Connect with us

Martin Shkreli’s Turing Pharmaceuticals, Which Raised AIDS Drug Price 5000%, Loses $14 Million

Published

on

Daraprim maker loses $14.6 million in latest quarter.

In August, the world was introduced to Martin Shkreli, the former hedge fund manager who bought the rights to a decades-old drug necessary for some AIDS and cancer patients. He raised the drug’s price overnight, from $13.50 a pill to $750 a pill, a jump of over 5000 percent.

Shkreli, also known as “pharma bro,” defended the decision, claiming the need for a newer drug, despite many physicians who disagreed, and despite seeking alternative research funding.

Last week, Turning released its financial results for the third quarter. The company lost nearly $15 million across those three months, a total of $14.59 million. 

“We are very excited about the potential for Turing’s pipeline of new drug candidates to help patients in need of better medications,” Shkreli said in the statement.

WATCH: SNL Hysterically Mocks Kim Davis, Josh Duggar, Martin Shkreli In Miley Cyrus Sung Farewell To Summer Song

Daraprim “is used by patients with AIDS or cancer to fight the Toxoplasma gondii parasite. More than 60 million Americans carry the parasite without coming to harm, but it can lead to seizures, blindness or neurological damage to those with a compromised immune system,” IFL Science reports.

Bernie Sanders and other Senators sent Shkreli a letter asking him to testify and to produce documents related to the price increase. Hillary Clinton promised to work to ensure drug companies don’t gouge customers.

The Sun Times reports today that HIV activists had “stormed the lobby of the company in October.”

After national outrage, Shkreli succumbed and promised to reduce the drug’s price, without revealing by how much, within a month. He has yet to do so. The New York Times earlier this month reported the price reduction would come by year’s end, and be only “modest,” according to Shkreli.

Meanwhile, another company decided to sell Daraprim at essentially what it costs to produce: $1 per pill.

 

Image: Screenshot via CNBC/YouTube

Continue Reading
Click to comment
 
 

Enjoy this piece?

… then let us make a small request. The New Civil Rights Movement depends on readers like you to meet our ongoing expenses and continue producing quality progressive journalism. Three Silicon Valley giants consume 70 percent of all online advertising dollars, so we need your help to continue doing what we do.

NCRM is independent. You won’t find mainstream media bias here. From unflinching coverage of religious extremism, to spotlighting efforts to roll back our rights, NCRM continues to speak truth to power. America needs independent voices like NCRM to be sure no one is forgotten.

Every reader contribution, whatever the amount, makes a tremendous difference. Help ensure NCRM remains independent long into the future. Support progressive journalism with a one-time contribution to NCRM, or click here to become a subscriber. Thank you. Click here to donate by check.

'BLOOD ON HIS HANDS'

Trump’s ICE Is Using Torture to Quickly Deport Africans Back to a Deadly War-Torn Country

Published

on

Trump ICE deportations Africa

The central African country of Cameroon is currently experiencing a four-year separatist conflict that has killed over 3,000 people and displaced half a million more with “extrajudicial killings, forced disappearances, arbitrary and unlawful detention and torture.”

But Cameroonians who fled to the U.S. to seek political asylum here as refugees are experiencing torture as well from private prison guards and agents with Immigration and Customs Enforcement (ICE) in Louisiana and Mississippi.

A new report from the Southern Poverty Law Center and Freedom for Immigrants includes six Cameroonians who say they were physically forced to sign deportation documents that they didn’t understand and threatened with choking, pepper spray, physical pain and prolonged detention if they refused.

One accuser said that ICE agents and private guards stripped him naked from the waist down, exposing his genitals and buttocks to a room of 10 people, while forcing him to sign. Others said they and other refugees were fed substandard food, subject to a humiliating full-body strip search, and housed alongside federal prisoners while waiting for their court proceedings.

If true, the actions would violate Louisiana state and federal law, the international Convention Against Torture and Other Cruel, Inhuman or Degrading Treatment, which the U.S. has ratified, as well as ICE’s own policies within its 2011 Performance Based National Standards, Newsweek reports.

Trump has deported anywhere from  94 or 116 Cameroonians back to their home country since October. The Cameroon government has detained refugees who return to their shore to interrogate them for any separatist ties.

Continue Reading

'CAN'T WE END THIS ALREADY?'

Trump Is Already Planning a 2024 Run Just So Biden Won’t Get All the Press Attention

Published

on

President Donald Trump is reportedly discussing launching his 2024 re-election campaign kickoff event on January 20 just to overshadow President-elect Joe Biden’s inauguration. Yes, really.

The Daily Beast has cited three officials who Trump has reportedly discussed the idea with. He is assessing which big-dollar donors would support his bid and which political underlings would remain loyal to him just to benefit from whatever happens.

“Trump’s scheming about a future White House run is both an implicit recognition that he views his own current legal efforts as longshots and a reflection of his inherent desire to maintain political power and public attention,” The Daily Beast writes.

According to Bloomberg News, National Security Adviser Robert O’Brien, reportedly told Trump, “If you do that—and I think I speak for everybody in the room—we’re with you 100 percent.”

Trump still has yet to officially concede. On Thursday he told reporters, “It’s going to be a very hard thing to concede because we know there was massive fraud.” Trump has been unable to prove his repeated claims of “massive fraud” in over 30 lawsuits which have either failed, been dismissed or withdrawn by his own re-election campaign.

Unfortunately for Trump, two comedians have already snatched up DonaldJTrump2024.com and are using the site to repeatedly call Trump a loser. They offered to give Trump the URL if he’ll concede and call himself a sad loser via Twitter.

Continue Reading

'LAUGHABLE CARTOON CHARACTER'

Comedians Bought DonaldJTrump2024.com Just so They Could Mock Him as the Loser He Is

Published

on

Donald J Trump 2024

Two comedians Jason Selvig and Davram Stiefler (aka “The Good Liars”) purchased DonaldJTrump2024.com and set it up to mock President Trump for refusing to concede the election, planning a 2024 re-run, and ripping off his followers.

The site, which looks almost identical to Trump’s actual website, DonaldJTrump.com, calls Trump a “loser” six times and has a fictional quote from Trump stating, “I lost the 2020 election.” It also has a banner that says “Click here to donate to a PAC that has nothing to do with my legal defense team.”

The banner refers to the fact that while Trump has been begging his supporters to donate to his so-called “Official Election Defense Fund” in hopes of overturning the election in the courts, the legal fine print on his money asks says that if anyone donates less than $8,000, the money won’t go to his legal fights at all but will instead go to the Republican National Committee or “Save America,” a Trump leadership PAC (political action committee), according to Reuters.

The comedians wrote to Trump in a November 24 tweet, “Hey @realDonaldTrump we’ll give you DonaldJTrump2024.com if you tweet ‘My name is Donald Trump and I lost the 2020 election by A LOT. I am a loser. SAD!”.

Continue Reading

Trending

Copyright © 2020 AlterNet Media.