Anybody hear about the drug that went from $15.00 to $750.00 overnight ?

[Mikey]

I'm sure anybody that invested with this guy still have tons of money from other shady deals.

[thunderbolt]

Just wanted to bring this thread back for a minute to point something out. On Sept 22, 2015 when the thread was started, Valeant was $216.76 per share. Today it's $25.48. A lot of people lost a lot of money on this company.

That's a shame, profiting on the sick, boo hoo. Sometimes people reap what they sow.

[Duncan]

Yes you were the only one who bragged about their stock raising. It serves the investors right for not jumping off when they found out the CEO was more crooked than a barrel of snakes.

Not sure "bragged" is fair. Here's what I said: "Yeah, I understand the investments made in research and letting drug cos make enough profit to justify that expense, but jacking up prices on old drugs bothers me. Maybe if you can't beat ém join ém: a lot of the drug cos are publicly traded. GSK has a nice 6% dividend yield..."

The stock I mentioned, GSK, is basically flat (up about 5%) from Sept 22. The logic remains: if you think drug companies are making obscene profits, then let them do it on your behalf.*

*Unless management steals it all, and then you're doubly screwed.

[Mr.Marion]

Not sure "bragged" is fair. Here's what I said: "Yeah, I understand the investments made in research and letting drug cos make enough profit to justify that expense, but jacking up prices on old drugs bothers me. Maybe if you can't beat ém join ém: a lot of the drug cos are publicly traded. GSK has a nice 6% dividend yield..."

The stock I mentioned, GSK, is basically flat (up about 5%) from Sept 22. The logic remains: if you think drug companies are making obscene profits, then let them do it on your behalf.*

*Unless management steals it all, and then you're doubly screwed.

I don't think investing in an immoral company was a tasteful suggestion.

But the bad PR sinking the companies stock price was water evening itself out.

[Duncan]

I basically agree. That's why I threw out the GSK symbol, and not Valeant's. MRK and PFE are also blue chip names in the industry. I'd argue that in the aggregate, the industry does more good than harm - at least those companies in the business of creating new drugs. Valeant's business model was more like that of a hedge or private equity fund, and they allegedly played games with their distribution network to prevent generic manufacturers from acquiring enough drug for testing. Personally, I'm more annoyed with regulators for allowing that situation to (allegedly!) exist.

[Duncan]

Quick update: Shkreli was just sentenced to 7 years in prison for securities fraud unrelated to raising the price of that drug.

[Mikey]

Sweet !!!

His new job is going to be tender of the prison salad bar

[thunderbolt]

should be a nice prison wedding for him.

[EmergencyIan]

Couldn’t happen to a nicer guy!

- Ian

[Mikey]

should be a nice prison wedding for him.

Big Bubba Bakowski will finally get the bride he always wanted

[enyawd72]

Big Bubba Bakowski will finally get the bride he always wanted

My sentiments exactly Mikey. With any luck he'll get HIV while he's in there and need his own drug for the rest of his miserable life.

[hobub]

Capitalism at its finest ...

- Marty

No, combined with greed and at its worst. Yeah the greedy Epipen guy. I remember this because my son has one for nut allergies. They used to be affordable.

[EmergencyIan]

I read that he was crying in court. Couldn’t apologize enough. Cried so much that the judge gave him a box of Kleenex. He told the judge that he thought the sentence was too harsh.

Oh well.

- Ian

[enyawd72]

I read that he was crying in court. Couldn’t apologize enough. Cried so much that the judge gave him a box of Kleenex. He told the judge that he thought the sentence was too harsh.

Oh well.

- Ian

LOL! Makes me think of Cartman on South Park...Mmmmm your tears are so sweet...yummy!

[cjefferys]

Gee, couldn't have happened to a sweeter guy, he's a real charmer.

No, combined with greed and at its worst. Yeah the greedy Epipen guy. I remember this because my son has one for nut allergies. They used to be affordable.

Yeah, both my kids need Epipens so we have four at any given time (one each for home, and one each stored at their school). I'm glad our insurance covers it (especially now that Ontario pays for prescription drugs for anyone under 25) because I can't imagine having to actually buy four at one time (and I've heard that they are even more expensive in the states). The high price boggles my mind though, I've read that each one only contains a couple dollars worth of medicine, and the delivery system was designed by the US military, so how did a private company end up with the patent for that?