1:01 pm to NYNolaguy1
quote:
Investors applauded the move, driving Imprimis shares (IMMY) up 7% to $6.41 in early trading Friday.
Somebody liked the move
Those investors drove it up from $5.97 to a whopping $6.41!?????
Posted on 10/23/15 at 1:06 pm to ChatRabbit77
quote:
How? The drug was toxic and had been around for a while. More profits is more money towards research. Kinda nuts how people don't understand the concept of making money. He bought the company and had every right to raise prices. Simple as that. These drug companies simply cannot make money at how much it costs to make a drug. People who hate Skhreli are the same people who go out and buy Iphones but don't care that they are made in shitty factories in bad conditions at high profit margins. No one complains about Tim Cook.
Sure, he had the right to raise prices, but doing it in a way that invited another entrant was pretty dumb.
Your other points about drug companies are just a regurgitation of what big pharma wants you to believe. Why don't you look at the marketing budgets of a pharmaceutical company in comparison to R&D.
We understand business just fine.
Posted on 10/23/15 at 1:09 pm to ChatRabbit77
quote:
The anti-Shkreli circlejerk is kinda annoying. He raised the price of a drug because drug companies already operate on a loss. This was to fund more research for a better drug. This also provides incentive for a cheaper drug. What he did wasn't necessarily "wrong".
100% this.
The knee jerk reaction was typical.
The real-life situation could be way different.
Wait to see if IMMY gets on the formulary lists.
Posted on 10/23/15 at 1:19 pm to CajunAlum Tiger Fan
quote:
Why don't you look at the marketing budgets of a pharmaceutical company in comparison to R&D.
I would think this is justified. There is a rush to market a product that faces patent cliffs. Once the patent expires it's free game for anybody to produce a generic version.
Posted on 10/23/15 at 1:25 pm to NYNolaguy1
quote:
Shkreli
Has absolutely no clue what he's doing.
Posted on 10/23/15 at 1:25 pm to NYNolaguy1
In his defense, the CEO that raised the price said that doing so would make other companies interested in making alternatives to this drug and even spur research into other areas of needs in that market. He was 100% correct apparently.
Posted on 10/23/15 at 1:35 pm to supadave3
That reminds me of the rumor that a 100 mpg carburetor was bought and shelved by an oil company back in the 80's. I seriously doubt its true but then again you never really know.
quote:
Over the years, I've heard several people say that they believe there is already a cure for things like cancer and aids, but that the money is in the treatment and not the cure so these drugs never see the light of day. I think that's total horseshite,because I don't think people/companies are that evil, plus a hell of a lot of money could be made off the cure too. People believe some outrageous shite.
Posted on 10/23/15 at 2:27 pm to ChatRabbit77
quote:
You sound like a person on my FB feed that said "we dont need a business man for president, we need someone with a heart" (obviously in support of Bernie). Sounds like you don't understand economics. What I said is the cruel nature of business.
I get what you're saying, but Shkreli is an a-hole. He is. Does that make him a bad CEO? Not necessarily. Losing $55 million because you tried to price gouge your customers? That's a bad CEO.
He tried to jack up the price and got undercut by getting too greedy. He deserves everything that is coming to him.
It's almost like you are defending him and assuming this price gouging scheme he has is a good idea. All its going to do is raise competition, the exact point of a free market economy.
Posted on 10/23/15 at 2:37 pm to NYNolaguy1
The story is a little more complicated than some of y'all think. The new company's version of the drug is not FDA-approved. The only reason they can do this is that they will compound the drug custom-made for each person who uses it instead of mass-manufacturing the pills. The FDA has traditionally looked the other way for cases like this because of the low volume that is usually involved.
Posted on 10/23/15 at 2:44 pm to NYNolaguy1
Shkreli has his own hedge fund
Gouges prices
Hillary announces plans to regulate
Pharmaceutical market plummets on news of regulation
Skreli and friends short the market all the way down with their hedge fund money
He never planned to make money on his drug company, it was just a tool to manipulate the market, and for that I think he's a genius
Gouges prices
Hillary announces plans to regulate
Pharmaceutical market plummets on news of regulation
Skreli and friends short the market all the way down with their hedge fund money
He never planned to make money on his drug company, it was just a tool to manipulate the market, and for that I think he's a genius
Posted on 10/23/15 at 3:13 pm to wutangfinancial
quote:
If only people could realize that this is the perfect example why regulating drug prices is unnecessary. Another example is the pricing war between viekira pak and harvoni. The competition has already put pressure on GILD to lower prices. But maybe that's just me
Too bad Viekira Pak has been killing people...
Posted on 10/23/15 at 3:47 pm to wutangfinancial
Actually he won't lose any money. From Reddit.
quote:
Not a chance. Turing was probably making a little profit at 13.50 per pill. They only have to sell 2% of what they used to sell to make the same amount of money at the $750 price. This competitor is a compounded drug, which means it can only be made and sold to individuals with a prescription. So they cant make the drug, ship it around the country and let it sit on shelves until someone buys it. Turing can. So unfortunately Turing will be losing no money and laughing all the way to the bank.
This post was edited on 10/23/15 at 3:48 pm
Posted on 10/23/15 at 4:06 pm to ChatRabbit77
quote:
The anti-Shkreli circlejerk is kinda annoying. He raised the price of a drug because drug companies already operate on a loss. This was to fund more research for a better drug. This also provides incentive for a cheaper drug. What he did wasn't necessarily "wrong".
i dont believe that. can you source it?
Posted on 10/23/15 at 4:13 pm to sullivanct19a
quote:
i dont believe that. can you source it?
He talked about it in one of the hit-job knee jerk interviews he did back in the firestorm days after he raised the price.
Probably search Diane Sawyer or something... you'll find it.
Posted on 10/23/15 at 4:15 pm to NYNolaguy1
Love it. Anything to crush the biotech bubble.
LABD all the way to the bank.
LABD all the way to the bank.
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