My uninformed take is that he only got arrested because he was fucked with rich investors. The raising of the medication prices had nothing to do with his sentence and that type of shit is going to continue to go unpunished

It is more complicated than that. Drugs get a bad name for some reason when they only account for around 20% of medical insurance expenditures.

For example, there is a drug called Glumetza which was patented relatively recently that is adjudicated through insurances across the board for around $2000 a 30 day supply. It is literally just a dessicant (time release) added to the drug Metformin which is otherwise covered for $5-10. The owner of the patent spent close to a billion dollars pushing it through to Phase IV trial and now has a drug that is widely prescribed billing out close to $24,000 a patient per calendar year.

Shkreli had a drug that cost $750 a fill that was a life saving drug that was extremely acutely filled. Shkreli was also putting a big cut of his profits into developing a better drug than Daraprim with less side effects.

I would sit fireside and listen to you tell about how and why Shkreli got a raw deal all night. I’ve been vocally defending the man but mostly because I like his character. Any actual evidence I can put in my back pocket to make others feel uninformed is appreciated!

Happens to be right in my wheelhouse. I've spoken with him in person a few times as well. The character is born out of the ignorance most people have toward the pharmaceutical industry. I have tried defending him in the litany of idiotic posts of the main Reddit subs and it is just met with such hive mind boogie man arguments with no backing.. It is easy to see why he just started trolling these fools.

As for him laughing in Congress's face? Would you want to help the government while under federal indictment? The feds are allowed to lie to you all day and deceive with no recourse but you lie to them or withhold information to protect yourself from being railroaded and... 7 years in prison. Lunacy.

This was a young guy that was working on all sorts of neglected diseases which the bigger pharmaceutical companies want no part of because of the difficulty in getting a drug through all 4 trial phases and the acutely targeted demographic which they seem not worth the R&D money.

May I ask what he lied to the feds about and its context from your perspective? It is insane how difficult it is to find an unbiased account online.

I'll try giving it a short succinct answer as to my look. I am more of a pharmaceutical guy.

Only Martin and his investors know what he promised them in meetings. He supposedly claimed his predictions were netting close to 33% profit at MSMB (this is up there with some of the best hedge fund years ever and is basically unheard of outside of a few hedges). Most of these guys will lie or embellish especially if they are just starting out, it is hard to gain enough capital to make any worthwhile sample size.

He probably had been making predictions on paper leading up to actually getting investment capital that WOULD have netted him 33% in a small sample size which gave him confidence and he probably then passed these would-be wins on as actual investments that he made. Once he got the real capital and started implementing his strategies, he found that a lot of his earlier bets were just lucky.

He realizes his losses, ends up starting a drug company which he does much better with, and takes profits from there to do right by the investors he lost money for.

Everyone is squared away.

This is just speculation though, but my best guess.

Check out some of his investment lessons on YouTube, they are gold.

Thank you!

I like Martin too and agree that nothing he did seemed much different from other people in the business.

BUT I really think it is ridiculous when he and his fans try to spin things to make it look like he is a philanthropist trying to help people above all else. He was a really smart guy interested in making money and being successful, that's it.

No one gets into the pharm industry with the intention of helping people. You become a physician or a researcher.

He was in the middle of funding R&D for 5 NDA patents when he got indicted. He was attempting to develop drugs that were more targeted for neglected diseases. Contrast that with the billions that someone like Gilead puts into NDAs that literally flip the polarity of a drug already on the market that technically is different by law but does not treat an ailment any differently. They then get pretty much guaranteed through Phase IV trial and to market with almost a decade exclusivity before cheaper generics can be produced.

This is simplified explanation but this is where you get a drug like Glumetza that is now XR but has little to no actual evidence of being better treatment than generic metformin. This is what raises everyone's insurance. Not a drug like Daraprim that was really a chip for Shkreli to raise capital for new, better drugs that will further medicine. This is why I am mad. He was interested in making money obviously, but incidentally he was doing good.

Making money and incidentally doing good is what everyone in pharma is doing. Martin is no different in that regard. I think he enjoyed the attention and ultimately it cost him some serious prison time. He all but forced the judge to come down hard on him with all the negative publicity he continued to generate for himself.

It shouldn't be the case, but judges know they will look bad if they don't do something and conversely will look like heroes if they do punish a guy that many people hate.

The investors that were affectednactually testified on his behalf, because he made them money.

Hey what do I know got my container of coffee etc etc

He took money from one fund to back and cover another. He made all the right bets, just was too flagrant about it. Made too many enemies too young. And not a jew.

And not a jew.

ding ding fucking ding

It would be an absolute power move if he changed his name to Shkreliberg or Shkrelistein.

He lied to the Feds. That is it.

You're a dumbfuck

Lots of folks lost lots of money

I agree and even though I fuckin hate vice nowadays here's a pretty good interview done by some woman. He explains in his own words how he feels he's doing nothing wrong.

https://youtu.be/2PCb9mnrU1g

No opinion other than he has a face like a rat and I wanna fuckin' pull his fuckin' tongue out his fuckin' mouth and stab the shit with a rusty screwdriver. BLAOW!

Yeah! I'll fuckin', I'll fuckin' sew Martin Shkreli's asshole closed and keep feeedin' him and feedin' him and feeedin' him! BLAOW!

Yeah, shame on a nigga who try to run game on a nigga

Pill nigger.

He's a good egg, just misunderstood.

He rules.

Basically, if you're an investor and you didn't make the money you were pwomised, it's not fair and you should make the bad man go to jail for hurting your money's feewings.

Martin a gooboi, he dindu nuffin

No investor lost any money. While he lied about his investments making money on the market to the Feds, he did pay his investors back many fold through the money he made at his drug company Turing.

Not one investor lost money. He got 7 years for lying to the fed. Barbaric.

The fact that not one investor lost money kills the ponzi theory. No one was ruined like in Madoff's exploits. Everyone MADE money on their investments, it just came out of Shkreli's pocket.

And not one perpetrator of the economic collapse, bail outs, or housing bubble burst even did a night in jail.

7 years is ridiculous.

He's a political prisoner. Plain and simple. He put the boots Hillary and the deep state and kept on bringing up the obvious assassination of Seth Rich and Pizzagate.

Actual fucking fraud occurred that ruined people's lives and nearly destroyed the world economy and no C-level executives or Vice Presidents were ever held responsible.

Check out the book Chain of Title. It features 3 different accounts of normal people independently coming to the conclusion that the banks were fucking people out of their minds.

You're a dumbfuck

Lots of folks lost lots of money

Peesa G

As far as i know his investors got their money back, and him getting 7 years is way too much.

The reason for the harsh sentence is probably revenge for him raising the prize of a drug for AIDS patients, (his argument was that he raised the prize to finance the development of newer and better drugs) and that he made fun of Hillary Clinton and some other bitches on social media.

His finance lessons on youtube are worth watching, he's actually a pretty likeable guy.

You're a dumbfuck

Lots of folks lost lots of money

I don't really care. Fuck them and fuck you.

Then fuck shkreli and you for being so gullible

Hope he stole all your money.

I think he was railroaded for being 'rogue' rich guy that other rich guys didn't like the attention he brought to their typical shenanigans, like the drug price stuff. Also if you want to get a little conspiratarded, he messed with Hillary.

Overall he probably made it worse for himself by being autistic (he legit probably is) and not taking a lot of the trial seriously until it was way too late.

Scapegoat for all the other bullshit giant companies/conglomerates are up to

That railroaded theory make a lot of sense.

Lock up the overt guy so the rich can continue to do the same or worse shit in the background like they have been

and it was easy to do because of the frenzy and public hate around the completely unrelated pill price 'scandal'.

It really is ridiculous how much attention that got. You would figure with the amount of national attention the hike got from the media that they would have been able to find ONE single patient who was receiving the drug before he bought the rights that no longer was able to get the drug. Where are these dying people? You don't think they would have loved to put a face to this supposed criminal "price gouging"?

While this price hike was going on, there were compound specialty pharmacies pushing 3000ml jars of "dry mouth" serum for 10,000 a script. Monthly. There were $500 single pills of cyclobenzaprine being administered in hospitals for virtually every patient that goes through surgery or comes in after being in an accident (costs less than a nickel per pill to produce).

Why is $750 for a LIFE SAVING medicine considered some savagely high number? It is manufactured outrage while stepping over the actual elephant in the room which is hospitals and regular routine medical billing.

A doctor bills out on average $250 for you to step on a scale, have your blood pressure checked, and cup your balls while you cough a few times. 10 minutes = $250 but a 30 day supply of a drug keeping you alive is $750. Do the math.

Surely the price for both of these procedures/medications are high?

The price to produce a drug under GMP guidelines and all operational / logistical costs far exceeds what it costs to license a doctor and operate a facility.

Not sure what point you're trying to make.

That the drug price and the price of the doctor visit are both grossly inflated. Surely the amount of people using the drug at the lower price would pay for the R&D as well as production and logistics? Even if it took years.

Theoretically sure. Now can you lend me the approximate low end of 200 million to get the generic drug started?

Theoretically sure. Now can you lend me the approximate low end of 200 million to get the generic drug started?

I'll get it to you by this evening.

Theoretically sure. Now can you lend me the approximate low end of 200 million to get the generic drug started?

HE wasn't part of the cartel , therefore needed to be crushed

Yeah I'm no lawyer but he was pretty much accused of fraud and when you're dealing with wealthy investors who don't really want to know how the sausage is made I could see how it would be difficult to prove fraud, especially since even by their own admission none of them lost money and nobody was actually stolen from. Considering what he did, 7 years is insane but even according to the judge during sentencing he said it was basically cause Shkreli was a dick and he didn't think he was remorseful enough or something. He might as well have said "7 years cause I don't like your gay ass face."

It is worth noting that Judge Kiyo Matsumoto is a Japanese female.

my boy just got fucked by a sideways pussy

He's autistic

He would post on /r/wallstreetbets and shit post and troll with us. He would have fit in fine here with the rest of us piece of shit autists.

I like him. He's funny.

I dug his Lex Luther gimmick

If black people ever w

He’s been in jail for a year and he just got sentenced to another 7 last week.

yeah but like, the jail they went to in goodfellas right?

it breaks my heart when rich people are treated like regulars

He’s in federal prison. He’ll have to serve 85% of his sentence and he’s not eligible for prison camp.

Tl:dr he’s in fuck me in the ass real prison and will stay there for at least 6 years.

dudes like him will make friends

he is obviously a genius, will probably buy up all the ramen noodles and mark it up 700%

That'll get him in people's good graces

freeshkreli

They couldn't let an Albanian king shine, not even for a minute

His livestreams were entertaining, give him props for actually defending himself after Reddit made him out to be some /r/latestagecapitalism monster, as if any of the pharmaceutical companies operate any differently than he did.

Rza fucked everything up post wu tang forever

The wouldnt even exist if it werent for him. He produced Enter the Wu Tang, Tical, Liquid Swords, Only Built 4 Cuban Linx, Return to the 36 Chambers the Dirty Version, Ironman, Wu Tang Forever. Outside of a few Ghostface/Raekwon albums that is everything good any of them ever did.

They stink but RZA is great prod. & just as good lyricist. Never heard a Wu rhyme that made me think twice.

& just as good lyricist.

RZA's lyrics are fine. His delivery is worse than U-God's. Always fastforward through his verses.

They don't stink, and RZA sucks dick as a "lyracist". They have made about ten classics, and your opinion and taste are shit.

Quote a lyric, pussy. You can't, bc they stink. I'll quote Scarface for the next hr without changing albums, but u aint got a single example. Faggot.

Thats what I am going to do, quote rap lyrics to some fag on the internet for an hour. Sounds great, homo.

cant name one bitch boy, ur a hipster fanfag

Do you want me to just start quoting wu tang lyrics to you? Why? What a faggot. Go jerk off to 8 mile.

I said Scarface, dummy. If u were a fan you would've came back with your fav lyric, first thing. Lame ass poser with shit taste in music.

Do you dream about black cock while you spite fire ghetto boys lyrics, son?

The Fix is the reason to love Face, poser. Chris Rock & Chappelle made it cool to like Wu. They suck, that's why people only quote their comedy sketch (as evidenced by the initial comments. Stupid, whigger.

Wu tang was on Chappelle show like 10 years after enter the wu tang and all of the first solo albums came out faggot. What Im saying to you is quoting rap lyrics to someone on the internet is faggot behavior. Im sure you cant understand why it is so queer, because you are an immense faggot, but trust me.

Dave brought them back dummy. Forever was shitted on by their fans. They faded fast. Thanks for the update on what's deemed cool behavior on the internet fag. Still can't recall is single good lyric.

You are a fucking idiot, you thought Chappelle made them famous cause you are talking out of your wide, faggot ass. They were more famous than he was when they were on his show. You are a contrarian hipster faggot that reads articles and then decides what is good. Go ahead quote scarface lyrics to me, queer, Im sure it will be great.

I was alive when both came out. Bought Forever. They had one song on the radio between 2nd album and Chappelle, dummy.

Hahahahahaha what a fucking retard. Yes, Wu Tang was no good and no one knew who they were because they got no radio play. You realize, stupid, that they sold millions of records despite the fact that their songs were basically unplayable on the radio? You keep talking about wu tang forever like anyone thinks that was their best collective or solo, and it is like 9th on the list. Also, like I said, dummy, enter the wu tang came out ten years before his show.

I said in-between the album Forever, and appearing on C Show, they only had one big song (Gravel Pit). Learn to fucking read nigger. They have a dozen members, yet released a dbl album that only had two good songs.

Oh, sorry I dont speak retard. So the only reason I, and millions of other people, bought their first album and solo records was because I knew Chappelle would like them in the future. Shut the fuck up faggot, you were like 6 when this shit came out. Keep reading pitchfork articles to tell you what is cool.

Even Wu fans hate Forever, Tang always sucked, and you can't quote a single good lyric bc they don't fucking exist. Stupid.

The W is a great album.

The million dollar wu tang album isn't even shitty era RZA, it was made by a fan named Cilvaringz. I'm gonna take a wild guess and say that it probably starts with an intro with some kung fu film quote then has a bunch of shitty halfassed verses from wu guys. Nice album stupid.

Cilvaringz' production is awesome. https://youtu.be/zxTpm_SyxEw

Wu always sucked. Quick: quote a decent lyric.

There’s a Netflix show called Dirty Money that had an episode on the drug company Valeant, who boosted their stock price by hiking the price of drugs they bought from other companies and pushed through pharmacies they owned. Shkreli did the same thing but with the overseas rights of just one drug and without owning pharmacies like Valeant. Basically he was small potatoes and just got attention because he acted like an annoying little asshole.

At the beginning of the episode they showed Martin Shkreli testifying before Congress. He’s smirking and stifling laughter and then Elijah Cummings snaps and scolds him by saying how it’s not funny and people are dying. You can tell he sees this smug little white guy as the villain he’s always wanted, and never bothered to look into what was really going on. Shkreli was just a convenient person to persecute because people on Reddit and Facebook hate him.

That documentary series was pretty good.

Don't feel bad for that asshole.

“We may need to make some updates based on co-pay amounts we’ve been seeing since the price change … there are patients waiting now for product who have a $6,000 co-pay.” - Tina Ghorban, Director of Business Analytics and Customer Insights at Turing Pharmaceuticals

"Patients with commercial/private insurance experiencing increased co-pays, delays in claims approval and rejections. … One has 50% coinsurance resulting in a co-pay of $16,830." - Internal presentation at Turing Pharmaceuticals

Source: Congressional Investigation

Nice context, stupid.

What context am I leaving out?

Any patient that was unable to pay for the medication was allowed to fill out a form and receive the drug for free.

That's not true. The free drug program only covered uninsured patients and a select few patients with insurance.

Patient "has a $6000.00 co-pay. She is not a Medicare part D but has a federal funded insurance plan so wouldn’t quali[f]y for co-pay assistance or be covered under whatever Medicare Part D plan you are working on right now with Turing." Second patient "has insurance, however her plan does not cover Daraprim. Attempted to transfer to UCB for free drug program but was advised that because she has insurance, she does not qualify. Free drug program is only for patients with no insurance." - Walgreens Director to Tina Ghorban, Director of Business Analytics and Customer Insights at Turing Pharmaceuticals

Everyone except a select few insured patients had to pay their copays, otherwise that's insurance fraud. You can't regularly waive or reimburse copays to patients who have insurance and simultaneously bill the insurers full price, because then you would be both misrepresenting the actual cost of treatment to the insurance company (fraud) and unlawfully interfering with the cost-sharing contract between insurers and the insured. Cigna won a big lawsuit about this a few years ago. If you could do that then drug manufacturers would just reimburse the $7,350 out-of-pocket maximum to every patient and bill the insurance companies millions of dollars.

You can absolutely waive payment and send the drug to patients for free. You just cannot waive copay and bill it through insurance.

I ask, who are these patients? Are they now dead? Why is the media not running pieces on these people and vilifying Shkreli even more?

You just cannot waive copay and bill it through insurance.

That's what said.

From the internal communications revealed in the congressional investigation, the free drug program was only available to patients without insurance. Clearly a lot of insured patients were paying for the drug, because from those communications they were projecting a gross profit of $134 million in 2016, whereas the drug's previous manufacturer had total sales of under $10 million per year.

I ask, who are these patients?

Considering it's highly illegal to share people's medical information, it's not particularly surprising that we don't know who the individual patients are. I linked you to the congressional testimony of a patient earlier.

I did read the memo. This happens all the time in adjudicating drugs. Every year formulary is changed and reimbursements / coverage / deductibles become different.

You are cherrypicking from a much bigger picture. I guarantee you the single patient that had the 50% of cost copay that you refer to got their medicine through an LOM or charitable RX donation to circumvent the rarer cases where the drug was not covered.

You think that hundred million in profit came from the pockets of the 2000 US patients that currently take Daraprim? It came from insurance.

You think that hundred million in profit came from the pockets of the 2000 US patients that currently take Daraprim? It came from insurance.

And again, you can't bill insurers if you're waiving/reimbursing copays because that's fraud. So yes, the vast majority of that $134 million came from insurers, but those insurers weren't paying out unless the insured were paying their portion of the cost-sharing contract.

More charming and compassionate than opie

Isn’t it obvious? Libs hate him because he raised the price of a GRID medication. So we like him or at least pretend to like him to rustle their jimmies.

He's a good man wronged by the evil society we live in.

Why the fuck would you ask this sub about morality?

Detestable faggot.

Three part harmony..........he's a piece of Shit.

I liked him, and its a shame he went to jail, but after I submit this comment an refresh the main page I'll probably never think about him again

Wait, so you're saying you don't like hearing RZA awkwardly force rhymes and syllables into spaces that they don't fit? Flipper noises

((( ))) ?

He tries to go against big pharma at their own game, said he would give out the drug for free if you were uninsured. As a reward he got murdered by every media outlet on both sides to teach him a lesson.

On the Wu thing, those hasbeens and their shit fans are blaming whitey for buying exculsive rights to their recros which they sold without thinking about their fans. Fuck them.

Those wrestling style youtube promos that he cut fucking with ghostface was the lamest shit ever and wutang sucks. Buncha washed up corney dust heads With no musical talent.

Any patient that was unable to pay for the medication was allowed to fill out a form and receive the drug for free.

He’s in federal prison. He’ll have to serve 85% of his sentence and he’s not eligible for prison camp.

Tl:dr he’s in fuck me in the ass real prison and will stay there for at least 6 years.

cant name one bitch boy, ur a hipster fanfag