The previously unknown Martin Shkreli has been dominating the news since September. He's been making waves because of his over-sized wallet and ego, as well as the larger issue of out-of-pocket prescription fees. More than anything, his antics on social media show how a little bit of attention goes straight to people's heads.
The New York Times reported back in September that Turing Pharmaceuticals would be raising the price of Daraprim, a medication used to help manage toxoplasmosis, a common complication of AIDS. The price of the drug went from $13.50 a tablet to $750. For comparison, in the UK, the drug retails for under $2 a pill. To no surprise, causing a 5000 percent increase in the price of a life-saving medication for the chronically ill invited a maelstrom of backlash on social media.
The majority of this backlash was directed at Shkreli, CEO of Turing Pharmaceuticals and former hedge fund manager. Not unjustly dubbed the most-hated man in America, Shkreli’s lifestyle and over-the-top social media presence are what makes him so detestable. Whether it’s selfies of him playing guitar or a photo of him on a hover-board, he seems like the typical college bro with an ego to match. It doesn’t help that Shkreli was unapologetic about his choice to increase the price of the drug.
http://t.co/co6Fmwk3XX And it seems like the media immediately points a finger at me So I point one back at em, but not the index or pinkie
— Martin Shkreli (@MartinShkreli) September 21, 2015
The most frustrating part of the whole mess is that there’s no government regulations to prevent Shkreli and others like him from hiking the price of these medications up. Shkreli merely exploited the legal loopholes already in place to create a monopoly. Shkreli has caved to public pressure and has promised to lower the cost of the drug in the coming weeks, but the story doesn’t end there.
Democratic presidential candidate Sen. Bernie Sanders (I-Vt.) is particularly vocal regarding his contempt for the pharmaceutical industry, even going as far a naming Big Pharma one of his biggest enemies during the Democratic debate. So it struck me as especially bizarre when Shkreli donated $2,700, the maximum personal contribution allowed, to Sanders’ campaign last month.
Shkreli claimed that donated hoping to arrange a private meeting and discuss why the pharmaceutical industry and drug companies price medications the way they do. It was immensely fitting to see the campaign turn around and donate Shkreli’s money to a clinic that specializes in care for patients sick with HIV and AIDS.
And then, to no one’s surprise, Shkreli threw a fit on Twitter.
SO ANGRY AT @BernieSanders I COULD PUNCH A WALL!!!!!!!!!!!!!!!!!!!!!!!1
— Martin Shkreli (@MartinShkreli) October 18, 2015
Ugh, does anyone know how to treat a wrist fracture without going to a hospital?
— Martin Shkreli (@MartinShkreli) October 18, 2015
This is such bullshit. pic.twitter.com/t0Hgx8xdmy
— Martin Shkreli (@MartinShkreli) October 19, 2015
Dear @BernieSanders & @HillaryClinton, I have an important question for you. Get back to me whenever, Martin Shkreli. pic.twitter.com/y0DuJqswAR
— Martin Shkreli (@MartinShkreli) October 12, 2015
It doesn’t matter that this fit was probably staged, nor that he almost certainly didn’t
Shkreli’s been interviewed on every platform imaginable, up to and including Tinder, and his name crops up in the headlines almost every week. I have even contributed to his media blitz by writing this column about him.
Shkreli actually reminds me of GOP presidential candidate Donald Trump. Much in the same way as every single one of Trump’s ridiculous comments is covered by the media, Shkreli is unavoidable.
He sparked an important debate concerning Big Pharma, with the issue of out-of-pocket prescription prices becoming a large piece of Sanders’ and former Secretary of State Hillary Clinton’s campaigns. However, at this point, Shkreli has endured so much negative press that nothing is going to change how he acts. As outrageous and sensational as he may be, it’s time to start ignoring him, for the good of us all.
Related Links:
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Reach the columnist at mvandobb@asu.edu or follow @maureenvd on Twitter.
Editor’s note: The opinions presented in this column are the author’s and do not imply any endorsement from The State Press or its editors.
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