Showing posts with label Drug. Show all posts
Showing posts with label Drug. Show all posts

Friday, February 5, 2016

Why GOP Complaints about Pharma Price-Gouging of Vets is a Hypocritical Smokescreen

by Nomad

One Republican complaints against a drugmaker's price-gouging may be applaudable. As long as you have only half of the facts. 

In yet another example of mainstream media failing to properly inform the public, we can point to CNN and its posting of US Rep. Jeff Miller's op-ed piece. The article demonstrates how, when critical information is left out of a story, the news becomes nothing less than a lie.

The subject of Miller's piece is price-gouging by pharma companies, particularly when it comes to medication for veterans. The company in question, Gilead Sciences, has been scrutinized on several occasions in this blog. (here, here and here)

In his article, the Congressman for Florida's First district writes:
If not for the service and sacrifice of those who have worn the uniform, the United States would not be the extraordinary place it is today. Unfortunately, this concept seems lost on the people at drugmaker Gilead Sciences.
Whenever we try to qualify patients by who "deserves" life-saving treatments more, we run into ethical questions. It is all in keeping with Republican efforts to be percieved as actually caring about veterans.
The record tells a different story. In fact, the GOP has a fairly dismal record when it comes to veterans. Last year, the House Appropriations removed more than $1.4 billion from President Obama’s proposed 2016 budget. As one source notes:
As a result of the cuts, it was estimated that 70,000 fewer veterans would be able to receive needed care.

Thursday, December 17, 2015

Bloomberg: Price Gouging Pharma CEO Shrekli Arrested on Securities Fraud Charges

by Nomad

It was really only a matter of time before Martin Shrekli's wings were clipped. And nobody's crying for him.


From the "it couldn't happen to a nicer guy" files...

This year, Turing Pharmaceuticals AG, CEO Martin Shkreli outraged the public sensibilities by raising the price of a HIV treatment drug from $13.50 to $750. 

Shrekli initially scoffed at the firestorm against the decision. He took to Twitter and other social media to essentially give the middle finger to anybody that criticized him.
When the controversy grew louder, he vowed to lower the price. However, it was later reported that he had failed to do so. His critics- which ended up being most of the nation-claimed that Shrekli had never had any intention of lower pricing at all but it was just a ploy to quell the growing public anger at both his greed and arrogance.

It soon became part of the political debate. A spokesman for Democratic candidate Bernie Sanders returned campaign donations from the CEO saying they could not accept to money “from this poster boy for drug company greed.”
Donald Trump - of all people- called Shrekli a "spoiled brat."