61–70 of 85 posts
So... how is this anything more than the government getting a taste of the spoils fleeced from gouging people who need medical care?
I fail to see what good this does, seems to just incentivize the company to make back another $465M by raising the price again soon as the media hype is over.
Earlier quoted context omitted.
It's tongue and cheek deterrent, it's effectively ex-communcaiton from their social circles which is where they get their attaboy/girl encouragement that this is acceptable behaviour. They don't see themselves as part of the hoi polloi, and bending the rules to their advantage is called "smart".
Why do you assume that it's the social status of the person that drives this behavior? Why do you assume that people "with money" find this behavior acceptable?
For a specific and kind of mind blowing example the inverter of https://en.m.wikipedia.org/wiki/Polymerase_chain_reaction decided not to become a mult-billionaire as he felt starting a company would be worse for humanity and somewhat sketchy.
On the other hand zuckerberg would not have become a billionaire without several amorale choices. I am not saying he is vastly more evil than the average person, but clearly not the kind of guy you want to have any actual power.
PS: And yes this is backed up by research. https://en.m.wikipedia.org/wiki/Psychopathy_in_the_workplace
For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
1. http://www.cnbc.com/2016/10/05/mylan-accused-of-bilking-taxp...
with the relevant paragraph:
> CMS "has, on multiple occasions, provided guidance to the industry and Mylan on the proper classification of drugs and has expressly told Mylan that the product is incorrectly classified," Slavitt wrote.
For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
You raise an important point, but the record shows that CMS was aware, and asked Mylan to stop doing this[1]. If your error is pointed out and you continue doing it, that's certainly fraud, no? 1. http://www.cnbc.com/2016/10/05/mylan-accused-of-bilking-taxp... with the relevant paragraph: > CMS "has, on multiple occasions, provided guidance to the industry and Mylan on the proper classification of drugs and has expre…
But... they don't have to lower the price back to what it was? So... how is this anything more than the government getting a taste of the spoils fleeced from gouging people who need medical care? I fail to see what good this does, seems to just incentivize the company to make back another $465M by raising the price again soon as the media hype is over.
Earlier quoted context omitted.
You raise an important point, but the record shows that CMS was aware, and asked Mylan to stop doing this[1]. If your error is pointed out and you continue doing it, that's certainly fraud, no? 1. http://www.cnbc.com/2016/10/05/mylan-accused-of-bilking-taxp... with the relevant paragraph: > CMS "has, on multiple occasions, provided guidance to the industry and Mylan on the proper classification of drugs and has expre…
Companies often have disputes with the government about the proper classification of something under a law. Just because the government agency states should an opinion doesn't make that a legally binding resolution of the dispute. Indeed, it's likely this settlement is happening because neither side wants to go to court and risk having the question decided against them.
Mylan made claims that were false.
Edit: the alternative is that the $465M payment is a bribe
Earlier quoted context omitted.
Still worth it. Tell me I can rob a bank for $100MM and you meet me upfront - instead of arresting me, just take half of my loot and tell me I can't do another bank for the next 12 months.
Doesn't it depend where Mylan's profit comes from? I don't know the numbers, but ideally the fine would more than cover the amount they made from EpiPens. In your example, if you legally earned $900MM and then robbed a bank for $100MM, would you be fine if the fine was $500MM when caught?
Earlier quoted context omitted.
Companies often have disputes with the government about the proper classification of something under a law. Just because the government agency states should an opinion doesn't make that a legally binding resolution of the dispute. Indeed, it's likely this settlement is happening because neither side wants to go to court and risk having the question decided against them.
If Mylan truly believes they did no wrong, they would say so and not settle. If the government believed the same, it would not be pursuing the case. Mylan made claims that were false. Edit: the alternative is that the $465M payment is a bribe
For people using the word "fraud." Fraud requires some misrepresentation of a material fact. Nobody at CMS was unaware of what an Epipen was, depending on Mylan's representations about what was in there. This is a fight over whether Mylan should have checked Box A or Box B. There is a reasonable case to be made for both sides. After all, the drug in an Epipen (epinephrine) is generic. For people talking about throwin…
If a company or person can't figure out how to spend their ill-gotten or lottery winning gains, the government will be happy to help.
Keep the money moving.
Earlier quoted context omitted.
If Mylan truly believes they did no wrong, they would say so and not settle. If the government believed the same, it would not be pursuing the case. Mylan made claims that were false. Edit: the alternative is that the $465M payment is a bribe
That's not true at all. People hedge their risk all the time. Do you think that every single person who takes a plea bargain is guilty of the crime they're charged with?
In a plea bargain, one admits to guilt.