Saturday Evening Owls: Rep. Katie Porter releases report on the unhealthiness of Huge Pharma mergers

0
184

Whereas pharmaceutical executives typically try to painting such consolidation as a method to extend operational effectivity, the report states that “digging a degree deeper ‘exposes a troubling industry-wide development of billions of {dollars} of company sources going towards buying different pharmaceutical companies with patent-protected blockbuster medicine as a substitute of placing these sources towards’ discovery of recent medicine.”

Merger and acquisition (M&A) offers are sometimes executed to “increase inventory costs,” to “cease opponents,” and to “purchase an progressive blockbuster drug with an unlimited potential income stream.”

“As an alternative of spending on innovation, Huge Pharma is hoarding its cash for salaries and dividends,” the report says, “all whereas swallowing smaller firms, thus making {the marketplace} far much less aggressive.” […]

“Competitors is central to capitalism,” Porter said in a press launch introducing the report. “As our report exhibits, Huge Pharma has little incentive to spend money on new, critically wanted medicine. As an alternative, pharmaceutical giants are free to dedicate their sources to buying smaller firms that may in any other case drive them to compete.”

“Lives are on the road; it is clear the federal authorities must reform the way it evaluates healthcare mergers and patent abuses,” Porter added. […]

THREE OTHER ARTICLES WORTH READING


TOP COMMENTS  RESCUED DIARIES 

TWEET OF THE DAY

QUOTATION

“You by no means change issues by preventing the present actuality. To alter one thing, construct a brand new mannequin that makes the present mannequin out of date.” ~~Buckminster Fuller
 

BLAST FROM THE PAST

On this date at Every day Kos in 2003—No conclusive proof:

Properly, whilst administration officers hype Powell’s “Adlai second” on the UN subsequent week, there may be nonetheless some dampening of expectations:

Officers cautioned that nobody photograph or piece of proof will conclusively show the administration’s case; as a substitute, they describe what they are saying will probably be an accumulation of damning particulars. ”What we’re exhibiting is a sample of habits,” a senior administration official stated. ”You are not going to have photos of warheads.

I believe I’m lastly resolved to the truth that warfare is inevitable. It is a disgrace that Bush is so hell-bent on going to warfare that he’ll danger the lives of 1000’s to take action, and all on circumstantial proof.

Clearly Saddam is a brutal dictator, and I am certain he is received issues to cover. However is he a risk to U.S. nationwide safety—price throwing away lives and treasure to depose? That case has not been made. And it will not be made. However that is irrelevant to an administration that retains utilizing discarded “proof” of a nuclear program (the aluminum tubes) and a hypothetical hyperlink to Al Qaeda to justify a warfare that even super-hawks like Regular Schwarzkopf will not purchase.