latindane
Learner. EuroPW, NaPS
Why does "patent troll" keep popping into my head when thinking about this? Seems like the same mechanism at play. And I very much doubt more innovation results from these kind of practices.
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Ex-hedge funder buys rights to AIDS drug and raises price from $13.50 to $750 per pill
- Thread starter phocup
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CoorsLight
New member
I'll vote for you!
Mike95060
Work In Progress
7-10% is on a low side from what I remember. Let's not forget that all the materials have to come through university approved suppliers, which costs much more for less. Another indirect way university gets their cut. Depending on expenditure university might put another tax on it. I remember we had to buy a server, and specifically over build it so it would cost over certain amount so it was considered capital expense. Otherwise university would have applied a tax and it would have costed us same or more for less hardware.
Johndicezx9
Rolls with it...
Can't address the specifics to that situation...
Generally prices are off contracts that any public education entity can piggy-back off of... Example, a $10,000 copier retail can be as low as $5200. Computer pricing is much more fluid, prices start lower than market, but then market catches up and can surpass depending on specs, but piggu-backing on contract pricing is way to lower to costs that has been practiced in California for quite a while without having to do the public funding (Brown Act?) show of being approved by governing boards.
CoorsLight
New member
The percentage that the university takes from the funds of a researrch lab depends on the total size of the grants. There is a flat overheard fee, and that starts at about $75k/year, if the lab is small. Then, the university skims all the grant money on top of that.
In the end, large, productive labs that get lots of grants pay the most absolute money to the university, but in terms of percentage, they give the least.
EDIT: I should add that the universities don't just skim money. They give "startup" grants to new assistant professors that offset the costs for about a year. For big-name professors that get poached from one university to the next, the startup grants can be deep into seven figures.
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mean dad
petulant bisket
The backstory on the original price gouging frenzy is that he's been shady as fuck for a long time. Same MO, different companies.
latindane
Learner. EuroPW, NaPS
... it's a bitch.
Hooli
Bonafide
Attachments
CoorsLight
New member
Wow. Found out from the article that Shkreli was recently named as CEO of KaloBios, a small company in SSF. I visited the KaloBios website, and saw that two days before he was named as CEO, KaloBios announced that it is shutting down operations and laying off 60% of the workforce, which will include two friends of mine. These guys are older and will have trouble finding a new position because there is so much ageism in bio/pharma.
Also, an interesting article published today in the Royal Society of Chemistry's online journal about drug pricing:
http://www.rsc.org/chemistryworld/2015/12/pharmaceutical-industry-roundup-2015-pills-prices-politics
Also, an interesting article published today in the Royal Society of Chemistry's online journal about drug pricing:
http://www.rsc.org/chemistryworld/2015/12/pharmaceutical-industry-roundup-2015-pills-prices-politics
unirr
Eating popcorn
This is why its better to make shit tons of money and not say a single word about it.
You start speaking out and up and suddenly shit gets real.
Interestingly, this is quite the norm on wallstreet in many different industries to many different degrees. The difference is, they aren't dumb enough to get on a pedestal and speak loudly about how they're financially raping the shit out of everyone.
People get butt hurt, the regulators take action, you get rekt, and people pat themselves on the back for a job well done while the lion's share of activity goes unpunished..
Make your money and stfu. Hopefully he's learned from this.. All the young hotshots need to at least once.
You start speaking out and up and suddenly shit gets real.
Interestingly, this is quite the norm on wallstreet in many different industries to many different degrees. The difference is, they aren't dumb enough to get on a pedestal and speak loudly about how they're financially raping the shit out of everyone.
People get butt hurt, the regulators take action, you get rekt, and people pat themselves on the back for a job well done while the lion's share of activity goes unpunished..
Make your money and stfu. Hopefully he's learned from this.. All the young hotshots need to at least once.
Mike95060
Work In Progress
What's it gonna take for America to embrace the idea of commonwealth again? Can philanthropy come back please? Can you imagine what it would be like if polio were around today? Every shitbag money changer would be tripping over themselves to cash in on the vaccine while the world was busy being crippled, literally. Something has to give. I might be ok with bringing back the guillotine.
unirr
Eating popcorn
How do you think wallstreet functions and makes billions of dollars by contributing nothing of value to society?
It is fine.. Everyone deems it as fine in their own little participation in it : capitalism.
You just don't mouth off about it like this idiot as it exposes their dirty little secrets to the public eye... and well, you get shut up quick.
You think this fool is the only one doing it? He's making millions.. Pharma is making billions.
So, he volunteered himself as the annual pony to be paraded around to show people justice still is being served.
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mean dad
petulant bisket
Why is it, then, that you go on and on about your financial expertise and how quickly you're going to be out of the game?
Also, your entire theory is flawed, as he didn't say boo about it. Find me the article where this twat said anything to anyone about his money or his purchase of a drug company and its subsequent price increase.
Why is it, then, that you go on and on about your financial expertise and how quickly you're going to be out of the game?
Also, your entire theory is flawed, as he didn't say boo about it. Find me the article where this twat said anything to anyone about his money or his purchase of a drug company and its subsequent price increase.
I believe the term to use here is 'rekt'
How do you think wallstreet functions and makes billions of dollars by contributing nothing of value to society?
It is fine.. Everyone deems it as fine in their own little participation in it : capitalism.
You just don't mouth off about it like this idiot as it exposes their dirty little secrets to the public eye... and well, you get shut up quick.
You think this fool is the only one doing it? He's making millions.. Pharma is making billions.
So, he volunteered himself as the annual pony to be paraded around to show people justice still is being served.
I'm not sure how this tirade resulted from my statement.
I never even implied he was the only one doing it