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Catherina

(35,568 posts)
Tue Sep 22, 2015, 09:53 PM Sep 2015

Congressman Requests ‘Pharma Bro’ Who Jacked Up Price Of Life-Saving Drug Testify Under Oath

Congressman Requests ‘Pharma Bro’ Who Jacked Up Price Of Life-Saving Drug Testify Under Oath

by Judd Legum Sep 22, 2015 9:01pm



Is the “Pharma bro” coming to Congress? He will if Rep. Elijah Cummings (D-MD) gets his way.

Cummings, the Ranking Member of the House Committee On Oversight And Government Reform, has requested a hearing next week to question Martin Shkreli, the former hedge fund manager known as the “Pharma bro.”

Shkreli has attracted attention since he hiked the price of Daraprim, a drug used to treat severe infections in AIDS patients and infants, by 5000%. Shkreli is the CEO of Turing Pharmaceuticals.

In an interview, Cummings called Shkreli’s actions “criminal.”

As a member of the Democratic minority, Cummings cannot unilaterally call the hearing. But he wrote a letter to Chairman Jason Chaffetz on Tuesday, requesting a hearing be scheduled.

Cummings Letter Re: Martin Shkreli
...

http://thinkprogress.org/health/2015/09/22/3704547/congressman-requests-pharma-bro-who-jacked-up-price-of-life-saving-drug-to-testify-under-oath/
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Congressman Requests ‘Pharma Bro’ Who Jacked Up Price Of Life-Saving Drug Testify Under Oath (Original Post) Catherina Sep 2015 OP
Now "Pharma-Bro" is reducing the price. murielm99 Sep 2015 #1
Ah, but he hasn't said by how much he is reducing it by Fortinbras Armstrong Sep 2015 #3
I think he "reduced" the cost to twice what it was, before the giant hike Siwsan Sep 2015 #11
That's a different recent case of price jacking. yardwork Sep 2015 #24
He's my congresscritter. Stinky The Clown Sep 2015 #2
Either Cummings or Edwards swilton Sep 2015 #8
There are rumors that Cummings will stay with his seat and not run for Babs' seat Stinky The Clown Sep 2015 #16
Good! Expose this bastard for what he is. nt 7962 Sep 2015 #4
This investigation needs to come up with some way to make jwirr Sep 2015 #5
Wait...so price gouging is illegal now!? Rex Sep 2015 #6
free markets, baby ejbr Sep 2015 #10
would a republican, ANY republican, do this? remember this if your candidate is not the nominee saturnsring Sep 2015 #7
now THIS should be good Skittles Sep 2015 #9
I told you maindawg Sep 2015 #12
That $750 pill sells across the border in Canada for $1.67 (nt) Paladin Sep 2015 #19
Oh an insurer will pay it, assuming this Pharma Bro guy can find the truedelphi Sep 2015 #23
Cummings is a real congressperson, but most of his peers are just as criminal as Shkreli. nt valerief Sep 2015 #13
And at a minimum, investigate the source of the funding. forest444 Sep 2015 #14
Looks like Canada area51 Sep 2015 #15
I think things like this should be confiscated by the government. Waiting For Everyman Sep 2015 #17
Well with the GOP so concerned with other matters mountain grammy Sep 2015 #18
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^N/t truedelphi Sep 2015 #22
The Drug and Medical Association has the strongest Lobbyist in DC spending about rladdi Sep 2015 #20
DIDN't we have a "Healthcare" debate truedelphi Sep 2015 #21

murielm99

(30,745 posts)
1. Now "Pharma-Bro" is reducing the price.
Tue Sep 22, 2015, 11:46 PM
Sep 2015

Will Cummings still call for a hearing? I think he should, he and others.

Fortinbras Armstrong

(4,473 posts)
3. Ah, but he hasn't said by how much he is reducing it by
Wed Sep 23, 2015, 11:51 AM
Sep 2015

If he is called, he should be asked what it costs to produce one of those pills.

Siwsan

(26,269 posts)
11. I think he "reduced" the cost to twice what it was, before the giant hike
Wed Sep 23, 2015, 07:09 PM
Sep 2015

I'm trying to remember where I read that. If I find it, I'll update.

Stinky The Clown

(67,808 posts)
2. He's my congresscritter.
Wed Sep 23, 2015, 12:06 AM
Sep 2015

He's running for the Senate seat Babs Mikulski is retiring. I like him a lot, but at the moment am leaning to Donna Edwards.

 

swilton

(5,069 posts)
8. Either Cummings or Edwards
Wed Sep 23, 2015, 03:52 PM
Sep 2015

My only hope is that they don't cancel each other out and you get Van Hollen....

Cummings has had a lot of face time with Sanders - could you see him in a Sanders Admin?

Stinky The Clown

(67,808 posts)
16. There are rumors that Cummings will stay with his seat and not run for Babs' seat
Thu Sep 24, 2015, 08:18 AM
Sep 2015

This story is a little convoluted. One of the candidates for Baltimore mayor was also eyeing Cummings' seat. He recently said he is no longer seeking that seat because Cummings said he isn't going to Run for Mikulski's seat. The Cummings camp has made no comment one way or another on the guy's statement.

Cummings has always been a pretty good liberal. I could imagine him in Bernie's cabinet.

jwirr

(39,215 posts)
5. This investigation needs to come up with some way to make
Wed Sep 23, 2015, 12:57 PM
Sep 2015

sure that this does not continue to happen. There are a lot of generic drugs out there that need protection.

 

Rex

(65,616 posts)
6. Wait...so price gouging is illegal now!?
Wed Sep 23, 2015, 12:58 PM
Sep 2015

Did somebody in Congress just wake up and realize they run the country? Wow.

 

maindawg

(1,151 posts)
12. I told you
Wed Sep 23, 2015, 07:13 PM
Sep 2015

This guy is just setting the table. You cannot charge 750 dollars for a 13 dollar pill. The business model does not work. Ins wont pay it.
So, what this guy wants is a substantial increase, lets dance. In the end, dude will get an outrageous sum while we all feel like we got the best deal we could hope for. And that will be about right.
So bend over Americans, its that time again!

truedelphi

(32,324 posts)
23. Oh an insurer will pay it, assuming this Pharma Bro guy can find the
Thu Sep 24, 2015, 08:02 PM
Sep 2015

"insider" Big Insurance middle man.

After all, the insurance world has been for decades a backroom deal kinda place.

So as soon as Big Pharma Bro finds the top executive who is willing to take a hefty cut in order to let the guy have his 5000 % increase, it will all come down the pike just as he wants it too.

forest444

(5,902 posts)
14. And at a minimum, investigate the source of the funding.
Wed Sep 23, 2015, 10:11 PM
Sep 2015

The little shit has laundered drug money front written all over him.

Waiting For Everyman

(9,385 posts)
17. I think things like this should be confiscated by the government.
Thu Sep 24, 2015, 08:30 AM
Sep 2015

For the public good. Eminent domain.

I hope that's what Cummings has in mind.

mountain grammy

(26,624 posts)
18. Well with the GOP so concerned with other matters
Thu Sep 24, 2015, 08:47 AM
Sep 2015

You know, like Benghazi, it's tough to find time for Americans who will die because of corporate greed. That's pretty much a daily occurrence in America,after all.

Good for congressman Cummings who is never afraid to speak for the people. We need 400 more just like him.

rladdi

(581 posts)
20. The Drug and Medical Association has the strongest Lobbyist in DC spending about
Thu Sep 24, 2015, 01:56 PM
Sep 2015

$350 million annually fighting against any bills against them. Thus I suspect the Republicans would not be interested in lowering the price of this drug or any other drug or medical device. They prefer us to make a choice, pay the high price or die.

truedelphi

(32,324 posts)
21. DIDN't we have a "Healthcare" debate
Thu Sep 24, 2015, 07:42 PM
Sep 2015

THAT went on for months and months, but the leaders of the party wanting that debate told us again and again that it was not their intention to regulate the Insurance Industry or the other cogs in the wheel, including Big Pharma.

So how can anyone now be surprised that the jackals are feeding so ravenously?

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