Tag Archives: Big Pharma

Big Pharma says they need to charge astronomical prices to pay for research and development. Yet, the amount they spend on manipulating the market to enrich shareholders completely eclipses what's spent on R&D. Today, I confronted a CEO about the industry's lies, with visuals ⤵️ pic.twitter.com/c3jSLr0yVd— Rep. Katie Porter (@RepKatiePorter) May 18, 2021 Tags: big pharma, drug prices...

Must-read. It's short.Not only does this have a potentially huge impact on Big Pharma, but it is also China poking the US in the eye in retaliation for it regards as humiliation. So it is also "saving face."Perhaps the largest and longest lasting impact of the trade war that is already occurring is the change in attitude of Chinese consumers about American products. The Chinese are very nationalistic and patriotic. They are also ethnically proud and justifiably so based on being able to...

“So yeah, we are encouraging people to break the law,” Laufer added. “If you're going to die and you're being denied the medicine that can save you, would you rather break the law and live, or be a good upstanding citizen and a corpse?” Power to the people!MotherboardMeet the Anarchists Making Their Own Medicine Daniel Oberhaus ht Yves Smith at Naked Capitalism

Donald Trump has proved the skeptics wrong, it seems that the American people stand to be big winners as a result of his trade war. The Chinese government announced a major initiative to promote the manufacture and use of generic drugs.... This can matter hugely for people in the United States since if China joins India as a mass producer of high quality generic drugs it will become increasingly difficult for the U.S. drug companies to maintain an island of protected prices in the United...

Value determined by the price the market will bear rather than by cost.  The classical definition of economic rent is market price in excess of cost of production (ht Michael Hudson).Occasional Links & Commentary“Profits above morals and humanity”David F. Ruccio | Professor of Economics, University of Notre Dame