Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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Big Pharma Has Not Done Enough to Refute "Pharma Bro" Shkreli

Big Pharma Has Not Done Enough to Refute "Pharma Bro" Shkreli | Pharmaguy's Insights Into Drug Industry News | Scoop.it

"There is a ... subtle reason for the industry's failure to fight back [against negative public opinion]," says John Higginson, head of corporate comms at ICG. "The pharmaceutical industry is risk averse by nature." 

With lives in its hands we are grateful for this. But what is a good quality for running a pharmaceutical company does not necessarily translate into a good quality for communicating for that same firm. 

Good communications requires boldness. And it means making your case succinctly when under attack. 

When Turing Pharmaceuticals, run by rogue former hedge fund manager Martin Shkreli, bought the rights to an HIV drug earlier this year and then raised the price by 5,000 per cent there were many happy to point to this as an example of the way the industry behaves as a whole.
But so often [communications professionals within pharma companies] are held back by CEOs and boards [my emphasis, see my comments below] who treat their communications with the same risk aversion as they take to running the rest of their business. 

It is time to let those who are willing and able to speak up for the industry to do so. The time to stick heads above the parapet is now.
Pharma Guy's insight:

Higginson says pharma should counteract the public perception that the industry puts profits before patients. But then he says the main reason for this is CEO & board resistance. That resistance comes from the profit-motive sector of the industry. That is precisely where Martin Shkreli exists. He claimed that Delaware corporate rules require that he maximize profits. Although there is no such rule, it's what CEOs as paid to do.

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If the Ammunition Industry Followed the Lead of @MartinShkreli Lives Would Be Saved

If the Ammunition Industry Followed the Lead of @MartinShkreli Lives Would Be Saved | Pharmaguy's Insights Into Drug Industry News | Scoop.it
A hypothetical worth your attention.
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5 Reasons Why I Follow Martin Shkreli on Twitter

5 Reasons Why I Follow Martin Shkreli on Twitter | Pharmaguy's Insights Into Drug Industry News | Scoop.it

Martin Shkreli, CEO of Turing Pharmaceutical, has been called "the most hated man on the Internet" after he raised the price of a generic AIDS and cancer drug by exploiting a few FDA loopholes (see here).

Despite that, there are at least 5 reasons why I chose to follow him on Twitter.

#1: He Has a REAL Enigma Machine!
I always wanted one of these and I'm jealous that Mr. Shkreli has one. What pharma CEO would also not like to have an Enigma machine?

But the real Enigma is Shkreli himself! He recently tweeted: "New Enigma machine for our office. Perhaps it will help us crack the code in drug development."

Code? What code? We don' need no stinking' code! Unless the "code" is buy a cheap generic drug and exploit loopholes to jack up the price.

He tweeted the photo shown here as proof that he has the machine as well as some other junk he may or may not be using to help crack the drug development "code."

That's just a "wow" reason. Here are some other more important reason why I chose to follow Shkreli on Twitter.


More here...

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Is Martin Shkreli a Psychopath? Yes, He's a F**king Psycho!

Is Martin Shkreli a Psychopath? Yes, He's a F**king Psycho! | Pharmaguy's Insights Into Drug Industry News | Scoop.it
Pharma Guy's insight:

Martin Shkreli, CEO of Turing Pharmaceuticals, is a former hedge fund manager who has become the public face of the drug pricing controversy after his company raised the price of the anti-infection drug Daraprim by more than 5,000 percent.

Now the Senate’s special committee on aging requested documents and information from Turing and invited Shkreli to testify.

Shkreli taunted politicians on Tweeter days before the Senate invite, saying he was "In DC. If any politicians want to start, come at me" (read "Senate Invites Turing CEO Shkreli to Visit. Just What He Wanted!") - a taunt typical of a Psychopath. Indeed, Shkreli has been called a "morally bankrupt sociopath," a "greedy sociopath," a "sociopathic bounty hunter," and an "evil sociopathic asshole."

But is he really a psychopath? I took a PsychCentral "Psychopathy Quiz" posing as Shkreli and supplying answers I thought indicative of his behavior. So, how did he score?

PsychCentral pulled no punches in its analysis of the results: "You scored a total of  21. You answered this quiz consistent with people who score high on measures of psychopathy and psychopathic behavior. This high score suggests that you likely have psychopathic tendencies."

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ROFL! @MartinShkreli Accuses @BernieSanders of "Price Gouging."

ROFL! @MartinShkreli Accuses @BernieSanders of "Price Gouging." | Pharmaguy's Insights Into Drug Industry News | Scoop.it

Turing CEO Martin Shkreli tweeted screenshots of two automated emails he received from Bernie Sanders’ campaign. The first asked for a $3 donation; the second, which arrived the next day, asked for $25.66.


In a follow up tweet, Shkreli wrote: “Bernie Sanders…raised the donation requested from his supporters by 755% in one day. Price gouging,” an attempt to paint the presidential candidate as a hypocrite after refusing to accept the price gouging CEO’s donation.

Pharma Guy's insight:

This is just one of the reasons why I follow @MartinShkreli on Twitter. Learn about the other reasons here: http://bit.ly/1M0dOza 

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