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  • Is he a real slime ball?

    Martin Shkreli's greed hides biotech's bigger problem

    https://finance.yahoo.com/news/marti...162229457.html

    The smirk on his face looks like it needs a good kick in the ass for starts.
    "Ask not what your country can do for you"

    Left wing, Right Wing same bird that they are killing.

    youíre entitled to your own opinion but not your own facts.

  • #2
    Originally posted by Half Pint John View Post
    Martin Shkreli's greed hides biotech's bigger problem

    https://finance.yahoo.com/news/marti...162229457.html

    The smirk on his face looks like it needs a good kick in the ass for starts.
    I only hope he gets to do time........in general population, and that his cellmate sees the second half of that term as being very, very important!

    Regards,
    Dennis
    If stupid was a criminal offense Sea Lion believers would be doing life.

    Shouting out to Half Pint for bringing back the big mugs!

    Comment


    • #3
      Originally posted by Half Pint John View Post
      The smirk on his face looks like it needs a good kick in the ass for starts.
      That could be said about most people appearing before Congressional Hearings the past couple of years.

      From Fast and Furious to the IRS to Benghazi......... they all need their butts kicked.
      "I don't discuss sitting presidents," Mattis tells NPR in an interview. "I believe that you owe a period of quiet."

      Comment


      • #4
        Originally posted by Nichols View Post
        That could be said about most people appearing before Congressional Hearings the past couple of years.

        From Fast and Furious to the IRS to Benghazi......... they all need their butts kicked.
        Oh I have little doubt about that Paul but the smirk on this guys face should get him jail time alone.
        "Ask not what your country can do for you"

        Left wing, Right Wing same bird that they are killing.

        youíre entitled to your own opinion but not your own facts.

        Comment


        • #5
          He' a douche.

          Comment


          • #6
            Originally posted by johns624 View Post
            He' a douche.
            When did they make being a douche a criminal offense?
            Watts Up With That? | The world's most viewed site on global warming and climate change.

            Comment


            • #7
              The douche might be a slimeball... but the criminal charges against him are totally unrelated to moronic notions about the pharmaceutical industry...
              A few months ago, Martin Shkreli, the thirty-two-year-old founder and former C.E.O. of Turing Pharmaceuticals, became a poster child for everything thatís wrong with American business when his company raised the price of its drug Daraprim, which is used to treat life-threatening parasitic infections, by a cool five thousand per cent. But, while Shkreli had to weather plenty of bad publicity, he had a ready-made defense: though his strategy for Daraprim may have been egregious, it was also perfectly legal. Unfortunately for Shkreli, the same cannot be said of securities fraud and wire fraud, the crimes with which he was charged on Thursday. The governmentís indictment alleges that Shkreli deceived investors in hedge funds that he ran prior to founding Turing, and that he paid some of his hedge-fund investors back with money that he took from Retrophin, a biopharmaceutical company he started in 2011. (Shkreli denied the charges, and was released on a five-million-dollar bond. On Friday, he resigned as Turingís C.E.O.)

              [...]

              He was charged for basically running a Ponzi scheme. He apparently ran his hedge funds as if he was the Social Security Administration...
              After he started a hedge fund called MSMB Capital, in 2009, the government alleges, Shkreli didnít tell potential investors that at a previous hedge fund, Elea Capital, he had lost all of the money that he managed. He also reportedly told investors that MSMB had an independent external auditor, which it didnít. And when his investments at MSMB failed, the government says, Shkreli raised more money by lying about the fundís performance. For instance, he allegedly told one investor that the fund had thirty-five million dollars in assets, when at the time it actually had seven hundred dollars in the bank. Even after MSMB had lost all of its money and had stopped trading, Shkreli was still telling his investors that the fund was doing exceptionally well. And the government alleges that he made similar misrepresentations to investors in a second hedge fund he started, this one called MSMB Healthcare. This would all amount to garden-variety fraud.

              More inventive was what the government alleges Shkreli did next. By early 2013, he was under some pressure. Investors in both of his hedge funds wanted their money back, but Shkreli didnít have it, even though heíd been telling them that their investments had returned healthy profits. At this point, the S.E.C. had started nosing around. So, apparently in order to settle with the investors and avoid the prospect of his fraud becoming public, the government says that Shkreli used money and stock from Retrophin to pay them off.

              [...]

              http://www.newyorker.com/business/cu...f-self-dealing
              Watts Up With That? | The world's most viewed site on global warming and climate change.

              Comment


              • #8
                Part of the problem with big Pharma the world over is perverse incentives. Like the police complete success would mean less need for their services. If there were no more criminals outside of jail there would be much less demand for policemen and similarly if we could cure or eliminate all diseases there would be much lower sales of pharmaceuticals. Palliatives and prophylactics are much more profitable in the long run than outright cures. This must lead to investment decisions that run counter to the best interests of society as a whole. Is it worth spending large sums attempting to develop a once and for all time treatment for diabetes (and risking large losses if one fails) rather than making substantial regular income producing insulin? What would a cure for HIV/Aids bring in as opposed to selling expensive retro virus cocktails over tens of years to millions of people? Wipe out a disease and you may make a big short term profit but you wipe out an income stream in the process. Producing new drugs is a costly, very lengthy and risky business. Most of the products in your pipeline will never reach the market and the returns from the one that does must pay for all the work on those that don't. This is probably why no new antibiotics have been produced reticently, they cost zillions in research and if they do work in today's world they will probably be held in reserve so as not to encourage the evolution of resistance in the pathogens so that sales will be low and slow. From a commercial view point rather than an ethical one it's not worth the candle.
                Human history becomes more and more a race between education and catastrophe (H G Wells)
                Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

                Comment


                • #9
                  Originally posted by Half Pint John View Post
                  Oh I have little doubt about that Paul but the smirk on this guys face should get him jail time alone.
                  That clearly was contempt....... I wonder if they can hold him accountable....
                  "I don't discuss sitting presidents," Mattis tells NPR in an interview. "I believe that you owe a period of quiet."

                  Comment


                  • #10
                    Originally posted by MarkV View Post
                    Part of the problem with big Pharma the world over is perverse incentives. Like the police complete success would mean less need for their services. If there were no more criminals outside of jail there would be much less demand for policemen and similarly if we could cure or eliminate all diseases there would be much lower sales of pharmaceuticals. Palliatives and prophylactics are much more profitable in the long run than outright cures. This must lead to investment decisions that run counter to the best interests of society as a whole. Is it worth spending large sums attempting to develop a once and for all time treatment for diabetes (and risking large losses if one fails) rather than making substantial regular income producing insulin? What would a cure for HIV/Aids bring in as opposed to selling expensive retro virus cocktails over tens of years to millions of people? Wipe out a disease and you may make a big short term profit but you wipe out an income stream in the process. Producing new drugs is a costly, very lengthy and risky business. Most of the products in your pipeline will never reach the market and the returns from the one that does must pay for all the work on those that don't. This is probably why no new antibiotics have been produced reticently, they cost zillions in research and if they do work in today's world they will probably be held in reserve so as not to encourage the evolution of resistance in the pathogens so that sales will be low and slow. From a commercial view point rather than an ethical one it's not worth the candle.
                    This story has nothing to do with big pharma, medium pharma, little pharma or any sort of "pharma" at all.

                    It's about a crooked hedge fund manager who was running a Ponzi scheme.
                    Watts Up With That? | The world's most viewed site on global warming and climate change.

                    Comment


                    • #11
                      Originally posted by The Doctor View Post


                      This story has nothing to do with big pharma, medium pharma, little pharma or any sort of "pharma" at all.

                      It's about a crooked hedge fund manager who was running a Ponzi scheme.
                      From the OP

                      Martin Shkreli's greed hides biotech's bigger problem
                      I'll take this as guidance rather than your dictat thanks
                      Human history becomes more and more a race between education and catastrophe (H G Wells)
                      Mit der Dummheit kaempfen Goetter selbst vergebens (Friedrich von Schiller)

                      Comment


                      • #12
                        Originally posted by MarkV View Post
                        From the OP



                        I'll take this as guidance rather than your dictat thanks
                        That's HPJ's baseless opinion. Nothing in the article he cited.supports such nonsense.
                        Watts Up With That? | The world's most viewed site on global warming and climate change.

                        Comment


                        • #13
                          So raising the price of a life saving drug 500% overnight is just fine for some?
                          I don't get it. The guy makes Bernie Maddoff look good.
                          Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.

                          Comment


                          • #14
                            His statement about politicians is right on. Funny how some Democrats can get away with murder, but will fry a little guy.
                            My worst jump story:
                            My 13th jump was on the 13th day of the month, aircraft number 013.
                            As recorded on my DA Form 1307 Individual Jump Log.
                            No lie.

                            ~
                            "Everything looks all right. Have a good jump, eh."
                            -2 Commando Jumpmaster

                            Comment


                            • #15
                              Originally posted by 101combatvet View Post
                              His statement about politicians is right on. Funny how some Democrats can get away with murder, but will fry a little guy.
                              A little guy? Your not rapped to tight are you? Who are the big guys if he is a little fish in your pond?
                              "Ask not what your country can do for you"

                              Left wing, Right Wing same bird that they are killing.

                              youíre entitled to your own opinion but not your own facts.

                              Comment

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