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

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Whereas pharmaceutical executives usually try to painting such consolidation as a way 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 firms 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 opponents,” and to “purchase an revolutionary blockbuster drug with an unlimited potential income stream.”

“As an alternative of spending on innovation, Huge 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 exhibits, Huge 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 corporations which may in any other case drive 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:

Effectively, at the same time as administration officers hype Powell’s “Adlai second” on the UN subsequent week, there may be nonetheless some dampening of expectations:

Officers cautioned that nobody picture 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 conduct,” a senior administration official stated. ”You are not going to have photos of warheads.

I feel I’m lastly resolved to the truth that struggle is inevitable. It is a disgrace that Bush is so hell-bent on going to struggle that he’ll threat the lives of hundreds to take action, and all on circumstantial proof.

Clearly Saddam is a brutal dictator, and I am positive he is bought issues to cover. However is he a risk to U.S. nationwide safety—value 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 struggle that even super-hawks like Regular Schwarzkopf will not purchase.