Pharmaceutical company buys drug used to treat life-threatening infections; raises price from $13.50

[Sableye]

[QUOTE=sgman91;48733902]Assuming everything you've said here is correct, and I see no reason why it wouldn't be, then I'm not sure how anyone in their right mind can say that this is an effect of capitalism. Every single step of this process either includes government regulation, or is caused directly by the regulation.

It's also good to note that being for free market capitalism isn't the same things as being for corporations over anyone else. The point is that a free market supporter believes that the free market is a better way to deal with this kind of problem than government regulation, which always lead to unintended consequences and/or doing even solve the original problem.[/QUOTE]

this drug can't be patented, the company that developed it is long dead, this is free market resetting the price on a commodity

[editline]21st September 2015[/editline]

i really wish sometimes that adam smith had lived in the system he proposed, he'd have been appalled by some of the shit free market capitalism can do when it comes to peoples lives

[Sgman91]

[QUOTE=Rangergxi;48733921]How about fixing regulation instead of abolishing it (I assume you're of this position)?[/QUOTE]

I'm fine with fixing the regulation. I'm responding to the seemingly common belief that this is the fault of the free market.

[QUOTe]this drug can't be patented, the company that developed it is long dead, this is free market resetting the price on a commodity[/QUOTE]

To even talk about the market regulating prices in the medical industry is laughable. It's so highly regulated that any sort of competition is impossible.

[Curls]

[QUOTE=VinLAURiA;48732534]Seriously, screw being seen as "un-American" at this point. Let's get this friggin' country to a point where things [i]work.[/i][/QUOTE]

the only reason it's "Un-american" is because of how the red scare kind of still exists even today

people should get over it

[ultra_bright]

[QUOTE=GunFox;48733070]Yet another example of how free market health care is actually the opposite.

If someone hikes up the price of a new television 55 times what it was the previous day, you aren't going to buy the television. Free (ish) market.

If someone hikes up the price of the drugs you need to continue living 55 times what it was the previous day, you are still going to do whatever possible to buy that drug. Not a free market.

When you hold a gun to someone's head and tell them to pay or die, it isn't a free market.

Meanwhile if you nationalize healthcare, then the government negotiates on your behalf. It engages in free market practices and forces the price down.

Socialized medicine has more in common with capitalism than our current system.[/QUOTE]

I have no fucking clue how the FDA allows price gouging for life saving drugs and yet the FCC has a million regulations when it comes to radio and television.

If I couldn't afford it you bet I would steal a years worth of the drug just to survive, but hey, that's the governments problem, not the corporations.

This guy is in the position where I would have to sit down and think "Now if I wanted to fuck over as many people as possible, as quickly as possible and legally, what can I do?". It's almost a bond villain level of evil.

[Snowmew]

[QUOTE=sgman91;48734091]To even talk about the market regulating prices in the medical industry is laughable. It's so highly regulated that any sort of competition is impossible.[/QUOTE]

Uh, this is literally the textbook definition of equilibrium monopoly pricing with inelastic demand.

[Sgman91]

[QUOTE=Snowmew;48734269]Uh, this is literally the textbook definition of equilibrium monopoly pricing with inelastic demand.[/QUOTE]

The regulation makes it incredibly hard, if not impossible, to make competing products. So, yes, it's a great example of how the market reacts when a monopoly is legally enforced, but prices aren't.

[goldenbuttocks]

i really hate it when people call anyone who disagrees with them a "liberal" or "socialist"

[Ordnas]

yeah fuck capitalsm!!!

[Quinn]

I can understand maybe raising it a little to actually make a little bit of process, but up to 750 dollars? holy shit. Also watched this interview, don't know if it has been linked [url]http://www.bloomberg.com/news/videos/2015-09-21/why-turing-increased-price-of-daraprim-over-500-[/url]

[Mingebox]

To be honest, I wouldn't mind if this guy got murdered.

[Reshy]

Ah, the free market at work ladies and gents.

[Quinn]

just look at his face at like 4:00 in the interview that i posted, he knows he's full of shit.

[Saxon]

[QUOTE=GoDong-DK;48733398]You can listen to his reasoning here (spoilers: it's shit):
[URL]http://www.bloomberg.com/news/videos/2015-09-21/why-turing-increased-price-of-daraprim-over-500-[/URL][/QUOTE]

Wow they were almost giving it away, what a shameless crime.

Enough to make a rich white man cry

[WoodenSpoon]

[QUOTE=VinLAURiA;48731962]Bearing in mind, of course, that all of the paths that could possibly be "their own way" will be conveniently blocked off under a mountain of bureaucracy and cost of entry that is insurmountable to almost everyone who doesn't have a personal connection to one of the controlling elite.

Now spin faster, cog. We can get another 40 years of cheap labor out of your insignificant life.[/QUOTE]

What a depressing viewpoint. Get educated, do and say worthwhile things, learn how the mind works, network and make connections with people. You can go places like this. Capitalism is for everyone you just gotta start climbing the ladder.

Have fun being a cog when you could be helping design the machine.

[kweh]

[QUOTE=TomoAlien;48731964]I wish terrible things to this "person". Things that would make stuff from horror movies seem like a peaceful happy stroll through the park.

Bein' edgy again... But seriously, it deeply angers me that "people" like that exist. I don't understand how someone can live with themselves like that, but then again... I have a moral spine unlike this being.[/QUOTE]

Edgy, yea, but goddamn I wish everyone who passed by him spit on his face and called him a wanker.

[Rangergxi]

[QUOTE=TomoAlien;48731964]I have a moral spine unlike this being.[/QUOTE]

Some people were just raised to value money and possessions.

[Lord of Ears]

[QUOTE=Dougz;48731847]Here's how the CEO responded to criticism
[t]http://i.imgur.com/h7Ssfa8.png[/t][/QUOTE]

holy shit it's literally [I]nobody's fault but his[/I]

burn all scumfuck yuppie trash starting with this particular pellet of scumfuck

[Ordnas]

[QUOTE=Reshy;48734515]Ah, the free market at work ladies and gents.[/QUOTE]

It's not a free market you little squit

[aznz888]

this guy needs a bullet put through his brain, stat

then we distribute his estate to needy patients

[Rangergxi]

[QUOTE=OrDnAs;48734993]It's not a free market you little squit[/QUOTE]

[QUOTE]“This isn’t the greedy drug company trying to gouge patients, it is us trying to stay in business,” Mr. Shkreli said. He said that many patients use the drug for far less than a year and that the price was now more in line with those of other drugs for rare diseases.[/QUOTE]

We didn't exactly need the free market for alternatives since this worked fine but this is what a system of greed gets you.

You against patent law or something?

[Crimor]

[QUOTE=Rangergxi;48735030]
You against patent law or something?[/QUOTE]

When it is literally leading to deaths, yes.

[aznz888]

just watched his interview [URL="http://www.bloomberg.com/news/videos/2015-09-21/why-turing-increased-price-of-daraprim-over-500-"]here[/URL].

if shrekeli does live up to his words on Turing providing a better program, then i can see this actually being helpful. he's still the fucking devil, but it's possible this may end up pushing the competitiveness of the industry into better R&D.

[BLOB Fish Dude]

[QUOTE=Sprockethead;48733294]And on that note; The united states is not even a real country anymore.

It is literally a patchwork of ancient decrees, half-solutions, inefficiencies, bureaucracy and utter corruption. Nobody can effectively break it down, so nobody can control it.

You have made one big tangle of laws and regulations that one can hardly even approach legislatively, even when this manmade monster tramples people's lives, all one can really do is give it another patch.

So youre fucked.[/QUOTE]

How is that even related to what is happening here? Not even a country? Last time I heard about Denmark, they were having an underpopulation problem.

[Bat-shit]

Is that really a CEO of a mega drug company, just chatting it away on twitter?

[quote][t]http://i.imgur.com/h7Ssfa8.png[/t][/quote]

He might as well have responded "u mad?"

[Download]

The patents on the drug has been expired for 32 years. All this guy owns is the brand-name.

Buy generic.

[Sobotnik]

[QUOTE=Snowmew;48734269]Uh, this is literally the textbook definition of equilibrium monopoly pricing with inelastic demand.[/QUOTE]

How would you fix this situation yourself if you had the ability to? Any policies or regulations or that sort of thing?

[Ordnas]

[QUOTE=Rangergxi;48735030]We didn't exactly need the free market for alternatives since this worked fine but this is what a system of greed gets you.

You against patent law or something?[/QUOTE]

But it isn't a free market

[Sableye]

[QUOTE=download;48735304]The patents on the drug has been expired for 32 years. All this guy owns is the brand-name.

Buy generic.[/QUOTE]

No his company is actively working to prevent generics by refusing to sell samples to companies that have to compair their versions to his company's, this in of itself is probably illegal, and hopefully gets the fda to come down hard, jacking prices of your drug is morally unsound but legally OK, but preventing generics on a drug that's 60 years old to insure your drug is the only one on the market is not OK

[Download]

[QUOTE=Sableye;48735443]No his company is actively working to prevent generics by refusing to sell samples to companies that have to compair their versions to his company's, this in of itself is probably illegal, and hopefully gets the fda to come down hard, jacking prices of your drug is morally unsound but legally OK, but preventing generics on a drug that's 60 years old to insure your drug is the only one on the market is not OK[/QUOTE]

Given the drug has been on the market for 63 years there would be samples out there. No one can control a mass-produced disposable item that effectively.

[Zero-Point]

[QUOTE=The Aussie;48732200]Bernie Sanders is attempting to outlaw SuperPAC spending on politicians. If big Pharma can't bride congressmen, they'd be more likely to install various price ceilings for essential medications, which Pyrimethamine (Daraprim) is, as a list of the WHO essential medications list.

Shit like this fucking pisses me off to no end. We've got a variety of drugs to treat malaria but Pyrimethamine is the first line drug for Toxoplasmosis patients. It's usually not a problem but in immunocompromised patients (those with HIV) it will pretty much fucking kill you. It's usually used in combination with Sulfadiazine. The pathogen which causes toxoplasmosis (Toxoplasma gondii) can also cause spontaneous miscarriages, birth defects and mental retardation when it infects pregnant women. Thanks to this dickhead we can expect to see a shitload of dead poor HIV/AIDS patients and retarded, deformed poor children. Fucking capitalised healthcare.[/QUOTE]

*if big Pharma can't [I]legally[/I] bribe them