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

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Whereas pharmaceutical executives typically try to 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 companies 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 revolutionary blockbuster drug with an infinite potential income stream.”

“As a substitute 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 put money into new, critically wanted medication. As a substitute, pharmaceutical giants are free to commit their sources to buying smaller corporations which may in any other case power 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 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’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 will probably be an accumulation of damning particulars. ”What we’re exhibiting is a sample of habits,” a senior administration official mentioned. ”You are not going to have photos of warheads.

I feel I’m lastly resolved to the truth that conflict is inevitable. It is a disgrace that Bush is so hell-bent on going to conflict 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 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 conflict that even super-hawks like Regular Schwarzkopf will not purchase.