I saw this guy as a monster simply because that’s the picture the media showed me. I actually agree with everything he says. The media machine is real man....
He made no sense whatsoever. The job of epinephrine is to keep you alive until you get to the hospital. It’s not a cure or even a treatment it’s a therapy. He’s trying to convince you that the medicine costs so much because it brings that much value, but really they are trying to squeeze as much money out of the patents as they can before the patents run out.
Wolfberg when you condone people such as this, you do no more than advertise your personal ignorance. This punk ass is martin Shkreli, last years most hated man in America, and should still hold that title. He's a rich Pharmaceutical CEO who raised the price of a 62yr old drug needed for protozoal infections. He raised the price from $13.50 to $750.. Hes stealing from and hurting old people while at the same time pulling in tax payers money from those on disability and Social Security. He's so full of his punk self that once he received attention for ripping people off he began posting himself on social media like facebook. One video has him with three hooded black punks threatening Ghostface Killa in a youtube video. Type it in, you'll find it. www.scientificamerican.com/article/martin-shkreli-who-raised-drug-prices-from-13-50-to-750-arrested-in-securities-fraud-probe/
+bob smith you are calling this guy ignorant but I can tell you listen to the media a little to much... Did you know that nearly 60% of the drug is given away for free? Because Martin never wants to hurt the patients pocket, only the insurance company. The insurance usually covers the drug but if the patient happens to not have insurance, they make sure the patient is given the drug, which is why so much is given away for free. I hated Martin as well a year ago but I highly highly recommend to look into both sides here
Taxi DriverAppleChapel Nope, not that part, the whole Harambe spiel. He's right on that part, the insurance companies should genuinely want to cover epi-pens, it makes sense financially for them. If people can't afford to pay for epi-pens, they're definitely not going to be able to cover hospital visits, and insurance companies are going to lose a ton of money. The fact is, right now, the average American can afford epi-pens even at the price they're asking for at the moment. It might not seem right ethically, but insurance companies and medical companies have to make money to delve into research. People have this unnerving false belief that pharmaceutical companies don't deserve to make money, they've been so demonized by the media lately. If the pharmaceutical industry doesn't make money, new research doesn't happen and we cure less disease. The more money they make, the faster we can rid this world of disease and cruelty.
Even then, you can get an Epi-Pen for free if you can't afford the pack, and their statement isn't in fine print either. Right there on Mylan's page for EpiPen payment. I'll quote them here, so if you'd like, you can just read here. Their patients can be "eligible to pay as little as $0 for up to three EpiPen 2‑Pak® or EpiPen Jr 2‑Pak® cartons-every time you fill your prescription." Not just one for free but up to three packs. That's 6 EpiPens, for free. Amazing how many other people start to type before even knowing what they're talking about. Personally, I found him shutting them down on the margins - CBS vs Mylan - to be hilarious.
Taxi DriverAppleChapel Well, in a way, we are funding a single group that's trying to find different cures, but they gotta focus on one to get any use out of it. There is a group figuring out how cancer works so we can stop it, a project of Stanford. It's called fold@home, you donate computing power and they use it to diagnose where in the protein folding process it went wrong, resulting in cancer, huntingtons, etc. It would be great if we had a trustworthy group willing to work off donations. Until then, I guess we gotta stick to what we got.
***** I was agreeing that innovation is usually driven by greed, and therefore the these pharma policies are entirely necessary. However, I also presented facts about brilliant people donating work as an example of the ideal situation.
He is such a smart guy. I could listen to him explain this stuff for hours. People vilify him because they don't actually understand how the industry works
+Ham that's true, but new drug companies need money for research. Where are they supposed to get that money otherwise? I agree the situation is fucked, but I don't blame CEOs for doing what CEOs get paid to do, I blame politicians who claim the system's working just fine and not doing shit.
Ham See, here is a good example of an ignorant person who doesn't understand anything. Insurance pays for that drug, not patients. Patients on medicare pay $1. Patients on other insurance pay $20. They give 50% of their drug away completely free for people who cannot afford it.
nope I still think hes shit. acting like $300 is not a lot of money. it is to people like me. plus he cant make drugs with no side effects. hes an idiot.
Yeah that comment was a bit out of touch with reality, but he does make a lot of good points about the industry. He also called out CBS on their bullshit pointing out their profit margins are higher lol
did you even watch his response to that? given the context, 300$ isn't a lot for people who actually make enough money, but poor people should be on a medical program if they struggle with that amount of money.
i think the issue comes where people want companies to find how much they must sell their drugs for to survive but not let the CEO and the board of directors make billions of dollars because they have record profits that year there's a difference between surviving and making sure investors are making money out the ass
i never said it was my view and i never said it was going to realistically work or be put into action all i said was that is the issues most people have with it people like idealistic practices like saying people should stop bullying people its never going to happen no matter how much we want it to but in an idealistic world it would eventually stop just like in an idealistic world drug companies would stop making billions of dollars in profit on life saving drugs
In this comments section, a bunch of 13-year-old "badasses" who aspire to be Martin Shkreli one day. I'm sure nobody knows how the drug industry works except for Hero Shkreli.
WalkingWITL They weren't as good as EpiPens, but they weren't dangerous. Consumers should be allowed to decide between high price and low risk or low price and some risk, not the government. You can have high quality at high prices, or various quality at various prices. I think poor people especially deserve the right to the latter.
TheSnorkeler So you want there to be a drug with a chance of death if you use it, as long as its super cheap? Thats not how it works. FDA doesn't want that shit on the market.
WalkingWITL I do not see the FDA as an authority. They can share their opinion, but they have no right to ban anything. If there are other options, I want access to them. I get to decide how much I want to pay and what risks I take, not unelected, crony bureaucrats.
... but they do have that authority. The way a republic works, is the small people (us), vote for people who represent what we want as a whole, and those people make decisions based on the consensus of those who put them in power. The FDA filters out the shit because we put them in the position to do so. They DO have that authority.
The real question is, why do you trust anything the man says? Hes a con artist, actually read about him. www.bloomberg.com/features/2015-martin-shkreli-securities-fraud/
you can tell that to the family that child dies because they can't afford to buy a pen and their child dies on route to the hospital!! your uneducated!
1. The drug comes in packs of two, which makes it cost $600, but Shkreli says that the cost of the drug is only $300 because you need only one pen to receive the needed dosage of the drug. That is like saying the price of buying a $300 pack of Viagra from Walmart is only $30 dollars because that's the price of one pill. 2.He lies when he says that using the Epipen saves you a trip to the ER. The Epipen is meant to get you time to travel to the ER (the effects of one dosage lasts about 20 minutes). 3.He uses a statistic about all of the diverse and mostly mundane court cases (90% of them end in guilty pleads) to apply to his unique court case. He also gives a false cause to this statistic by saying that people plead guilty because it's "emotionally draining". Is it not more likely that guilt people plead guilty and are the ones that end up in court? He also uses the action of a single person in very dire straits as evidence for his claim that the whole system is trying to force people to plead guilty. 4.He says that the investors made triple their money in the hedge fund. I didn't hear that the prosecutors are denying this; I heard that he used the money from the raid to give the investors the money. 5. Something I think that is interesting is at 13:19 -13:26 At first he says "I've do a lot of animal..." but he stops and proceeds to say instead that he has, "overseen the death of...". During that part of the video he is trying to present himself as ethical so he avoids saying that he does animal testing in order to not seem like a hypocrite. Also, who can't love humans while also seeing inferior apes as equals? :) 6. He says that he invented a drug to save the lives of three children, because he financed the endeavor. Do people who donate money to cancer research invent the cancer treatments? My theory is that he is promoting himself to gain the public's favor and is defending Mylan's actions in order to benefit himself.
+The loud mute Those seem like better points than most of the critics in this comment section have given. Have you ever thought about contacting him directly to bring them up?He seems fairly open to discussion.
+Nolan Pratt Martin Shkreli was a huge sanders supporter. He's got "Bernie 2016" in the background of a lot of vids on his channel and donated 2,000 to his campaign.
Shkreli is the fuckin MAN!!! hhahahaha his demeanor always cracks me up. I love how he is always ballin in te system of leaving a trail of butthurt everywhere he goes.
"Butthurt"? He took advantage of Sick people that needed medicine and raised the price of that medicine by 5000%. What is wrong with you. Is that what you call a "man"?
ZELOR 22 you clearly know absolutely nothing about the pharmaceutical industry. The drug that he raised the price on is given away for free to anyone who is considered to be impoverished, or on medicaid/medicare...and even if you are not too poor to afford the drug it is still being paid for by your INSURANCE at the end of the day. You need to get a little education brutha..
An Epi Pen is temporary, it provides enough relief and time for someone to get to the ER. So on top of the Ambulance ride and a visit to the ER, they are now paying $300 each epi shot. His answer is BS.
He's a con artist. I don't get that he's capable of most emotions. The kind of guy who could take you for all you're worth and not feel guilt about it. If you want to fall for his words and not look deeper, I guess he does seem like a decent human being.
Well spoken does not by default make him worthy of respect. Sociopaths usually are well spoken aka silver-tongues. He pretends to serve a noble cause but contradicts himself shortly after. He made memes about harambe but not the thousands of apes, monkeys, dogs and rats he oversaw the death of. He's playing to people's emotions. He's not genuine. He thinks great apes deserve rights but not monkeys,dogs or rats? His argument about epipens is false. It does not save you a trip to the ER. It temporarily suspends the allergic reaction to allow you to get to medical help. Read the epipen instructions. 3) get medical help. He is just trying to get public support before his trial.
Because you aren't looking deep enough. Maybe you haven't been seriously ill yet in your life to understand that a medication or procedure your life depends upon causes you worry and stress, sometimes leading to suicide and giving up because, overnight, you can no longer afford it and have access to it. Martin doesn't see the anguish behind the things he has caused, he can't even imagine the faces of such people. Let's hope you @ShotClan never get ill and have someone like Martin cause you great distress. Until then, you'll not be able to understand why this sociopath is not well liked.
Martin: It's $300 dollars, I pay more for my iPhone, people pay more their iPhones. Woman: Yeah but you don't need your iPhone. She just proved his point, people pay a shit load for stuff they don't need like their phones, but when it comes down to paying less than that for a drug to save their life, they get mad.
not at all. of you make less than 18k a year. Buying your kid this drug on such a regular basis. just one package is one paycheck. more and more people are living on minimum wage.
Johnny Gat yeah that's assuming the only people complaining are people with I phones... and that they buy a new I phone regularly multiple times a year
+puma.will. pounce easy to say. Doesn't happen though. it would be bad if it did. we need population growth to keep everything work right. we are only slightly having more kids per person last time i checked. if all poor people stopped having kids it would be negative. if that happens i hope people still get there social security checks.
+He is Typing...... You have to understand it's very easy to blame the pharmaceutical companies. However, if they can prevent a 20K hospital bill for the consumer, they're doing a service.
Miles Medaris You said before it is all about supply and demand. For one of the drugs he was orignaly selling them 13 dollars for one pill then he raised the prise by 5000%. If he orignaly had the capability to sell them for such a cheap price,then why did he raise the price when demand for the pill got higher.
+He is Typing Because he wanted to make a profit? He actually bought the right to Daraprim, and then raised the price from the point the previous owners were selling it at. Drug companies devote huge amount of their overhead into R&D into new, life saving drugs; which means they need to operate with a high profit margin.
I can't be the only one who can't decide whether they love or hate shkreli... Also... once he gets onto the harambe segment, he goes full troll and it's hilarious. YOu can tell how serious he's trying to come across as, inside he's probobly ROFLing
That is directly the reason why this situation can happen. EpiPen is a single injection syringe of epinephrine. It costs no more than $1 to manufacture, but the FDA shut down all competitors, and over regulates in general.
FuckOffAlready I worked in the drug industry. Manufacturing side. The FDA is about safety. Don't bring up a point if you have no fucking clue what you are talking about. If you really want a bunch of executives opening a bunch of companies to make drugs with the prime directive to make money you're playing with a fire of unimaginable consequences.
Michael Snyder "The FDA is about safety" lmao The FDA is one of the most fraudulents government agencies there is. But whatever floats your boat sheep.
This man is amazing. He is the only person I’ve ever seen who gets called into a news station for the purpose of being berated, who is able to completely flip the narrative so effectively that the interviewers end up being the ones changing the subject or cutting the interview short. Absolutely genius. He knew he would become public enemy #1 when his company threatened to disrupt the kahoots that politicians, investors, drug companies, and media outlets all have together, but he did it anyway just to try to help the people suffering from unproffitable diseases that these same conglomerates ignore. Labeled the posterchild of everything wrong with capitalism, in reality he has a greater heart than any of us and an even greater mind. Hero is the only fitting definition. We haven’t seen the end of this man.
@@lambda2857 u don’t know how this system works this guy is opening eyes what’s sad is the media machine makes ppl like u the real bad guys and ur probably not a bad person jus easily manipulated by the real bad ones but pls I invite u to think freely then I suggest if ur going to give financial advice on any level you should learn how finances, business ect really work because it’s counterproductive to give advice on something u have no clue as to what ur actually talking about
In the UK, and Epipen costs £26.45, (about $35). And if you have a prescription from a doctor, it's reduced to just £8. If you're poor or disabled, then a prescription costs nothing.
***** That's true. I work in this industry and there a lot of cures on the horizon, but what is it all for when people cannot afford access to it. It's un-American when all Americans cannot benefit from our collective investments.
Martin seriously makes trolling look like a sport. Its honestly incredible. The media (including this interview) tries everything to make him look so bad and he just plays it cool. Hes like the Michael Jordan of trolling I swear
This guy is trolling hard. He contradicts himself within seconds saying primates shouldn't be used in drug testing yet he's overseen thousands of them die.
They have to die to benefit humans. If no testing was done on them, we wouldn't have some of the amazing drugs we have today to save lives. Yes, animal life is valuable but most people can agree that Human Life > Animal Life. Many people wouldn't be alive today and some of you commenting may have not have even been born without animal testing.
Well I'm a first year medical student. And what do my political beliefs matter to you? If you are my patient I'm going to do my best to help you. It doesn't matter if I'm a capitalist or not.
Dont you free market weirdos ever wonder why there are no examples of large successful economies that practice unfettered capitalism? Do you ever stop to think, maybe there is a reason for that?
He's clearly a sociopath, but nothing he's said here is unreasonable. He's given legitimate defenses of profit margins, and provided reasonable solutions to both the immediate problem of people being unable to pay for their EpiPen as well as how the government could prevent something like this from happening in the future. And, I should note, he gave some important context (not only the bit about CBS having a higher profit margin than Mylan), particularly the cost versus hospital and ambulance, putting a fair share of the blame of insurance companies who won't pay for the injectors. I personally agree with him that medicine should be above capitalism, that it should be regulated and provided by the government. The utilities comparison was apt. As long as they're not getting in the way of innovation, generic drugs should be the government's responsibility. We'd all be better off for it.
American Strength Because nobody remotely intelligent would try to invalidate an argument by going "Well, hes smarter than you!" that the kind of stuff children resort to because their brains are underdeveloped and they lack the capacity for nuanced thought.
Nerd Strangler He has been apart of large investment groups, a hedge fund manager and a corporate executive of multiple companies including big pharma. So in terms of this topic he probably quite a bit more well read than most. So was I wrong or do I have to explain myself to you more? Its RU-vid, not reddit. I don't come here to be nice I come here to yell at idiots.
Doesn’t matter what you think of him. If he told them he was going to be taking that interview while standing up, genius move. Literally makes him look like a regular on the show, and this enhances his *perceived* reliability and trustworthiness
Exactly. Even in this video he makes statements that would go against his best interests like saying there should be government ran pharmaceuticals or price fixing. Even goes as far as to say he wish testing on animals weren't a thing. All things that if the government ever did intervene with would negatively impact his business ventures.
If he had been as genuine and professional last year as he is in this video, he would not be viewed as such a villain. He really presented himself in a great way here and he has a great opportunity to actually do some good.
thankyou to these reporters for giving him time and respect to make his points. This was a very constructive discussion because even though the reporters wanted to ask the headline questions, they were also open to listening and having a great talk.
This lady is really bright. Great questions from her. Especially the one in the end where she questions the discrepancy between his compassion for animals and not for humans.
The biggest question is why can Mylan do this? I don't mean price controls, but rather why the there is no competition. The blame lies directly at the hands of government bureaucrats over regulating and directly stopping competing products.
New drugs are very expensive to research and develop. Pharma companies don't create competitive drugs for fun, they do it for profit. Creating a drug that nobody else makes yet unlocks an entirely new market which you can control. If you want to be the competition for a pre existing drug, you won't own the entire market, you'll only get a small piece of the pie.
He makes a lot of statements about the importance of drug R&D and development but the mission statement of Turing was to 'acquire outdated and expired patents on old medications and to upmark the price for windfall profits'. In his Vice interview he openly admits to Daraprim being a bad, outdated product that the previous owner didn't look after and yet his company did nothing to improve the product nor to justify the increased cost.
an epipen does not save you all of the costs of going to a hospital. it is important to still seek emergency medical care after giving oneself an epinephrine injection. it simply buys you time to seek more comprehensive medical care.
They glossed over it, but Martin brought up a great point about how we should have a goverment organization that produces affordable drugs as long as it doesn't regulate or affect innovation. This is a fantastic idea, as long as it can be done in a way that makes sense. If it ends up being a bloated beuracracy that costs more money than it's worth then we shouldn't do it. However, if it can be streamlined into being a profitable and affordable gov agency, then maybe we can do something creative like use the profits to pay down our debt, create research grants for more drugs, or scholarships to educate more future scientists. There is really no reason it can't succeed (in theory), as long as those involved are determined to make it work.
I'm not going to lie, a year or so ago when I heard about the Daraprim fiasco, I really hated this guy for the media's portrayal of the situation. That's why I rarely listen to the media anymore. He's highly intelligent, well spoken, and makes some very compelling points. I like that he's got a broad scope of ideals, rather than just the stereotypical conservative vs. liberal, one-or-the-other mindset.
God forbid any of these analysts say, "good point Martin" or "wow, I never thought about it like that before". Instead, Martin replies with a strong answer and they move on to another angle of attack and never address his response.
Holy shit he roasted them so well. CBS makes content and Mylen makes a life saving drugs with lower marginal profits checkmate interview should have been over at that point
If you had just read articles on mainstream media and followed their coverage of Mr Shkreli, you would think he's a villain. But when you watch Mr. Shkreli himself speaking, you'll understand how media lies...
I side with Martin when it comes to his own drug issue that came up last year. But with EpiPen, you still need to visit the ER and call an ambulance. EpiPen is only meant to save you time before dying to get the proper medical care.
they were way out of their depth interviewing this intellectual genius. funny af when he put them in their place about cbs margins being more than pharma companies that make life saving drugs, and cbs makes '' content'' LMAO