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Saturday Night time Owls: Rep. Katie Porter Releases Report on Large Pharma Merger Unhealth

While pharmaceutical executives often attempt to portray such consolidation as a means of increasing operational efficiency, the report says “digging deeper” highlights a troubling industry-wide trend of billions of dollars in corporate resources aimed at other pharmaceutical companies with Acquire patents. protected blockbuster drugs rather than using those resources to discover new drugs.

Mergers and acquisitions (M&A) are often conducted to “boost stock prices”, “stop competitors” and “acquire an innovative blockbuster drug with a huge potential source of income”.

“Instead of spending on innovation, Big Pharma hoards its money on salaries and dividends,” the report said, “while smaller companies are being swallowed up, making the market far less competitive.” […]

“Competition is central to capitalism,” said Porter said in a press release launching the report. “As our report shows, Big Pharma has little incentive to invest in new, urgently needed drugs. Instead, pharmaceutical companies can freely use their resources to acquire smaller companies that could otherwise force them to compete.”

“Lives are at stake; it is clear that the federal government needs to reform the evaluation of mergers and patent abuse in the healthcare sector,” Porter added. […]

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“You never change things by fighting against existing reality. To change something, create a new model that makes the existing model obsolete. ” ~~ Buckminster Fuller

BLAST FROM THE PAST

That day at Daily Kos in 2003– No conclusive evidence:

Well, even if government officials exaggerate Powell’s “Adlai moment” at the United Nations next week, there is still some dampening of expectations:

Officials warned that no photo or evidence would definitively prove the administration’s case; Instead, describing what they say is going to be a collection of damn details. “What we are showing is a pattern of behavior,” said a senior administrator. “ You won’t have any pictures of warheads.

I think I am finally determined that war is inevitable. It is a shame that Bush is so intent on going to war that he will risk the lives of thousands, all based on circumstantial evidence.

Obviously Saddam is a brutal dictator and I am sure he has things to hide. But is it a threat to US national security – is it worth throwing away lives and treasures to put down? This case was not made. And it won’t be done. However, this is irrelevant to a government that continues to use discarded “evidence” of a nuclear program (the aluminum tubes) and a hypothetical link to Al Qaeda to justify a war that even superhawks like Normal Schwarzkopf will not buy.

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