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

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

Merger and acquisition (M&A) offers are sometimes executed to “increase inventory costs,” to “cease opponents,” and to “purchase an modern 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 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, Huge Pharma has little incentive to put money into new, critically wanted medicine. As an alternative, pharmaceutical giants are free to commit their sources to buying smaller corporations 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. […]

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BLAST FROM THE PAST

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

Nicely, whilst 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 a substitute, they describe what they are saying might 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 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 1000’s to take action, and all on circumstantial proof.

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