Price of life-saving drug Daraprim before Martin Shkreli’s company bought the rights to it: $18.
Price to which he raised it: $750 per pill.
Image of Shkreli being led off in handcuffs after being arrested for securities and wire fraud: Priceless.
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6 Comments
The $5 million bond was probably paid with his misbegotten gains. Where are the muckrakers so evident at the start of the last century for Wisconsin and Shkelri?
This is all good, but why such low bail? And of course this won’t help those who need the price of the medications lowered.
They should have increased his bail by 5,000% right before he tried to pay it.
There’s a good Borowitz piece in which Shkreli’s lawyer hikes his fees by just as much.
Is anyone else a skeptic like me? Do you think he would have been prosecuted IF he was not identified as “that 5,000% increase guy?”
http://www.nytimes.com/2015/12/18/business/shkreli-fraud-charges.html
This newer article is a good description of the whole mess. And yes, I wondered too if he would have been prosecuted if he hadn’t been such a public asshole.
We know that there are other companies out there doing similar things. I’m hoping that this case will bring enough attention that maybe something will be done about them.
It’s nice to this financial genius get (at least some of) his comeuppance. If justice prevails, he’ll be bunking with his mentor, Bernie Madoff, before too long (justice delayed is justice denied). As a small company pharma R&D guy, though, it would have been nice to see him indicted for abusive business practices vis-a-vis the price gouging he engaged in, but then again thanks largely to our lame Congress, that seems to be business as usual these days in my industry, among others.