Quoted from woody76:
what we really need to be talking about is the idiot who paid 2 million for a wu-tang recording. Now the federal gov't owns it and the dude who bought it is in prison. He is also the dirt bag who jacked up the prices of cancer and aids medicine to get rich. These are the type of people who overpay for stupid crap.
Skreli bought the wu-tang album and released it FOR FREE to EVERYONE instead of keeping it privately like anyone else would have.
Not true, Skreli did not sell to patients, he was a manufacturer, they sell to the insurance companies and the middlemen who then rape the consumer and are responsible for destroying the market with astronomical prices.
He decided to charge the middlemen criminals the same 1100% price hike they were charging the consumers. Notice how if you ask the pharmacy they tell you your drugs cost $960 bucks for 30 little pills? They only cost $30 to make. The manufacturers don’t make that money, but the insurance companies make BOATLOADS on insane markups.
Once Skreli started beating the insurance companies at their own game (and giving away the life-saving drugs FOR FREE to patients who’s insurance companies were denying them or charging outrageous prices) the FDA and elected officials came scrambling to protect their valuable lobbyists and campaign donors.
Skreli was a GOOD GUY and unfortunately when you beat the scumbag criminal companies (big tech, big pharma) at their own game they make sure the government destroys you and takes all your assets.
A stay at the ER doesn’t actually cost 68 THOUSAND DOLLARS it’s all bullshit markups.
Example: Eli Lily has only raised the price of Insulin marginally, we’re talking like $135.
Meanwhile the “list” (price insurance companies charge you) is around $600+
Doesn’t make sense does it? Why does the middleman insurance company make $500 for doing literally nothing?