5000 Percent Drug Price Increase, Outrage (now Fraud Arrest)

W

WhatInThe

SF VIP
A Pharmacy company raised the price of a pill from $13.50 to $750 which was developed in 1953.

http://www.upi.com/Business_News/20...00-percent-drug-price-increase/4321442933922/

Head of company says it was unprofitable at the old price. Apparently this company that makes it has been bought and sold several times over the years.

Personally I would've sold the patent to someone else who could make it cheaper but unfortunately that probably would be big pharma.

I've heard stories of 5000% mark ups but increases???
 

You know what? I was going to get into day trading, but instead I think I'm going to start buying up 'scrips, holding them and then selling them when things like this happen ...
 

SifuPhil said:
If you read the OP article, you would have seen that the pills originally sold for $1 each. THAT is when you buy them.
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you didn't say PILLS.... you said scrips.... Where I come from.. a "Scrip" is short for prescription... which is a piece of paper. So buying "scrips" would allow you to buy the pills... but at the going rate. And the rate is not $1 now..
 
My mistake. In my world "scrips" also means individual pills.

As in, guy in raincoat comes up to you on street corner and says "Wanna' buy some scrips?"

He isn't offering me a prescription - he's offering me some pills.

Sorry for the confusion.
 
SifuPhil said:
My mistake. In my world "scrips" also means individual pills.

As in, guy in raincoat comes up to you on street corner and says "Wanna' buy some scrips?"

He isn't offering me a prescription - he's offering me some pills.




Sorry for the confusion.
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Apparently I'm not as familiar with "drug dealer" talk as you are.
 
The price gouging CEO arrested on fraud charges using company stock from previous company to pay off debts. Investigation apparently started in 2012. Three years later after bad publicity he is finally charged? Not even tried but simply charged. Makes you wonder how strong that case is.

http://www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/

Also noted that some of these companies being used as a hedgefund or loan shark by those in charge.
 
Phil---Most scripts are now done electronically to help stop the fraud being committed. I also believe that it has been suggested that patients have a preferred pharmacy for this reason. Down the road, I can see this becoming a law at some point. The day of the handwritten script by the doctor is fast becoming a thing of the past.
 
911 said:
Phil---Most scripts are now done electronically to help stop the fraud being committed. I also believe that it has been suggested that patients have a preferred pharmacy for this reason. Down the road, I can see this becoming a law at some point. The day of the handwritten script by the doctor is fast becoming a thing of the past.
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This is the way all my docs do this now -- only exception in years is when I dislocated my shoulder last year the ER doc (after putting the shoulder back in place) gave me a computer generated paper prescription for pain meds.
 
This guy testified/pleaded the fifth today in congressional hearings. They didn't like his attitude and he didn't like theirs.

http://www.newsmax.com/Newsfront/turing-ceo-smirks-imbeciles/2016/02/04/id/712724/

Guy is under federal investigation and congress expects him to testify. Um "...anything you say can and will be used against you..."

Congressional hearing on drug prices good. Subpoening a witness under investigation not smart/reality.
 
SifuPhil said:
Well, I've been a "street person" and worked in some ... let's say "dubious" ... places for many years, so yes I'm fluent in Street Talk.
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Metoo now, having lived in pretty, close proximity, LOL! Also, I know you pretty well, and know when you are having some fun! I can't take things too seriously in this world or I end up needing expensive scripts (otherwise known as prescriptions, but also know as a handful of pills, LOL):playful:
 
These guys don't need "prescriptions". Coos Bay is in Oregon, and over-run with addicts now. I don't know too many cities that aren't. If the place is near a major freeway (like 101 or I-5) you will see a lot of folks like these. I know it isn't funny, but had to share this as I do believe it is a real photo:

12439504_1219742278040252_4416481333462065985_n.jpg
 
I'd like to know the stats on folks that are addicted to prescription drugs in America. Pharmaceutical companies are the biggest drug dealer I am betting! And the most powerful since it's all nice and legal.
 
WhatInThe said:
This guy testified/pleaded the fifth today in congressional hearings. They didn't like his attitude and he didn't like theirs.

http://www.newsmax.com/Newsfront/turing-ceo-smirks-imbeciles/2016/02/04/id/712724/

Guy is under federal investigation and congress expects him to testify. Um "...anything you say can and will be used against you..."

Congressional hearing on drug prices good. Subpoening a witness under investigation not smart/reality.
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Looks like Howdy Doody on meth:( argggggggg!
 
Gosh darn you guys!! Who keeps bringin up these old threads!
 

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