16 years old students created Martin Shkrelli medication for

>>8517156
Source?

>>8517156
>16 years old students created Martin Shkrelli medication for less than 2$


What the fuck are you saying?

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>>8517156
Good luck getting it approved by the FDA.
>During the Super Bowl, a representative of the pharmaceutical company Eli Lilly posted the on the company's corporate blog that the average cost of bringing a new drug to market is $1.3 billion
>OP is a faggot.
Source: http://www.forbes.com/sites/matthewherper/2012/02/10/the-truly-staggering-cost-of-inventing-new-drugs/#4851cc764477

>>8517163
Many sources, but here's one https://www.theguardian.com/science/2016/dec/01/australian-students-recreate-martin-shkreli-price-hike-drug-in-school-lab

>>8517171
>“I said ‘Why don’t we get students to make Daraprim in the lab’, because to me the route looked pretty simple. I thought if we could show that students could make it in the lab with no real training, we could really show how ridiculous this price hike was and that there was no way it could be justified.”
So they just synthesized it.
How is this even news?
Holy fuck.

It's a good thing, isn't it? I mean 700$/pill for dem shekels are a good strategy to earn a few bucks. And when there's no competition and nobody else is providing the needed medication it's a price you can't argue with.

You complain? Well, develop your own medicine then, motherfucker.
It's too pricey for you? Don't get sick in the first place.

But honestly. Prices are always dependent on supply and demand.

>>8517167
>$1.3 billion
this figure is disputed, it includes a bunch of federal grants to academic labs prior to a company getting involved in a particular area

you must be the most credulous faggot on the planet if you blindly believe a super bowl ad produced by a drug company & the fawning rehash in Forbes.

>Good luck getting it approved by the FDA.
Generic Daraprim is not a problem, scientifically.
It's a licensing issue.

You're the dumbest mother fucker to post on /sci/.
Congratulations.

>>8517175
>It's too pricey for you? Don't get sick in the first place.
They had a 1 $ per pill program for people who could not afford insurance.

>>8517175

Ok so lets say I discover a medication that cure all diseases on earth. Will I sold it 1000€ or 5€ to make money?

Probably 5€ so anyone on earth can afford it right?

>>8517180
>you must be the most credulous faggot [...]
Post your sources or fuck off.
>Generic Daraprim is not a problem, scientifically.
>It's a licensing issue.
The OP said created, not synthesized.
I thought they made an entirely new drug.
>You're the dumbest mother fucker to post on /sci/.
Kys commie.

>>8517174
It's a fundamental misunderstanding how why drugs are priced. Less than 15% of a chemical process are the chemical elements. The rest is mostly to pay up the heavy research costs.

It doesn't matter than 16 yo can recreate the pill, they can't pay up for a testing campaign.

However, it proves one thing : the price of drugs should be regulated. Let the government decides of a maximal price, but let patents last a handful of years - enough for the lab to pay up for the research costs. Then let the free market do its job and produce generic medicine that costs much less because it precisely don't take research prices into account.

Source : mother worked in the pharmaceutical industry.

>>8517188
Oh yeah I also forget to mention that there's more poor than rich on this planet :)

>>8517188
>cure all diseases on earth
Why sell it if it cures ageing?
If not, you price it at 1 billion shekels.
Some rich saudi will pay for it.
Then you slowly decrease the price to milk all rich people first.

>>8517192
op here, you're right I should have used "synthesized" but well

>He never actually bothered to listen to based Shkrelli speak about the pharma industry
He has a youtube channel where he talks to detractors over discord, you might want to watch it before you fling shit

>>8517199
>implying ageing is a disease

>>8517156
The drug has been around for 70 years dipshit. It's not a secret miracle drug. The price of products do not directly reflect the cost of making them, if you thought they did, you're going to have a bad time.

Just humor me OP, when's the last you you payed full price for a drug? Never?

>>8517156
I don't get the point. It was a $13 drug prior to the price hike. Of course any competent pharmacy lab could produce it.

>>8517203
it acts exactly like a disease. It's literally a genetic disorder.

>>8517235
>It's literally a genetic disorder.
It's an evolutionary mechanism.
Genetic variations of offspring permit survival of the species.
Immortality would mean scarcity of resources.

>>8517229
op here.

Well I never pay for my medications as i'm a french citizen. :))))

>>8517246
>Well I never pay for my medications as i'm a french citizen. :))))
>I don't pay taxes.

>>8517279
> inb4 I don't pay taxes
> Let's say I have a very rare disease
> Let's say the total cost to cure this is 100.000€
> Let's say France pay the whole thing for me

Sorry but I prefer paying taxes than paying for being healthy.

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anyone else think this guy looks like galois?

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This same kind of shit happens in electronics too, literally the easiest shit to produce yourself (cost about 5 cents) and you can sell it for 50-100 bucks.

It's a fucking business deal with it.

>>8517415
Galois a CUTE! A CUTE!

can someone actually explain what this whole fiasco was about? i think i remember seeing some /pol/ post

>shkreli hikes drug price up 200%
>people outraged
>in reality insurance would pay the cost
>for those without insurance the price is even cheaper than the original
is that it?

No you fucking retards. Companies pay 750, individuals who can't afford it pay either nothing or close to it. Why is sci so financially retarded? Is it too hard for you and your big brains to understand that products can have more than one price dependendent on the income and insurance of the buyer? He actually gives away the drug in many cases. Fuck why isn't this the second post? Fuck you sci.

>>8517156
Something has to pay R&D eh. Also $750 isn't outrageous for a medicine that costs $2 to produce.

>>8517156

I love how his only excuse was "setting up a drugs company is expensive". The guy is a classic sociopath, but his crapulence has ultimately benefited society. The market fix't it!

>>8517183
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>>8517183
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>>8517183
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>>8517183
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>>8517183
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>>8517183
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>>8517183
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>>8517183
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Please all you retards stop arguing and read this fucking post.

>Untested Analogue
Into the trash it goes

>>8517430
> shkrelli hikes drug price up 200%

Original price was 13.5, he rised to 750 in one single day

Shkreli is based, anyone who hates him has fallen for the media's tricks

>>8517430
It was literally just a big campaign by insurance companies to discredit him in the eyes of the people who don't bother doing research and getting them riled up.
None of the cost got put on consumers

FUCK FUCKING GOD FUCK HIM

GOD IT NOT REAL

>>8517489
3rd world shitter.

" Mr Shkreli laughed and said most drugs can be made at home for a small cost. "

He is exactly right and for any mediocre organic chemist a prep of Daraprim is fucking trivial. This is only a story because normal people know fucking nothing about chemistry and drugs

>>8517156
Yeah well let those kids sell their drugs and be liable for any deaths they cause.

>>8517491
>>8517430

Where do you think insurance money comes from, retards? He was taking that cash directly from the people who pay insurance, principally the govt (aka the taxpayers).

>>8517561
this convince me even more that this guy is suck a dick

>>8517566

this is actually true, though arguably the taxpayer pays a very small negligible increase though in principle its wrong.

>>8517582
is such *

>>8517566
>Millions of people with insurance
>only 2,000 people need this drug
>company gives 60% of it away for free
>overal medication costs insurance companies far less than that of hospitals and doctor liabilities
>thus medication costs influence insurance premiums far less than hospital and doctor costs
>do the fucking math

Literally the only people who get hurt by a price hike on a drug being sold at such a small volume are the distributors which have to carry the drug, but the distributors are ass backwards anyways and work with insurance companies to boost profits of pharmaceutical companies which pay into the system, so fuck them.

>>8517586

I don't pay taxes to make Shkrelli rich. It's bad enough that I have to pay for Jamal's AIDS drugs but I'd rather my money goes to niggers and faggots than to an Armenian.

>>8517611
this

>>8517608

Protip retard: There are plenty of people who have AIDS who don;t have insurance of any kind. The company gave so much away because it recognised this, you think Shkrelli will keep giving it away?

>>8517587

Yeah he's a total cunt, I've not spoken to a single person in the pharma community that thinks he's a good guy, or is doing the right thing.

>>8517616
Protip retard: people without insurance can get the drug through Medicaid. Skhreli offered to get the drug away to anyone who wouldn't be able to get it if they contacted him. Also, not all victims of AIDS require the drug. It's only people who suffer from toxoplasmosis who also have AIDS who may need to take it if the illness is severe.

And the company can afford to do so, because of the price hike. Perhaps do some research on them, you may be suprised to hear that Shkreli doesn't own that company anymore, and that they still continue to do what they have done since the price hike. They can also afford to research the drug and improve it, which the previous owners hadn't done since the drug was first patented.

Why are you mad about this? Why don't you complain about epi-pen shots being thousands of dollars in the hospital? What about the thousands of dollars an ambulance costs? Hmm? The millions of dollars insurance companies allocate towards paying off doctors being sued? The price hikes of all the other drugs that are higher in price and higher in volume required? The fact that most pharmaceutical companies take as much money as they legally can and put it into their pockets instead of conducting research?

>>8517648
>Protip retard: people without insurance can get the drug through Medicaid.

Protip retard: Who do you think picks up that bill?

Blame (((intellectual property))) laws and (((licensing agreements)))

>>8517652
Protip retard: read >>8517608

>>8517654

Protip retard: Read this >>8517611

>>8517156
He was just the ceo and doesn't even work for that company anymore. Besides he only increased the price medical insurance companies had to pay.

>>8517156
I have a feeling that Martin Shkreli is posting in this thread.

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>>8517662
>Besides he only increased the price medical insurance companies had to pay.

Where does the money that the insurance company pays come from?

Why do you think American health care costs have exploded?

>>8517677
me too you know.

>>8517175
>Prices are always dependent on supply and demand.
the supply and demand price was much lower before the medication's price was artificially inflated

>>8517194
>The rest is mostly to pay up the heavy research costs.
lol no

that's a convenient fiction created by the american drug industry to excuse their overpricing

there's plenty of international markets with drug purchase rates on par with the united states where the per-pill cost is dramatically lower. if the "increased research cost" argument held water, that wouldn't be the case

Reminder that this guy did nothing wrong and has carefully and clearly explained why he did everything he did and why rverything he did was perfectly reasonable

>>8517870
>carefully and clearly explained why he did everything he did
that's the exact opposite of what he did

>>8517873
t. someone that never listened to him explain himself

>>8517870

its actually quite reasonable in a utilitarian sense but by principle i think its definitely still controversial. I mean you would agree it would be quite unreasonable if every tom dick and harry in pharma started doing it. It only works well for people if you are the exception and you're breaking a rule that if everyone broke at the same time, it would fuck shit up.

>Aussie student writes E=mc^2 on classroom chalkboard in 3 seconds. What took Einstein so long?

Like hes said over and over again.
>didnt like the medicine
>it wasnt very profitable to begin with
>wanted further research in these kinds of medicines
>offers it for free to customers who contact him and actually depend on it
>has other medicines he hasnt skyrocketted the price of

>>8517962
>people dislike him for no reason!
kek

>>8517156
>less than $2
so i suppose that $2 accounts for the students time and education, the supervision necessary, the learning materials required, the hardware setup, the lab space, heating and lighting, ppe, production facility checks and accreditation, patent fees, quality control checks, etc, etc, etc.....
no i didn't fuckignthink so.

>>8518027
Actually yes. It was super cheap

Montel Shakrally is a son of a bitch

>>8518037
If you already own a billion dollar machine that produces drugs, then you can easily mass produce them for $1 each.

Anyway, the point is that if kids can make the drug for cheap, then how come the patients that need the drug don't just make it themselves? They deserve to get ripped off if they're too lazy to search for alternatives. Sometimes people need to think as producers rather than just blind consumers.

>>8517882
do you even know what he did?

all he did was force the insurance companies to pay for what the drug was actually worth (if you read what he's said the drug was being sold at a massive loss) which had zero effect on consumer buying capabilities, and if it did, he even put in a plan to give the drug to people that needed it but couldnt afford it for either one or zero dollars (cant remember)

he said the reason he did it was so that he could raise money that could be funneled into research for drugs that could cure much rarer diseases for which the demand was much lower and thus the research funding was similarly lacking

shkreli did NOTHING wrong

>>8517721
i hope you arent implying they exploded due to this one drug whose use wasn't even that widespread in the general population's increase in price

that would be pretty dumb anon

>>8518127
>all he did was force the insurance companies to pay for what the drug was actually worth (if you read what he's said the drug was being sold at a massive loss) which had zero effect on consumer buying capabilities, and if it did, he even put in a plan to give the drug to people that needed it but couldnt afford it for either one or zero dollars (cant remember)

When Shrekli says that including these costs would push the price back up to $750 per tablet, he is talking out of his ass.

>shkreli did NOTHING wrong

>In recent years, the Turings, Valeants, and Mylans of the pharmaceutical industry have found several creative ways to game the market and raise drug prices. In Shkreli’s case, he bought the marketing rights to Daraprim, a decades-old, off-patent drug used in a small patient population, then he created a controlled distribution system in which he could jack the price.

>Daraprim, created in the early 1950s, treats parasitic infections, namely malaria and toxoplasmosis, which can be spread by cats. Daraprim is mostly used in the US for the latter, which tends to arise as a secondary infection in HIV/AIDS patients, but it can also be a problem for pregnant women and babies.

>This stale, unglamorous drug is ideal for price gouging, which Shkreli knew when he bought it as the CEO and founder of Turing Pharmaceuticals (he later stepped down from the company after being indicted for fraud). With so few patients using Daraprim, there’s a small market. So, even though it’s off-patent and a competitor has the opportunity to make a generic, there wasn’t much interest in doing so before Shkreli came along.

http://arstechnica.com/science/2016/12/the-dangers-of-thinking-australian-high-school-kids-just-schooled-shkreli/

>>8518291
All of those quotes

And yet they say nothing

>>8517156
He has a monopoly. Don't blame him, blame the system that gave him a monopoly and blocked all other companies from selling the drug cheaper or importing them cheaper. If you owned a company that had a monopoly on a product, you could charge anything you wanted. This is why we have market competition.

>>8517156
You're a communist OP.

>>8517425
except there are very few electronic devices which people absolutely depend on to stay alive with no other alternative available with the price hiked up just because "lol it's capitalism deal with it fgt"

>>8517848
If people still buy it then it is still subject to supply & demand.

Rule 123 of business: businesses charge as much as they can get away with.

If the market is willing to pay 750 for the product then he can sell it for that much :)

>>8517156
I would pay $750 to whack this guy in the noggin a couple of times. Talk about a punchable face

I find it sad that people only talk about dollars and cents and nobody cares about ethics anymore.

>>8518708
Do you even know what the drug was for? Do you even know what he did with the revenue?

should've raised the price even higher than that desu

>>8518734
He searched for the most non-competitive environment possible to fleece dying people and the medical industry for as much as possible.

You realize that his company especially does not perform research on new drugs and has especially less justification for raising the prices so high?

>>8518771
>toxoplasmosis
>dying people

>You realize that his company especially does not perform research on new drugs
You realize it does?

>>8518771
Not only have you not done your research on why he did it or even what he did, you haven't even read the thread. Why should anyone listen to you?

>>8518781
There is no evidence that Turing is anything more than a pharma patent troll type company. Daraprim especially was not even developed by the company.

>>8518783
We all know what he claimed he did but it's complete bullshit. Call us when he comes out with a low cost alternative --never.

>>8518821
He set up a plan to give the drug to people that needed it but couldnt afford it for free as soon as he hiked the price you fucking knuckledragger

>>8517853
> doesn't understand the price of equipment
> doesn't understand rigorous testing of drugs before they can even be sold
> doesn't understand that other drugs need to be researched as well

There's quite a bit of overhead for making these drugs.
I bet you also want to seize the means of production you commie.

>>8517853
I was going to point out the flaw in your logic but seeing as your whole post is childish and illogical I won't bother.

I really expected better of /sci/.

>>8519029
This pretty much sums up the thread.

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>>8517156

>taking advantage of stupid people

>implying that's a crime

AIDs wouldn't be a problem if we just let everyone who has it die like they're supposed to.

But no, "FEED DA SICK AFRICANS UNTIL THEIR POPULATION QUADRUPLES AND THEN CUT FUNDING ABRUPTLY LMAO"

>>8517175
>It's too pricey for you? Don't get sick in the first place.
Burgers, everyone.

>>8517315
The sole function of the government should be to bomb brown people on the other side of the globe.

>>8517243
>Immortality would mean scarcity of resources.
Yeah...no. There is literally no evolutionary benefit to the body's self destruct mechanism.
Stop making things up.

>>8517166
The medication turns you into Martin Shkrelli for 2$

>>8517156
That's like cloning a complex prject on github, renaming some variables and saying you recreated the the program in five minutes vs the months of developement on the original code.

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>>8519029
>There's quite a bit of overhead for making these drugs.

The fact that Daraprim was invented in the fifties and can be made in a high School lab proves that there really isn't.

>>8519144

Are you talking about the high school students or Martin Shkrelli?

>>8519125
It turns you into a douchey albanian manlet for $2? Hmmm, I'll pass

>>8519183
I think this graph could have been designed better desu

>>8519183
The students

>>8519091
What the fuck is your problem?

>>8519183
>The fact that Daraprim was invented in the fifties and can be made in a high School lab proves that there really isn't.
How long did you think it took to invent? How long and how much was all the research and the testing and the pilot program? How much was all the distribution and manufacturing costs?

Some students did a simple reaction in a lab based on a known substance and procedure? Hardly "experimental"

>>8519091
>it's a "it doesn't affect me that means it doesn't matter" excuse

But the moment you did get sick you'd be crying for help

>>8519269
Not an argument. Everyone is always trying to serve their own interests. You can't blame Africans for trying to exploit Western wealth, and you can't blame Westerners for trying to protect it.
Wealth doesn't come with responsibility, it comes with choice - do you want to keep it close and reward behaviour that fostered it, or do you want to spread it thin and reward behaviour that didn't?

>>8517194
Isn't that how it works already? Patents have a set duration. I'm not sure about maximum prices, but at least here much of the cost of an expensive drug will be reimbursed by your health insurance (which is mandatory for everyone). In essence, this means that the government uses tax money to pay this excess cost of medication, which would probably also have to happen in your example since otherwise companies might have to work at a loss and go bankrupt eventually.

People really do need to understand that medicines aren't priced purely for their components and synthesis, though. If this was the case, we wouldn't have pharmaceutical companies because it wouldn't be profitable to make new drugs.