Friday, August 26, 2016

The Drug Companies Have Nothing to Worry About

In the following article in USA Today about Mylan, the exploitative company behind the notorious EpiPen, the authors make the point that Mylan is not the only guilty party, but that many drug manufacturers use their market position to extract monopolistic fees from their victims.  See the article here.

In particular, they have a fabulous quote by a market analyst about why investors have nothing to worry about from government legislation.
Some think the fears about government attention on high drug profit margins are overblown. "We believe that this effort (efforts against Mylan's price hikes) likely will follow the same playbook that lawmakers used to shame Gilead, Valeant (VRX), and others," according to Spencer Perlman, analyst at Height Securities. "Congressional hearings and a press onslaught, but no substantive legislative action."

In other words, our politicians, corrupt to the very core, pay lip service to the problem but take no action. As always. As long as they get their money from the corporations, they don't really care about anything else.

The problem with this “business as usual”, is that we are expected to be patient with the process, to trust these people, our representatives, to have our interests at heart, and very clearly they do not. Being patient, and trusting them is in fact part of their game. Therefore it is a reasonable response to demand substantive legislation immediately, or take direct action through the proposition system, and then, of course, to expel these corrupt miscreants, our elected representatives, from office.

Of course, anyone who knows the history here knows there is very little chance of anything good happening. The pharmaceuticals industry is spending over $100 million in the state of California to defeat a proposition designed to allow Medicare to get the same prices as the VA department.

That would be horrible, wouldnt it, to help poor people get their medication?  Why, that violates everything that America and our political system stands for.  You can be sure that our politicians will not allow this to happen.

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