The Fight To Lower Drug Cost

The New York Times recently wrote an article on Kyle Bass. Kyle Bass is known for his hedge fund Hyman Capital Management. He has now changed his focus from mortgages to “Big Pharma”. He claims that pharmaceutical companies are taking advantage of the patent system. Along with Erich Spangenberg, they have formed a company called The Coalition for Affordable Drugs. They point out patents that they feel are abusive and report them to the United States Patent and Trademark office. They have already targeted over 13 pharmaceutical companies and 33 patents. One of the patents that the company is targeting id Propofol which has been involved in its share of controversy. The main goal is to get drug prices lowered and affordable for those in need by monitoring patents that are used by “Big Pharma” companies.

Wikipedia shows that Kyle Bass founded Hayman Capital Management in 2006. He made his huge fortune by predicting the mortgage crisis in 2008 and became a international star. His hedge fund has earned him millions of dollars and earned him the respect of investors all over. He has been dubbed a genius. As his career went on more controversy has surrounded him.

His latest failures have been made public by himself some will say. He is always in the media with his business ventures. His fund strategy is not loved by many. He is criticized for praising Cristina Fernandez de Kirchner of Argentina who some blame for the country’s default on it’s sovereign debt. Kyle has been giving advice for years that hasn’t turned out for the good ruining his reputation. Bass wanted to blame the passengers for the Gm airbag crisis stating that they must have been drunk driving, protecting his investment. His latest business ties are with Chris Kyle’s widow Taya Kyle who is being accused of unethical behavior. In Bass’s defense, “it’s all about the money” who can really judge a person by his or her business ventures.