This blog posting represents the views of the author, David Fosberry. Those opinions may change over time. They do not constitute an expert legal or financial opinion.
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Posted on 23rd May 2021 |
Show only this post Show all posts in this thread (Medicine and Health). |
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I strongly recommend that you spend the two minutes needed to watch this video on Twitter (remember to click to enable sound), in which congresswoman Katie Porter questions the CEO of a big pharma company (Abbvie) about their bullshit. Pharmaceutical companies regularly claim poverty because of the "huge costs" of research and development of new drugs ($2.45 billion for Abbvie from 2013 to 2018) , but in fact this pales into insignificance compared to the biggest outgoing, stock buy-backs and shareholder dividends ($50 billion for Abbvie from 2013 to 2018). As Katie Porter points out, the "justification" for the astronomical prices for medicines in the USA is a fairy tale. It is time for consumers and government to stop buying big pharma's bullshit. | |