The disgraced pharmaceutical executive dubbed “Pharma Bro” remains the shadow power at the drug company that became a national lightning rod for jacking up the prices of rare drugs. Having made friends including ‘Krispy’ and ‘D-Block,’ he’s plotting a comeback.
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If Shkreli wasn't in prison, then he would be a normal "activist investor" who has the ownership (power) to dictate corporate strategy at the highest levels. Whether he's the chief executive or not is kind of a moot point—that's just a title.
If I recall correctly, a securities-related conviction would prevent him from being a director of a publicly-traded company. But Phoenixus AG (née Turing) isn't public, so I don't think there's SEC limitations here.
That other shareholders want him removed from power is a preference and disagreement, nothing more.
Was there anything else in his sentencing that would preclude him from these kinds of activities? Or is this more a, huh, that's interesting message?
Reading the article, it seems like the rules he's breaking are:
1. Having a cell phone in prison.
2. "Running a business", in potential violation of the prison inmate handbook. I'm unclear if there are any legal teeth behind said handbook, or what.
The article also says that the FBI "has interviewed associates about his role" at Phoenixus, but not why they're doing that.
He's got an entourage that looks out for him, runs his company from a contraband phone that he also posts on twitter from, lifts weights to keep from getting too scrawny, pays off inmate's poker debts, takes care of cats, helps inmates out with their grammar... This really sounds like something out of a movie.
I did really like his lectures on youtube on investing. One can learn a lot about dissecting a company's fundamentals from them. I wish he had not done all that stupid shit. I am not sure if he thinks he ever needed to anyways..
> [..] when Turing raised the cost of an HIV drug to $750 per pill from $13.50.
It wasn't an HIV drug. Pyrimethamine is mainly used to treat toxoplasmosis. Granted a huge target group would be HIV patients but right here that's just spinning a narrative. Shkreli might be a questionable character but that doesn't warrant publishing fake news.
Shkreli's real crime: small fish with a big mouth. If Shkreli was a CEO of a $50 Billion company he'd be holding fundraisers for Trump or his opponents. And the Feds would not dare arrest him for his defense would overwhelm the feds.
(No doubt he did illegal stuff, but bigger fish do more than he did in his lifetime, before 8 am)
There's no difference between a CEO and a gangster apparently. They both ruin lives, kill people, and use contraband cellphones from jail to continue doing so. It's sad that our culture glorifies one but despises another when they are equally evil and antisocial.
I always really liked Martin Shkreli. He kind of reminds me of myself (maybe that says more about me than Martin Shkreli). Maybe he ran a fraud, but he did good by his investors, they got huge return off of his "scam." Of people who are in jail for scams, almost all of them stole/lost money from their investors, instead of actually making a shit-load of money for them.
People don't like him not because of his "scam", but because he raised drug prices. Maybe people on HN and elsewhere think big pharma should be run as a charity, but in my book, making as much money as you can is a good thing, a noble and morally righteous thing in fact.
Companies should try and make as much money as humanly possible (without breaking the law), because this is the only framework in which competition can exist. Everyone, everywhere, should be as greedy as possible and try as make a big of return on their investments as possible. This is the origin of "competition."
If individuals and companies weren't doing that, our market wouldn't function and it wouldn't delivery nearly as value as it does to society.
People who don't even believe in karma are pretty dense.
If you don't provide value, you won't have anything.
He took value from people, all was taken from him.
You can't escape it. It's the law of sewing and reaping.