Martin Shkreli. While that is the name of the 32-year-old pharmaceutical entrepreneur, he is often referred to by other titles in the articles following his twisted trail. Pharma bro, pharma’s bad boy, and even the most hated man in America; regardless of what exactly the label is, they all leave a bad impression. And considering his actions in the past six years, those titles fit the bill when it comes to describing Shkreli.
“Pharma bro” first began making headlines in September, when Turing Pharmaceuticals, the company he founded and of which he was formerly the CEO, raised the price of Daraprim from $13.50 to $750. The drug is a highly effective antiparasitic used for the treatment of malaria and toxoplasmosis. The former is a life threatening mosquito-borne disease common in Africa while the latter is a parasitic disease that affects those with AIDs/HIV. Toxoplasmosis is especially more of a concern to the U.S.; being that the Centers for Disease Control and Prevention states that, “More than 60 million men, women, and children in the U.S. carry the toxoplasma parasite, but very few have symptoms because the immune system usually keeps the parasite from causing illness.” Of course, it is reasonable that people would be upset with a 5000% increase in the price of a valuable antiparasitic like Daraprim.
“I understand that the point of capitalism is to raise money, but to do what he did is greedy and taking advantage of people,” NHS Social Studies teacher Anthony Metz said.
Turing quickly came under fire, although, that is not the reason why Shkreli had gotten arrested. Authorities took interest in Shkreli in 2014 and began their investigation the same year. As it turns out, Shkreli was standing on thin ice as early as 2009. It was that year where he had launched the company MSMB Capital Management, the same company that alongside an unknown associate would assist in paying back a $7 million debt to his broker Merrill Lynch in 2011. That same year, MSMB Healthcare was launched by Shkreli using $5 million that came from thirteen investors. The money invested in MSMB Healthcare was then used to fund the pharmaceutical company Retrophin. Assets from that company were then used in order to pay off investors angered at his hedge funds.
Between backdating records and fabricating portfolio statements, Shkreli got himself into even more trouble. After the leave of Shkreli from Retrophin in September 2014, his company sued him the following year for $65 million. Yet even with the lawsuit, Shkreli simply scoffed, stating in a telephone interview with Bloomberg Business, “The lawsuit is baseless and meritless. We’re going to win. They still owe me a substantial amount of money.”
While Shkreli made headlines for previously stated matters such as the price raise of Daraprim and his arrest, he also made headlines this past December for being the guy who bought the most exclusive album in the world; Wu-Tang Clan’s Once Upon A Time In Shaolin. The hip-hop group had stated back in March of 2014 that they would only make one copy of the album and would give it to the highest bidder. Not only did Shkreli buy this album for $2 million, but he even boasted about it on Twitter, stating, “Within 10 years, more than half of all rap/hip-hop music will be made exclusively for me. Don't worry--I will share some of it.”
“Not only does Shkreli deserve the title of the most hated man in America, but he’s corrupt as well. I don’t think he should have jacked up the price that much; he is a greedy man.” NHS Latin teacher Jennifer Huettner said.
Sick of just reading headlines about Shkreli and want to interact with him? Considering that he frequently livestreams himself on Youtube, there have been plenty of opportunities to watch him play League of Legends, facecam with teenage girls and get asked to prom, or even get called by a “special agent” hours before getting arrested . You know, casual, fun activities for the whole family to enjoy. As time goes on, Shkreli really fits his handle as the most hated man in America more and more. Sure, he donated liver medicine to a Venezuelan boy, but after so many wrongs, one right simply does not cut it anymore.
Image Courtesy of nydailynews.com