Before you read my post, watch this video.
I realize this small potato is being derided in the public square, a spectacle for the unwashed mob to throw their soured cabbage. He is the most hated man in the world and to some deserving of The Catherine Wheel. The truth is, this sort of insidious practice has been taking place for a long time, in our beloved pharmaceutical space. How else do you think BIIB and AMGN make all of that money?
However, two wrongs do not make a right. Moreover, this moron is especially obtuse, well deserving of the 2015 Asshat of the Year award.
Check out his latest tweet.
If I follow his logic, because this drug only affects 2,000 or so indigents, it’s okay to rip them off and purposely cause their deaths. This is Scrooge McDuck thinking, a bitter child with a new toy taking advantage of those who want to use it. I hate this side of human behavior. Whenever greed is mixed with avarice, an asshole is born.
Fuck your capitalistic rebuttals. I get “for profit” and how it is the engine for innovation. But in this particular case, after studying his background, he’s just a dipshit trying to fleece sick people who need this drug to live. This pill was $1 just a few years ago and has been bought and sold from one company to the next, eventually reaching $13.5. Good old Marty comes along and jacks the price, overnight, to $750. Bear in mind, this is a drug that has been around for over 60 years and is without patent protection. Theoretically, any generic drug company can file an NDA and put Marty out of business.
I hope it happens.
Oh, during tonight’s news Marty said he’d buckle to public opinion and lower the price from $750 to an undisclosed amount. Perhaps he’ll be gracious enough to reduce the annual cost from $600,000 to maybe an affordable $500,000?
ASSHAT!
Oh by the way update: It was because of Marty that Hillary Clinton made that comment regarding excessive drug profits. The result, over the past two days, has been a -9% drop in the biotech index, or many, many billions of dollars in market capitalization.
Update: Zerohedge has some interesting color on Marty.
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https://pbs.twimg.com/media/CPjbNVTW8AAhUr1.jpg
How embarrassing to be exposed nationally as an arrogant little asshole. The total depravity of man for all to see.
Zero hedge thinks he’s short biotech’s and did this to rock the sector. Wow if true.
I wouldn’t put it past this little weasel for a second.
biotech went down because of Hillary`s tweet not what this asshat did! If he was expecting Hillary is going to react then he is a genius! His previous transactions as a hedge fund boy don`t have any indication of intelligence though!
This little bastard caused all kinds of problems with QCOR when I was a shareholder. They eventually squashed him like a bug but not before he was able to inflict some damage to QCOR’s share price. I would love to have my turn putting his balls in a vice.
I am pretty sure Hillary’s tweet was in response to this particular case.
“Shkreli is a League of Legends player who goes by the name “Cerebral”….Enemy eSports announced that they had rejected a $1.2 million offer from Shkreli.”
WTF is League of Legends? This nerd wanted to pay 1.2 Million for a fake online “team”?
https://en.wikipedia.org/wiki/Martin_Shkrel
Kids 31 and has an obvious lack of tact. Wouldnt put it past the lot to collude and orchestrate the Bio drop.
this bastard is a sociopath.
Billionaire at the age of 32!?
His smirk is the ultimate tell. I know people like this… smart but fucking psychopaths who have zero compassion, they think in binary. Dangerous dangerous people. Fuck Hillary all we need to do is enforce the anti trust laws on the books and allow importation (by anyone) of any drug from the ROW … Problem solved. Your $750 pill business plan is nuked overnight.
Word brotha
Does not that smirk robotically irk “i’m human”
A hundred years from now, our great grandchildren will survive by roasting rats over hot asphalt. From the flames, a brave child will erupt with earth’s last copy of the Fly’s upcoming book…
And then an elder will slay a thief intent on stealing that book and say, “Whenever greed is mixed with avarice, an asshole is born…”…
One look at his face and you can tell he’s a whiney little douchebag who got picked on in grade school…by girls.
He certainly suffers from small penis syndrome. He should invent a pill for that…not that I’m interested personally….lol
Thank you for saying this. Yes, theoretically any company can file an NDA, but the cost of compliance and regulatory paperwork exceeds the likely margin — and that’s the problem. Sell your pill at $13 and eat the loss on the paperwork, or sell at $100, only to have Asshat of the Year undercut you at $99. In no universe is that value creation — because the end game is someone with $10-50M to spare still has to build a production line, get it certified with GMP, and then run it as a $1/pill loss leader until Shkreli is starved out. Quite literally, value destruction.
In addition to the billions of dollars he’s indirectly wiped off the valuation of every biotech/pharma company on the planet, that is.
The unstated assumption in the current regulatory framework was that drugs would be priced competitively and that there would always be sufficient incentive for generic manufacturers to step up. This appears not to be the case.
How do you ensure that there’s enough incentive for enough generic manufacturers to prevent accidental monopolies from forming? For this drug, a well-planned kickstarter and a few bucks’ of charity from a Bill Gates could solve it. For the industry at large, not so much. There are different regulatory frameworks for orphan drugs (prohibitively low patient populations); it’s time the industry got together to figure out a way to solve the problem of ensuring a supply of competitively-priced orphaned drugs.
Equalizer is value added. Nice post.
Thanks. I do what I can, even though I’ve not been nearly as active as I’d intended to be.
Do you think he will tweet the honor of being named asshat of the year, similar to advertising being humiliated on national television in his Twitter account?
I feel very sorry for this guy. He is about to be internet raeped and it won’t feel good at all.
This guy’s a total sociopath. The more I read about him, the more repulsive he sounds. A couple of articles:
http://heavy.com/news/2015/09/martin-shkreli-hedge-fund-ceo-aids-drug-price-increase-turing-pharmaceuticals-daraprim/
http://gawker.com/lawsuit-scumbag-pharma-price-gouger-stalked-and-harass-1732357240
I think lowering the price seals his fate as asshat of the year. If you are going to be a price gouging douche, at least have the courage of your convictions. Nothing more spineless than being comfortable killing a bunch of people by exponentially raising the price of a drug and then lowering it because the people on the internet were mean to you. Vanderbilt and Rockefeller are rolling in their graves. In conjunction with all of the moral people that have ever been.
I agree the guy is douche but isn’t it a little early to bestow this award? There’s a quarter left in the year, and its entirely possible some other miscreant will be more deserving.
Everybody should tweet to him that he sucks at League of Legends and couldn’t even buy the team he wanted. That’s what will really cut to his bone. I think his name is Cerebral on that game.
https://www.youtube.com/watch?v=hooKVstzbz0
He is merely a boy among men.