Saturday Night time Owls: Rep. Katie Porter releases report on the unhealthiness of Large Pharma mergers

Whereas pharmaceutical executives typically try to painting such consolidation as a method 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 recent medicine.”

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

“As an alternative 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 exhibits, Large Pharma has little incentive to spend money on new, critically wanted medicine. As an alternative, pharmaceutical giants are free to dedicate their assets 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. […]

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

Effectively, 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 an alternative, 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 footage of warheads.

I believe 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 certain he is acquired issues to cover. However is he a risk 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.

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