Every episode of Dirty Money on @netflix is worth watching, but given how the US healthcare system is finally under serious review for radical reform, none is more timely than “EP3: Drug Short” on Valeant and prescription drug price gouging 🌟
The literal pitch from Valeant’s CEO, who flew high on this strategy for years until fraud brought him down, was: Spending profits on R&D is wasteful. Just buy old drugs without competition and increase prices hundreds of percent. Voila, that’s how you run a big pharma company!
That’s how far out of whack the system has gotten: Pharma CEOs can brag about how ripping off sick people who has no choice but to pay is way better business than looking for more cures. And everyone just goes: oh cool! Stock’s up!
As is often so, the scandal isn’t so much what Valeant did that was illegal, but everything they did that was not. Anyway, give it a watch and tell me we don’t need a fundamental reboot of the US healthcare system.
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