Seriously drug companies!

[boiler717]

LOL at his Google results

[Velar Fricative]

Sept 21, 2015 7:28:25 GMT -5 ttt said:

The CEO of Turing Pharmaceuticals responded to criticism of the price increase with:

"It's a great business decision that also benefits all of our stakeholders"

So there you go. Screw everyone else - the only people who matter are investors.

www.fiercebiotech.com/story/why-would-martin-shkreli-hike-old-drug-price-5000-only-moron-would-ask/2015-09-20


ETA: side note, the CEO of Turing Pharmaceuticals was born in 1983  :?

I saw the CEO's last name and said, "Fuuuuuuuuuck..."

But I just confirmed that he is indeed NOT MY COUSIN.

[lyssbobiss, Command, B613]

How is it a smart business decision when you jack the price up so high people can't afford it?

[boiler717]

Sept 22, 2015 11:26:11 GMT -5 lyssbobiss, Command, B613 said:

How is it a smart business decision when you jack the price up so high people can't afford it?

The majority of patients are on a copay system for RX meds, and as the CEO says in his Reddit post, they use co-pay cards to keep the OOP cost for the majority of consumers low. Their insurance is on the hook for the extra thousands, so they may not see the difference until their premiums shoot up. If they have coinsurance or an HDHP they will see the cost, but for the majority of patients they won't see it. I would have had no idea my drug increased 10x had I not seen the EOB amount when I was searching for another EOB on my insurer's website as my copay remained the same low copay with the copay card.

[05heel]

Sept 22, 2015 11:26:11 GMT -5 lyssbobiss, Command, B613 said:

How is it a smart business decision when you jack the price up so high people can't afford it?

Not defending his move at all, because it's messed up.  However it makes business sense because it will primarily affect HIV patients, who are almost universally insured.  I remember when Norvir went from a dog drug with intolerable side effects to a backbone of HIV therapy.  Abbott adjusted the price "accordingly", and providers were PISSED.  However, most patients were none the wiser because the cost to them was still minimal.  It's a shame that protections for the most vulnerable patient populations can be exploited so terribly, but this is a pretty sound business move on Turing's part.  At least for the short term and until the broader pharma backlash begins. 

[lyssbobiss, Command, B613]

I see, thanks for explaining, guys!

[WOT?*]

I saw this as a link at another article. He's an "interesting" individual.
gawker.com/lawsuit-scumbag-pharma-price-gouger-stalked-and-harass-1732357240