Vermont's prescription pricing law set be signed by gov.
http://arstechnica.com/science/2016/05/ ... kreli-law/
Vermont is the first state to pass a law by majority vote of both houses to force big pharma to justify massive price hikes and huge prices on medication.
The governor is expected to sign it soon.
Those who pull a Shkreli raising prices by exponential and massive amounts will see a fine of $10,000 (whether this can be applied daily or repeatedly is unknown).
New York, Pennsylvania, Massachusetts, California and Virginia are the next states who are following suit.
Though big pharma plans to fight this to the end.
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$10,000 is nothing to a pharmaceutical company. In fact it would prolly be cheaper for them break the law, be fined and simply jack the price up even more. They should have fines that increase exponentially for every day the pharmaceutical company fails to comply with the law.
Usually crime doesn't pay but it does in the case of white collar corporate criminals. As long as their proceeds of their criminal acts exceed the maximum fines allowable, they can still make a profit. It is like robbing a bank, but only having to return some of what you stole and you also get to keep the interest you made on your proceeds of crime.
Usually crime doesn't pay but it does in the case of white collar corporate criminals. As long as their proceeds of their criminal acts exceed the maximum fines allowable, they can still make a profit. It is like robbing a bank, but only having to return some of what you stole and you also get to keep the interest you made on your proceeds of crime.
It depends on how Vermont levies the fine.
If they levy it daily, then it would add up quickly.
Also the negative press from overcharging on prescriptions can turn the public against you killing sales.
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