Saturday Evening Owls: Rep. Katie Porter releases report on the unhealthiness of Large 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 sources going towards buying different pharmaceutical firms with patent-protected blockbuster medication as a substitute of placing these sources towards’ discovery of recent medication.”

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 infinite potential income stream.”

“As a substitute of spending on innovation, Large 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 reveals, Large Pharma has little incentive to put money into new, critically wanted medication. As a substitute, pharmaceutical giants are free to dedicate their sources to buying smaller firms 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 combating the prevailing actuality. To vary one thing, construct a brand new mannequin that makes the prevailing mannequin out of date.” ~~Buckminster Fuller


On this date at Day by 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 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 likely be an accumulation of damning particulars. ”What we’re displaying is a sample of conduct,” a senior administration official stated. ”You are not going to have footage of warheads.

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

Clearly Saddam is a brutal dictator, and I am certain he is bought issues to cover. However is he a menace to U.S. nationwide safety—value 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 battle that even super-hawks like Regular Schwarzkopf will not purchase.