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By Robert Geimer

Martin Shkreli, the 32 year-old hedge fund manager who profited by jacking-up the price of drugs needed by the seriously ill and then flaunting his wealth by blowing $2 million on a single record album, was arrested this morning by federal authorities at his Manhattan apartment.  He has been charged with securities fraud related to his time as a hedge fund manager and running the biopharmaceutical company Retrophin. Let’s just say karma is a 5 letter word!

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By Robert Geimer

If you’re a channel-flipper you may have run across infomercials for Wen shampoo, touting a unique formula “that cleanses hair thoroughly without lather or harsh sulfates found in some ordinary shampoos.”  Celebrities including Brooke Shields and Angie Harmon have endorsed the product, and it is promoted by marketing firm Guthy-Renker, famous for Tony Robbins and other infomercials.  Unfortunately, this “unique” shampoo makes your hair fall out, at least according to a complaint filed by more than 200 consumers in 40 states.  In a lawsuit filed in the United States District Court for the District of California (link), which is itself unique as the pleading document contains pictures of consumers with chunks of hair missing, consumers allege that Wen shampoo contains harsh ingredients that cause hair loss, and further allege that the manufacturer knew about consumers’ complaints but refused to do anything about them.  As we wait to see the outcome of this litigation, it is important to remember to be a diligent consumer and be appropriately skeptical of slick marketing campaigns.

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By Robert Geimer

Previously I wrote about Martin Shkreli, the 32 year-old “hedge fund” manager who acquired a 62-year-old drug used to treat infection and then jacked-up the price from $13.50 per tablet to $750 per tablet. As if that wasn’t enough, Mr. Shkreli has now gone out of his way to make sure he has a first class ticket to Hades. First, he told a Forbes magazine healthcare conference that if he could do it all over again, he would have raised prices even higher. Then, as reported by Bloomberg Business, rap group Wu Tang Clan put the only copy of its new album up for auction to the highest bidder and – you guessed it – Mr. Shkreli was the winning bidder, paying $2 million for a record album. All the while millions of sick, elderly, and otherwise hard-working Americans cannot afford the outrageous prices of prescription drugs. And this guy - who has been gouging these Americans with no remorse - spends $2 million on a record album? You may want to order your flame-retardant suit now, Mr. Shkreli, you’re going to need it.

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By Robert Geimer

In a truly frightening study, researchers at Harvard-affiliated Massachusetts General Hospital have found that a mistake was made in 1 out of 2 surgeries performed - and that is at one of the leading hospitals in America! Read about it here.

By Robert Geimer

Serious questions are being asked about the safety of the Essure birth control device manufactured by Bayer HealthCare Pharmaceuticals.  According to a study in the British Medical Journal, the device, which is implanted in a woman’s fallopian tubes to induce scar tissue formation to block the tubes and prevent eggs from being fertilized, resulted in women undergoing 10 times as many surgeries to fix problems versus women who had their tubes tied.  According to the FDA, patients have reported persistent pain and bleeding and the need to remove the device and repair damage.  Therefore, it would seem that women should think twice and consult with their physicians before using Essure for birth control.

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