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Turing’s Martin Shkreli regrets 5,000% price hike—says it wasn’t high enough
Posted on 12/5/15 at 11:17 am
Posted on 12/5/15 at 11:17 am
quote:LINK
In response to an audience member who asked him if he would have done anything differently in regard to raising the price of the drug, Daraprim, Shkreli replied, “I probably would have raised the price higher.”
That price hike, which brought a pill of Daraprim from $13.50 to $750 earlier this year, has drawn fiery scorn from the public, media, and lawmakers. Daraprim is a 62-year old drug used to treat toxoplasmosis, a disease caused by a parasitic infection. Toxoplasmosis often strikes people with compromised immune systems, such as AIDS patients.
During the 25-minute interview, Shkreli explained the price hike regret. “I could have raised it higher and made more profits for our shareholders, which is my primary duty,” he said.
Sometimes capitalism gets things wrong
This post was edited on 12/5/15 at 11:18 am
15
Posted on 12/5/15 at 11:19 am to steeltiger17
Obama gonna get us free daraprim
Posted on 12/5/15 at 11:20 am to steeltiger17
quote:
Sometimes capitalism gets things wrong
Didn't the price hike trigger the creation of a cheaper alternative?
Posted on 12/5/15 at 11:21 am to GRTiger
quote:
Didn't the price hike trigger the creation of a cheaper alternative?
it did
Posted on 12/5/15 at 11:22 am to steeltiger17
quote:
Sometimes capitalism gets things wrong
What did it get wrong?
Posted on 12/5/15 at 11:22 am to SPEEDY
Capitalism wins again? 
Posted on 12/5/15 at 11:22 am to steeltiger17
quote:From your link:
Sometimes capitalism gets things wrong
quote:somebody sees an opportunity and creates a product
Earlier this week, a pharmaceutical drug manager announced that it would promote the distribution of a $1-per-pill alternative to Daraprim
seems like capitalism is working
Posted on 12/5/15 at 11:22 am to steeltiger17
That's the type of guy I'd want running my company 
What a fricking moron
What a fricking moron
Posted on 12/5/15 at 11:23 am to SPEEDY
I think he knew the generic was coming for $1 so he tried to make every dollar he could in that slim window he had which means he is right and probably should have priced it higher
Posted on 12/5/15 at 11:23 am to steeltiger17
Why is capitalism wrong again? So people who take risks in life and subsequently come down with something preventable should be bailed out by cheap drugs? If consequences of something are life or death the risk should match the reward.
My only exception here is he should have a caveat to his pricing structure by which children, through no fault of their own, contact the disease. Additionally rape victims who are innocent in contracting it should be thrown in here.
It isn't popular but the guy has a fiduciary responsibility. Additionally, capitalists should come in and do what they do in every other market- compete. When profits are disproportionately high market entry by a competitor should be done to pull things into equilibrium.
My only exception here is he should have a caveat to his pricing structure by which children, through no fault of their own, contact the disease. Additionally rape victims who are innocent in contracting it should be thrown in here.
It isn't popular but the guy has a fiduciary responsibility. Additionally, capitalists should come in and do what they do in every other market- compete. When profits are disproportionately high market entry by a competitor should be done to pull things into equilibrium.
Posted on 12/5/15 at 11:23 am to steeltiger17
Sucks yes but I can't criticize them as long as I'm living in an OT mansion while there are starving kids in Africa. Dude is maximizing their money. We all do it.
Posted on 12/5/15 at 11:24 am to steeltiger17
quote:
Sometimes capitalism gets things wrong
But it doesn't. There was a cheaper alternative introduced which was spurred by this so capitalism worked because it is correcting itself.
Posted on 12/5/15 at 11:26 am to steeltiger17
as a pharmacist, i hate people like him... straight up hate how pharmaceutical companies operate.... its sad.. it really is...
Posted on 12/5/15 at 11:27 am to steeltiger17
quote:Actually capitalism got it right. It caused a cheaper alternative.
Sometimes capitalism gets things wrong
Posted on 12/5/15 at 11:27 am to stout
I wouldnt want to be a shareholder in the company selling it for $1
Gonna cost millions to set up the process of making the drug. And there is a very limited market for it. Not everybody with HIV needs the drug.
So they are spending millions for a public relations campaign basically.
Gonna cost millions to set up the process of making the drug. And there is a very limited market for it. Not everybody with HIV needs the drug.
So they are spending millions for a public relations campaign basically.
Posted on 12/5/15 at 11:28 am to lsu480
For that one week until the generic hit the market? People that are perpetually on meds like to stick to what they know. He could've hiked it, but kept it reasonable, and retained so much more people than he did. Plus, most people get AIDS medicine paid for anyway.
He really screwed everyone within the company and all of the shareholders with that move
He really screwed everyone within the company and all of the shareholders with that move
Posted on 12/5/15 at 11:29 am to CaptainJ47
quote:Da frick?
Why is capitalism wrong again? So people who take risks in life and subsequently come down with something preventable should be bailed out by cheap drugs? If consequences of something are life or death the risk should match the reward.
Posted on 12/5/15 at 11:33 am to stout
quote:announced this week.
There was a cheaper alternative introduced
We'll see if they can operate at selling it for a $1, how large their inventory will be, and if they just made this announcement for publicity.
This post was edited on 12/5/15 at 11:38 am
Posted on 12/5/15 at 11:39 am to jeff5891
quote:
announced this week.
We'll see if they can operate at selling it for a $1, how large their inventory will be, and if they just made this announcement for publicity.
Does any of this say that Capitalism isn't working?
Posted on 12/5/15 at 11:46 am to stout
quote:did I quote anything about capitalism from your post?
Does any of this say that Capitalism isn't working
I countered your statement that a drug had been introduced when it is in fact not available. Probably won't be for some time.
This post was edited on 12/5/15 at 11:52 am
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