Big Pharma CEO: ‘We’re in Business of Shareholder Profit, Not Helping The Sick’

big-pharma-ceo:-‘we’re-in-business-of-shareholder-profit,-not-helping-the-sick’

25-08-19 09:19:00,

Last July, Turing Pharmaceuticals’ CEO Martin Shkreli became a lightning rod for growing outrage over soaring prescription drug prices after he raised the price of a newly-acquired drug from $13.50 to $750. But Shkreli, who earned the title ‘the most hated man in America,’ is not the only one acquiring drugs currently on the market to raise their price and, in turn, rapidly drive up their stock price.

J. Michael Pearson, the CEO of Valeant Pharmaceuticals has enraged the internet after saying in a recent interview with MSNBC that “his company’s responsibility is to its shareholders, not the customers who rely on his drugs to live.”

“My primary responsibility is to Valeant shareholders. We can do anything we want to do. We will continue to make acquisitions, we will continue to move forward,” Pearson said.

He added: “If products are sort of mispriced and there’s an opportunity, we will act appropriately in terms of doing what I assume our shareholders would like us to do.”

J. Michael Pearson  | ImgurJ. Michael Pearson | Imgur

Already this year, according to several media outlets, Valeant has increased the price of 56 of the drugs in its portfolio an average of 66 percent, highlighted by their recent acquisition, Zegerid, which they promptly raised 550 percent. Not only does this have the unfortunate side effect of placing the price of life-saving drugs out of reach for even moderately-insured people, but it has now begun to call into question the sustainability of this rapidly-spreading business model.

Valeant has acquired more than 100 drugs and seen their stock price rise more than 1,000 percent since Pearson was named CEO in 2008. Pearson started working with Valeant Pharmaceuticals as an outside consultant in 2007, took over as CEO the next year.

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Sen. Susan Collins Just Punched Her Ticket To Hell

Both Elizabeth Warren and Bernie Sanders’ stance against the practice has placed big pharma under tremendous scrutiny.

The House Committee on Oversight and Government Reform is planning to issue a subpoena for information on recent price increases from both Pearson and Shkreli.

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The history of the pharma cartel | Light On Conspiracies – Revealing the Agenda

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08-04-19 06:21:00,

1911, May 15

The Supreme Court of the U.S. finds John Rockefeller and his Trust guilty of corruption, illegal business practices and racketeering. As a result of this decision, the entire Rockefeller Standard Oil-Trust, the world’s largest corporation of its time, was sentenced to be dismantled. But Rockefeller was already above the Supreme Court and did not care about this decision.

1913

In order to disperse public and political pressure on him and other robber-barons, Rockefeller uses a trick called “philanthropy”, whereby the illegal gains from his robber-practices in the oil business are used to launch the Rockefeller Foundation. This tax haven was used to strategically take over the health care sector in the U.S..

The Rockefeller Foundation was the front organization for a new global business venture of Rockefeller and his accomplices. This new venture was called the pharmaceutical investment business. Donations from the Rockefeller Foundation went only to medical schools and hospitals. These institutions had become missionaries of a new breed of companies: the manufacturers of patented, synthetic drugs.

This was also the time when the first vitamins were discovered. It soon became clear however that these natural molecules had live-saving health benefits and that they were able to prevent many chronic health conditions. The first books appeared with research, subsequently abandoned, about the health benefits of vitamins. These newly discovered molecules had only one disadvantage: they were non-patentable.

Thus, in its first years of existence, the pharmaceutical investment business already faced a mortal threat: vitamins and other micronutrients promoted as public health programs would prohibit the development of any sizable investment business based on patented drugs. The elimination of this unwanted competition from natural micronutrients therefore became a question of life and death for the pharmaceutical business.

1918

The Rockefeller Foundation uses the Spanish flu epidemic – and the media (that it already controlled by this time) – to start a witch-hunt on all forms of medicine that were not covered by its patents.

Within the next 15 years, all medical schools in the U.S., most hospitals and the American Medical Association all essentially became pawns on the chessboard of Rockefeller’s strategy to subjugate the entire health care sector under the monopoly of his pharmaceutical investment business.

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Big Pharma & The Rise Of Gangster Capitalism

Big Pharma & The Rise Of Gangster Capitalism

15-07-18 07:46:00,

Authored by Charles Hugh Smith via OfTwoMinds blog,

$8 per vial in competing developed-world nations and $38,892 in the U.S. That says it all.

Thanks to decades of gangster films, we all know how gangster capitalism works: the cost of “protection” goes up whenever the gangster wants to increase revenues, any competition is snuffed out, and “customer demand” is jacked up by any means available– addiction, for example.

This perfectly describes the pharmaceutical industry and every other cartel in America. You might have read about the price increase in Acthar gel, a medication to treat Infantile Spasms. (via J.F., M.D., who alerted me to the repricing of this medication from $40 in 2001 to the current price of $38,892.)

The compound first received approval in 1950, and various branded versions have been approved in recent years. Let’s be clear: this medication did not require billions of dollars in research and development, or decades of testing to obtain FDA approval; it’s been approved for use for the past 68 years.

Yes, you read that correctly: a medication that’s been in use for 68 years went from $40 a dose in 2001 to $38,892 today. Don’t you love the pricing? Not a round 38 grand, but $38,892. You gotta love these gangsters!

There’s another related term to describe this form of capitalism: racketeering.That’s what mobsters do–operate rackets.

The Big Pharma racket enriches a number of gangs practicing gangster capitalism: the drug companies themselves, of course, but some doctors are profiting from the racket, and so are pharmaceutical lobbyists:

Study highlights role of doctor conflicts of interest in Medicare spending on Mallinckrodt drug Acthar Study published in JAMA indicates nearly 90 percent of doctors prescribing HP Acthar Gel took payments from drug’s manufacturer.

Here are the money quotes:

In 2014 Mallinckrodt raised the price of Acthar further to $34,000. The Federal Trade Commission and attorneys general from five states sued Mallinckrodt for anti-competitive behavior with regard to the acquisition of Synacthen Depot and the monopolistic pricing of Acthar,

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Big Pharma’s “Stop the Stigma of Mental Health” Campaign. The Role of “Patient Advocacy Organizations” (PAO) | Global Research – Centre for Research on Globalization

Big Pharma’s “Stop the Stigma of Mental Health” Campaign. The Role of “Patient Advocacy Organizations” (PAO) | Global Research – Centre for Research on Globalization

23-05-18 04:28:00,

Here is a little known but extremely relevant fact: The first campaign to “Stop the Stigma of Mental Illness” was launched many years ago by the psycho-pharmaceutical industry (Big Pharma) that makes tens of billions of dollars annually by selling unaffordable, often highly addictive, brain-altering drugs that are then promoted by psychiatrists and family physicians as being necessary for the rest of the drug-taking patient’s lives. 

Why doesn’t that surprise anybody? The norm for all capitalist enterprises is to make money by hook or by crook.

With a seemingly altruistic agenda of understanding and compassionately dealing with unfortunate people that are somehow different than the rest of us, the fact is that the campaign is all about marketing a product rather than ending the “stigma” of so-called “mental illnesses”.

The campaigns have been going on for decades under different guises and each one (see a partial list of some of them at the end of this column) has been started and funded by greedy, sociopathic multinational pharmaceutical corporations that primarily want to maximize their profits by getting more and more patients labeled as having mental illnesses (of unknown cause), which will ensure that many of them will be placed on potentially-dangerous, dependency-inducing psych drugs. 

The primary propaganda targets of drug company advertising are prescribing doctors and nurse practitioners. The secondary targets however are the obedient, drug-swallowing folks who are sitting in front of the boob tube, most of whom naturally feel sad or nervous from time to time and who are somehow willing to swallow whatever drug is prescribed to them. 

It is a simple three step process that begins with a prospective patient passively watching an attractive female actor on TV, to then wanting to get a diagnosis for whatever disorder the actor was supposed to have, and then finding a health caregiver to prescribe whatever drug the actor on TV was “cured” by taking. 

The same TV drugs and TV “disorders” are also subtly and cunningly promoted in non-paid TV programming that avoids discussing any of the negative aspects of the Big Pharma drugs (or vaccines) from which the media outlets had accepted large amounts of advertising money that always keeps unwelcome truths from coming out, thus complying with the old rule that says that “whoever pays the piper calls the tune” (meaning that TV and radio broadcasters never report anything that might offend the program’s paymasters and advertisers and that interview hosts try not to invite courageous truth-tellers or whistle-blowers on to their shows). 

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Big Pharma Fails to Disclose Antibiotic Waste Leaked from Factories into the Environment | Global Research – Centre for Research on Globalization

Big Pharma Fails to Disclose Antibiotic Waste Leaked from Factories into the Environment | Global Research – Centre for Research on Globalization

25-01-18 04:22:00,

Featured image: Pharmaceutical waste in Hyderabad, India by Christian Baars

Many of the world’s leading drug manufacturers may be leaking antibiotics from their factories into the environment according to a new report from a drug industry watchdog. This risks creating more superbugs.

The report surveyed household-name pharmaceutical giants like GSK, Novartis and Roche as well as generic companies which make non-branded products for the NHS and other health systems.

None of the 18 companies polled would reveal how much antibiotic discharge they release into the environment, according to the independent report from the not-for-profit body, the Access to Medicine Foundation. Only eight said they set limits for how much could be released in wastewater.

Only one disclosed the name of its suppliers – a move which is seen as important as it would make companies accountable for their environmental practices.

Commenting on the report, Dr Mark Holmes, a veterinary scientist at the University of Cambridge, said:

“Antibiotic resistance is complex but if we are to deal with this challenge every sector must do their bit. The pharmaceutical industry has been a key player in improving public health but a failure to address environmental impacts of antibiotic pollution could undo much of their good work.”

Changing Markets, an NGO which has campaigned on the issue of pharmaceutical waste, added:

“Pharmaceutical companies have a clear responsibility to tackle pollution in their supply chains, not least because of the considerable human health impacts associated with untreated waste from pharma manufacturing, prime among the creation of drug-resistant bacteria. From our own research in India and China, where most of the world’s generic drugs are made, we know this is an ongoing problem and that very little progress is happening on the ground.

“As the report also highlights, there is a crying lack of transparency about pharmaceutical supply chains which means that we know practically nothing about where our drugs are made. This is a scandal and pharmaceutical companies will face increasing calls to do something about it.”

Antibiotic waste from pharmaceutical manufacturing leaking into the environment is a neglected driver of antimicrobial resistance – or AMR – according to a global report published in 2016 by ex-finance minister Lord Jim O’Neill.

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Big Pharma and Big Profits: The Multibillion Dollar Vaccine Market | Global Research – Centre for Research on Globalization

Big Pharma and Big Profits: The Multibillion Dollar Vaccine Market | Global Research – Centre for Research on Globalization

24-12-17 09:25:00,

First published on January 27, 2016

The business of vaccines is soon to become a major source of profits for the world’s largest pharmaceutical corporations. A press release (Business Wire, January 21st 2016) published by marketwatch.com says that Technavio, one of the leading technology research and advisory companies in the world predicts that pharmaceutical corporations who produce vaccines will reach an estimated $61 billion in profits by 2020.

Today the vaccine market is worth close to $24 billion. The report titled ‘Global Human Vaccines Market 2016-2020’ gives an “in-depth analysis” of the possible revenues and “emerging market trends” globally. According to the Press Release:

The report study indicates that the introduction of new products is fueling the growth of the market. Moreover, the significant expansion of the current product offerings is also expected to boost the market growth. Due to the increasing prevalence rates of various infectious diseases such as diphtheria, influenza, hepatitis, pneumococcal diseases, and meningococcal diseases, there has been a notable increase in the use of vaccines across the globe

What is interesting about the report is that Pharmaceutical corporations are targeting Latin America and the Caribbean with its new vaccines soon to be on the market. Merck & Co, Pfizer and GlaxoSmithKline (GSK) are expected to dominate Latin America and the Caribbean (Puerto Rico currently operates as a manufacturing hub for Merck, Pfizer and Abbott Laboratories):

In terms of geography, the Americas dominated the global human vaccines market in 2015, accounting for about 45% of the total revenue. The US was the largest revenue contributor to this region in the same year, capturing a significant portion of the global market. The Americas will continue to dominate the human vaccines market during the forecast period because of the increase in the prevalence of infectious diseases and cancers. In addition, increase in strategic alliances with expected entry of novel vaccines, is also expected to propel the growth of the market in this region

The report also says that there are two types of human vaccines, Therapeutic (cancer, metabolic disorders, chronic illnesses, and infectious diseases) and Preventable human vaccines markets (pediatric vaccinations) that are estimated to reach $55 billion worldwide. The Atlantic magazine published an article in 2015 titled ‘Vaccines Are Profitable,

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