Shkreli arrested

[RandomGuy]

HAHAHAHAHA



NEW YORK (AP) — A boyish-looking entrepreneur who became the new face of corporate greed when he jacked up the price of a lifesaving drug fiftyfold was led away in handcuffs by the FBI on unrelated fraud charges Thursday in a scene that left more than a few Americans positively gleeful.
Martin Shkreli, a 32-year-old former hedge fund manager and relentless self-promoter who has called himself “the world’s most eligible bachelor” on Twitter, was arrested in a gray hoodie and taken into federal court in Brooklyn, where he pleaded not guilty. He was released on $5 million bail.

If convicted, he could get up to 20 years in prison. He left court without speaking to reporters. His attorneys had no immediate comment.

Online, many people took delight in his arrest, calling him a greedy, arrogant “punk” who gave capitalism a bad name and got what was coming to him. Some cracked jokes about lawyers jacking up their hourly fees 5,000 percent to defend him in his hour of need. :lmao


http://news.yahoo.com/turing-ceo-martin-shkreli-custody-securities-probe-133722669--finance.html
http://media.vanityfair.com/photos/5672ea5f26c70c332ea291f6/master/w_900,c_limit/martin-shkreli-arrest-update.jpg

[MultiTroll]

nice for now.

Not hopeful the Injustice System will do anything to him but....

[hater]

Lol gave capitalism a bad name

So the hundreds of millions of humans pushed to shit in developing countries were a capitalist walk in the park? :lol

[Wild Cobra]

It was bad capitalism, a ponzi scheme.

http://media.bloomberg.com/bb/avfile/rjMmmf1jHzI0

[boutons_deux]

he can afford some expensive lawyering

[Splits]

He has about as much chance of landing in the slam as Rick Perry.

[angrydude]

1. He's going to go bankrupt paying attorney fees.

2. He's a political prisoner. The only reason he was ever investigated was because he gave wall street capitalists and big pharma a bad name in the press by acting like a total douche. He's a small fry, a sacrificial lamb. This is how corruption works. Everyone (on wall street) breaks the law and nobody cares, then they use the law like a hammer on the little pricks they don't like.

3. FINALLY someone is arrested for securities fraud, even if it's just for show.

[DMX7]

I'm surprised he's a man of poor character... I didn't see it coming.

[boutons_deux]

I like the idea Shkreli is a symptom, not the disease.

His mistake was to be too greedy.

He should have stopped at the predatory greed level of all the other diseased BigPharma assholes.

USA is the only industrial country that doesn't regulate drug prices. "free market" means free for monopolies to shake down, extort $Ts from sick people.

[RandomGuy]

1. He's going to go bankrupt paying attorney fees.

2. He's a political prisoner. The only reason he was ever investigated was because he gave wall street capitalists and big pharma a bad name in the press by acting like a total douche. He's a small fry, a sacrificial lamb. This is how corruption works. Everyone (on wall street) breaks the law and nobody cares, then they use the law like a hammer on the little pricks they don't like.

3. FINALLY someone is arrested for securities fraud, even if it's just for show.

He was investigated because when you defraud multiple people of millions of dollars, they tend not to let that go.

[boutons_deux]

BigFinance steals Ms of homes from people, maybe a fine paid by corporations, not by the stealers, but certainly no jail

Shkreli steals from investors, could be 20 years.

[angrydude]

He was investigated because when you defraud multiple people of millions of dollars, they tend not to let that go.

He was investigated because he became famous for being an asshole.

What he was doing is par for the course on wall street.

If you don't believe me, ask Jon Corzine.

[boutons_deux]

He was investigated because he became famous for being an asshole.

What he was doing is par for the course on wall street.

If you don't believe me, ask Jon Corzine.

They couldn't have put the fraud case together in the short time after he became infamous,notorious. The investors must have complained to govt long before.

[FuzzyLumpkins]

He was investigated because he became famous for being an asshole.

What he was doing is par for the course on wall street.

If you don't believe me, ask Jon Corzine.

:lol you present your truths like a priest.

[boutons_deux]

As was pointed out when Shkreli was a hot news item, he's precisely on the same continuum as ALL the BigPharma predators. His biggest mistake with drug pricing was to be so blatant about it, and also being the conspicuous target.

Here's a faceless corporate J&J drone essentially going full Shkreli:

Pharma Exec for Maker of $150,000 Cancer Drug Tells Investors Its Pricing Is “Very Responsible” (https://theintercept.com/2015/12/30/pharma-exec-for-maker-of-150000-cancer-drug-tells-investors-its-pricing-is-very-responsible/)

A top official at pharmaceutical giant Johnson & Johnson dismissed questions on a recent earnings call about the drug price reform debate in Washington, saying that the company is “responsible” in its pricing.

“Despite significant media attention on drug pricing, there really isn’t a consensus on policy solutions that would lower prices without negatively lowering innovation,” he said.
After recalling the industry’s collaboration (http://www.huffingtonpost.com/2010/03/29/big-pharma-wins-big-with_n_516977.html) on the Affordable Care Act, Caruso then told the questioner that the “real answer to this dilemma is to monitor and provide outcome-based metrics and not simply focus only on price.” :lol of course not! :lol


“Johnson and Johnson’s justification for their prescription drug prices are outrageous,” Vijay Das, a health care advocate at Public Citizen, told The Intercept in response to Carusos’s comments to investors. Sick patients and taxpayers are held hostage in order for the drug maker to extract extreme profits.”

Das pointed to investor documents (http://files.shareholder.com/downloads/JNJ/1252915726x0x854182/41EE5616-5D8C-4222-8F8F-AA28C69E15C7/JNJ_Earnings_Presentation_3Q2015.pdf) Johnson & Johnson uploaded that show the company spent 12.6 percent of its total sales in research and development, compared to 26.6 percent it spent on selling, marketing, and administrative expenses. This means the company was spending twice as much on marketing and sales as on actually developing the drugs.

For example, it produces and markets the cancer drug Imbruvica, which retails at around $9,550 (http://www.goodrx.com/imbruvica) for one bottle of 90 capsules. Dosage is four capsules a day, meaning one bottle will be a 22-and-a-half day supply.
At this average price, a full-year supply would cost $154,922.

Another drug it produces, Olysio, is used to treat Hepatitis C. This drugretails (http://www.goodrx.com/olysio) at around $22,000 on the low end for around a month’s supply (see daily dosing here (http://www.accessdata.fda.gov/drugsatfda_docs/label/2013/205123s001lbl.pdf)). Altogether, that equals $264,000 for an annual supply.

https://theintercept.com/2015/12/30/pharma-exec-for-maker-of-150000-cancer-drug-tells-investors-its-pricing-is-very-responsible/