Not sure anyone will get choked up about something or anything bad happening to Martin Shkreli or his smirk.
A federal judge ruled Monday that former drug company CEO Martin Shkreli will be held responsible for $10.4 million worth of financial losses related to his time as head of Turing Pharmaceuticals.
Judge Kiyo Matsumoto rejected Shkreli’s argument that he did not cause any losses for investors because they eventually came out with a profit, Reuters reported. The total losses will likely play a factor in Shkreli’s sentencing on March 9.
Matsumoto ruled Shkreli should not get credit for the money that was repaid to investors because he only returned it after they became suspicious.
Erin Lee Carr’s “Drug Short,” my candidate for a nonexistent Best in Show award, shows how big pharmaceutical companies jack up prices on lifesaving drugs, and how renegade short sellers with a pretense of social conscience get rich by trying to undermine companies they believe are spreading harm. The use of graphics in this one is particularly impressive; I’ve had short selling explained to me many times in the past, but I don’t think I ever really understood it on a fundamental level until Carr’s series laid it out.
Photo by swanksalot (CC BY-SA 2.0) Successful efforts by patient advocacy groups to require new approval standards for a particular class of drugs have resulted, perhaps inadvertently, in a sharp reduction of available products and a spike in the cost of brand name drugs to a tune of $350 million per year, Gastroenterology & Endoscopy News contributor Monica J. Smith reports.
If you’ve wondered whether medicines really do need to be tossed after their expiration date, you’re got some company at the California Poison Control System, UC San Francisco and UC Irvine. Researchers from those institutions decided to satisfy their curiosity by testing the effectiveness of eight drugs that had been sitting around, unopened, in pharmacies for years after they had supposedly gone bad.
These drugs were not just a few years past their prime, these medications were a full 28 to 40 years past their official expiration dates.
The tablets and capsules were dissolved and subjected to chemical analysis using a mass spectrometer. That revealed how much of the active ingredients remained in the pills.
Out of the 14 active ingredients, 12 were still at high enough concentration – 90% of the amount stated on the label – to qualify as having “acceptable potency,” the researchers found.