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

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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

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Democrat Demands DOJ and DHS Reveal How Many Pardoned ‘Insurrectionists’ Have Been Hired

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A prominent Democrat is demanding to know how many January 6 “insurrectionists” have been hired by the U.S. Department of Justice and the U.S. Department of Homeland Security, as critics warn that federal agents under President Donald Trump are increasingly engaging in violent enforcement actions.

“We know that several participants in the January 6, 2021, attack on the U.S. Capitol have been rewarded with high-ranking positions in the Department of Justice (DOJ),” U.S. Rep. Jamie Raskin (D-MD), the Ranking Member of the House Judiciary Committee, wrote to Attorney General Pam Bondi and DHS Secretary Kristi Noem.

“However, it remains unclear how many more have been invited to join the ranks of this Administration, including among the masked Department of Homeland Security (DHS) agents and officers that have dragged, tackled, beaten, tased, shot, and killed citizens and non-citizens alike in communities across the country,” he added.

READ MORE: Pirro Backtracks as Powell Investigation Rapidly Goes Off the Rails

According to Raskin, Jared Wise, a former Supervisory Special Agent with the Federal Bureau of Investigation (FBI), “stormed his way into the Capitol Building” on January 6, 2021.

“As he did so, he taunted and threaten police officers defending the building and the ones inside, screaming: ‘You guys are disgusting. I’m former—I’m former law enforcement. You’re disgusting.”

Raskin included additional language attributed to Wise, then wrote that he “has never expressed remorse or contrition for his criminal actions.”

Wise was pardoned by President Donald Trump, along with nearly 1,600 others, “including hundreds of cop beaters.”

“Today, Mr. Wise serves as senior adviser in the office of the Deputy Attorney General, alongside another January 6th participant, Ed Martin, the U.S. Pardon Attorney and head of the DOJ Weaponization Working Group,” Raskin wrote.

Congressman Raskin also blasted the recruitment and vetting processes being used by the Trump administration.

“For its part, DHS seems to be courting pardoned January 6th insurrectionists. It uses white nationalist ‘dog whistles’ in its recruitment campaign for U.S. Immigration and Customs Enforcement (ICE) agents that appear aimed at stirring members of extremist militias, including the Proud Boys, Oath Keepers, and Three Percenters, which participated in the insurrection,” he stated. “The recruitment campaign began with a $50,000 sign-on bonus, removal of the college degree requirement, and a relaxed vetting process.”

“Who is hiding behind these masks?” Raskin demanded to know. “How many of them were among the violent rioters who attacked the Capitol on January 6th and were convicted of their offenses? The American people deserve to know how many of these violent insurrectionists have been given guns and badges by this Administration.”

READ MORE: ‘Organized Gangs of Wine Moms’ Are Impeding Federal Agents Says Fox Columnist

 

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Pirro Backtracks as Powell Investigation Rapidly Goes Off the Rails

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Jeanine Pirro, the Fox News host turned Trump U.S. Attorney, appears to be quickly backtracking in her office’s investigation of Jerome Powell. The esteemed Federal Reserve Chairman announced on Sunday that he is being investigated by the Trump Department of Justice, sending markets — and prominent Republicans — spinning.

Pirro, in a Monday night social media post, insisted that Powell has not been indicted, saying: “The word ‘indictment’ has come out of Mr. Powell’s mouth, no one else’s.”

According to The Daily Beast, Pirro issued her “ultra-defensive statement” after “major backlash” against her investigation into the 72-year-old Republican investment banker and lawyer who has steered the Federal Reserve since 2018, when President Donald Trump appointed him chairman.

READ MORE: ‘Organized Gangs of Wine Moms’ Are Impeding Federal Agents Says Fox Columnist

The Daily Beast reported that Pirro’s investigation is “an inquiry that even Republican lawmakers have blasted as a revenge plot against one of the president’s adversaries that threatens the independence of America’s central bank.”

Suggesting that Pirro may have gone “rogue,” the Beast added that reports suggest “Pirro failed to obtain the necessary sign-off from her superiors at the Department of Justice before subpoenaing the Federal Reserve as part of her probe, according to Bloomberg.”

It appears that others were also left out of the loop in the unprecedented, high-profile investigation.

“Sources also told NBC News that Pirro’s office did not contact the White House or the Treasury Department before issuing the subpoenas, and that Federal Housing Finance Agency Director Bill Pulte—who spearheaded the push to investigate the Federal Reserve—was also allegedly left in the dark.”

“Investors are doubtful of her success,” Bloomberg News added.  “While U.S. assets initially sold off on news of the investigation in early trading Monday, stocks and bonds bounced back by the end of the day. That suggests traders think Republicans will find ways to dial back the probe given the critical importance investors assign to a Federal Reserve that’s free from political influence.”

On Sunday, Chairman Powell revealed that he is under a criminal investigation by the U.S. Department of Justice, an investigation stemming from his congressional testimony on the renovation of Federal Reserve buildings. The Fed is fully self-funded, and that renovation is not funded by American taxpayers.

READ MORE: Trump ‘Laser-Focused’ on Affordability Says White House After Calling It a ‘Hoax’

 

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Trump ‘Laser-Focused’ on Affordability Says White House After Calling It a ‘Hoax’

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The White House says President Donald Trump has been “laser-focused on making America affordable” since taking office. Just one month ago, President Trump called affordability a “hoax” perpetrated by Democrats.

President Trump has recently attempted to preserve his sweeping tariffs amid Supreme Court review, has engaged in foreign policy messaging involving Venezuela, Iran, and Greenland — including promoting himself as the “acting President of Venezuela” — and has responded sharply to protests involving federal officers.

The president campaigned on lowering the cost of living on “day one,” but nearly 51 weeks into his second term, inflation remains high.

White House Press Secretary Karoline Leavitt told Fox News that the president would travel to Detroit on Tuesday to deliver a speech about “all of the positive economic news that we continue to see as a result of his agenda.”

READ MORE: ‘Organized Gangs of Wine Moms’ Are Impeding Federal Agents Says Fox Columnist

“So tomorrow, he looks forward to traveling to the great state of Michigan, a state he won big, to not only tour a factory that produces Ford F-150s, and is going to be hiring more, and producing more trucks right here in the USA because of President Trump’s effective tariff policies,” Leavitt said.

Trump narrowly won Michigan, taking less than half of the vote and besting Vice President Kamala Harris by 1.4 percentage points.

Leavitt said that “mortgage rates that are falling under 6% for the first time in years,” “the national average of gasoline is the lowest that it’s been in five years,” and core inflation is “at its lowest level in five years.”

She suggested that “with a little bit of patience, the American people are going to continue to see that the best is yet to come,” and claimed that Trump “has a proven economic formula that works.”

Leavitt also said that Trump has a housing plan “in the works” and a healthcare plan “in the works,” and vowed that Americans will “continue to hear from the president, and he’ll continue to hit the road across the country to speak directly with the people he loves most, the American people.”

READ MORE: Trump ‘Losing Political Fight’ to Fed Chair: Analyst

 

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