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Martin Shkreli is found guilty of securities fraud

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Re: Martin Shkreli is found guilty of securities fraud

#561
post #558

Earlier quoted context omitted.

So when are you planning to manufacture an equivalent device at lower price? Just sell it for $99, you'll crush Mylan and still earn 10x margins.

They've probably got a ton of lawyers who would come after you based on their patents. Doubt op has mega cash to fight that.

I'm sure he can modify the design slightly. Maybe even improve it a bit. That would easily get around the patents.

Re: Martin Shkreli is found guilty of securities fraud

#562
post #496

A data point about medication: I just paid for a pair of EpiPens; the generic version was $337 a pair (last I checked, the non-generic version was over $600). I have pretty good health insurance, so I didn't pay that much myself, but my employer paid the rest. As a baseline, I had the pharmacist look up the equivalent medication for use with a syringe; a ten dose bottle was $5.99. I know, not the same thing. But this…

So when are you planning to manufacture an equivalent device at lower price? Just sell it for $99, you'll crush Mylan and still earn 10x margins.

Between the FDA and patent lawsuits, good luck doing this in the US. Several major drug companies have already failed miserably and Adrenaclick isn't anywhere near the huge success you apparently think it would be.

http://slatestarcodex.com/2016/08/29/reverse-voxsplaining-dr...

Re: Martin Shkreli is found guilty of securities fraud

#563
post #558

Earlier quoted context omitted.

They've probably got a ton of lawyers who would come after you based on their patents. Doubt op has mega cash to fight that.

I'm sure he can modify the design slightly. Maybe even improve it a bit. That would easily get around the patents.

You don't have to get around the patents, you have to get around the lawsuits. Being right doesn't stop you from going broke defending yourself.

Re: Martin Shkreli is found guilty of securities fraud

#564
post #496

A data point about medication: I just paid for a pair of EpiPens; the generic version was $337 a pair (last I checked, the non-generic version was over $600). I have pretty good health insurance, so I didn't pay that much myself, but my employer paid the rest. As a baseline, I had the pharmacist look up the equivalent medication for use with a syringe; a ten dose bottle was $5.99. I know, not the same thing. But this…

> Mylan is printing money.

Well, they're converting IP to money. The fact that their device is delivering adrenaline is almost irrelevant. Except for the dose sensitivity and life/death context, which make it a perfect setup. Price gouging is also an issue for asthma inhalers, for the same reason.

Re: Martin Shkreli is found guilty of securities fraud

#565
I first met Martin over a skype call and he was very humble—his identity online is just a brand.

2 years later, I stumbled into him again and asked him for advice on affording a cancer drug for a relative. He helped me find the charities and also introduced me to a contact at the pharma company.

The internet prefers headlines over reality.

Re: Martin Shkreli is found guilty of securities fraud

#566
post #496

A data point about medication: I just paid for a pair of EpiPens; the generic version was $337 a pair (last I checked, the non-generic version was over $600). I have pretty good health insurance, so I didn't pay that much myself, but my employer paid the rest. As a baseline, I had the pharmacist look up the equivalent medication for use with a syringe; a ten dose bottle was $5.99. I know, not the same thing. But this…

> This is an utter and corrupt racket. I'm writing my congressional representatives and senators. Again. I agree with what you wrote, but they're going to do fuck-all about it.

The pharmaceutical industry spends heavily on lobbyists. Only AARP has much of a chance countering them.

Re: Martin Shkreli is found guilty of securities fraud

#567
post #117

The government and media couldn't have asked for a better outcome. The actual criminals on Wall Street and in Big Pharma, who had the foresight to line the right pockets, go ignored and the outsider who drew the ire of the public - for a decidedly amoral business decision with poor optics - is very publicly castigated. It's a win all around for a monumentally corrupt establishment, which has once again deferred meani…

>Shkreli made the mistake of setting himself up as the perfect loudmouthed, flamboyant patsy.

It's not clear that he would consider that a mistake

Re: Martin Shkreli is found guilty of securities fraud

#569

Earlier quoted context omitted.

>Perhaps that makes me a bad person. Not bad, merely ignorant. You're celebrating the incarceration of someone you presumably know very little about, all while searching for "true" victims ("perhaps the public?") to fuel your indignation.

No, I think you actually mean bad . (That's not to say I don't understand your sentinment towards me , but really... I haven't hiked prices on life-saving medicines by upwards of 1000%, etc., so at least I win on moral relatisivm points?) This man has harmed quite a few people... or their insurance companies... which of course means harming of their customers, i.e. "us" (who can even afford insurance). I know enough…

> Oh, wait, you're one of those extremist libertarian types, aren't you?

This counts as personal attack and we ban people for that. In addition, it's not legit to use HN for ideological battle. (Irrespective of which flavors you're for or against.) So would you please not post like this again?

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