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


Whereas pharmaceutical executives usually try and painting such consolidation as a way to extend operational effectivity, the report states that “digging a degree deeper ‘exposes a troubling industry-wide pattern of billions of {dollars} of company assets going towards buying different pharmaceutical companies with patent-protected blockbuster medicine as an alternative of placing these assets towards’ discovery of latest medicine.”

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

“As an alternative of spending on innovation, Massive Pharma is hoarding its cash for salaries and dividends,” the report says, “all whereas swallowing smaller corporations, 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 reveals, Massive Pharma has little incentive to spend money on new, critically wanted medicine. As an alternative, pharmaceutical giants are free to commit their assets to buying smaller corporations that may in any other case pressure 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. […]





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 To vary one thing, construct a brand new mannequin that makes the present mannequin out of date.”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


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

Nicely, at the same time as administration officers hype Powell’s “Adlai second” on the UN subsequent week, there’s nonetheless some dampening of expectations:

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

I feel 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 threat the lives of 1000’s to take action, and all on circumstantial proof.

Clearly Saddam is a brutal dictator, and I am positive he is obtained issues to cover. However is he a menace 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.