Pharmaceutical Corruption News ArticlesExcerpts of key news articles on pharmaceutical corruption
British drug giant GlaxoSmithKline has finally admitted that thousands of babies in this country were inoculated with a batch of toxic whooping cough vaccines in the 1970s. Some experts believe that these Trivax vaccines - which had not passed critical company safety tests - may have caused permanent brain damage and even fatalities in young children. In 1992, the family of an Irish boy, Kenneth Best, who suffered brain damage from one of these toxic vaccines, was awarded Ł2.7 million in compensation by the Irish Supreme Court. The boy's family finally won this historic case after his mother Margaret made a startling find when sifting through tens of thousands of company documents. She discovered that the Trivax vaccine used on her son, from a batch numbered 3,741, had been released by the company despite it having failed to pass a critical safety test. Documents revealed that the 60,000 individual doses within this batch were known to be 14 times more potent than normal. Last year an investigation by The Observer found evidence to suggest that vaccines from this faulty batch ... had also been used in Britain. Liberal Democrat MP Norman Baker raised questions in the House of Commons, asking whether vaccines from this batch had been given to British babies. Then Health Minister Yvette Cooper wrote to the company asking for information. Now, almost a year later, GlaxoSmithKline has replied that it is 'highly probable' the toxic batches had been used in Britain.
Note: For more along these lines, see concise summaries of deeply revealing news articles on vaccine risks from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.
On June 26, a small South San Francisco company called Vaxart made a surprise announcement: A coronavirus vaccine it was working on had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat Covid-19. The race is on to develop a coronavirus vaccine, and some companies and investors are betting that the winners stand to earn vast profits from selling hundreds of millions – or even billions – of doses to a desperate public. Across the pharmaceutical and medical industries, senior executives and board members ... are making millions of dollars after announcing positive developments, including support from the government, in their efforts to fight Covid-19. After such announcements, insiders from at least 11 companies – most of them smaller firms whose fortunes often hinge on the success or failure of a single drug – have sold shares worth well over $1 billion since March. Senior officials appear to be pouncing on opportunities to cash out. And some companies have awarded stock options to executives shortly before market-moving announcements about their vaccine progress. Some companies are attracting government scrutiny for ... using their associations with Operation Warp Speed as marketing ploys. Vaxart's news release declared: "Vaxart's Covid-19 Vaccine Selected for the U.S. Government's Operation Warp Speed." But Vaxart is not among the companies selected to receive significant financial support from Warp Speed.
Note: MSN strangely removed this article a few days after posting it. A similar article by the New York Times titled "The race for a coronavirus vaccine is making some corporate insiders very rich" is available here. For more along these lines, see concise summaries of deeply revealing news articles on big Pharma corruption and the coronavirus from reliable major media sources.
Painkiller abuse and overdose are lower in states with medical marijuana laws. When medical marijuana is available, pain patients are increasingly choosing pot over powerful and deadly prescription narcotics. Now a new study [provides] clear evidence of a missing link in the causal chain running from medical marijuana to falling overdoses. Researchers at the University of Georgia scoured the database of all prescription drugs paid for under Medicare Part D from 2010 to 2013. In the 17 states with a medical-marijuana law in place by 2013, prescriptions for painkillers and other classes of drugs fell sharply compared with states that did not have a medical-marijuana law. They found that, in medical-marijuana states, the average doctor prescribed 265 fewer doses of antidepressants each year, 486 fewer doses of seizure medication, 541 fewer anti-nausea doses and 562 fewer doses of anti-anxiety medication. But most strikingly, the typical physician in a medical-marijuana state prescribed 1,826 fewer doses of painkillers in a given year. Estimating the cost savings to Medicare from the decreased prescribing, [the study] found that about $165 million was saved in the 17 medical marijuana states in 2013. The estimated annual Medicare prescription savings would be nearly half a billion dollars if all 50 states were to implement similar programs.
Note: The war on drugs has been called a "trillion dollar failure", and an increasing number of deaths are caused by prescription opioid overdose in the US each year. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.
The maker of a drug shown to shorten recovery time for severely ill COVID-19 patients says it will charge $2,340 for a typical treatment course for people covered by government health programs in the United States and other developed countries. Gilead Sciences announced the price Monday for remdesivir, and said the price would be $3,120 for patients with private insurance. The amount that patients pay out of pocket depends on insurance, income and other factors. The price was swiftly criticized; a consumer group called it “an outrage” because of the amount taxpayers invested toward the drug's development. In 127 poor or middle-income countries, Gilead is allowing generic makers to supply the drug; two countries are doing that for around $600 per treatment course. The drug, given through an IV, interferes with the coronavirus’s ability to copy its genetic material. In a U.S. government-led study, remdesivir shortened recovery time by 31% — 11 days on average versus 15 days for those given just usual care. Peter Maybarduk, a lawyer at the consumer group Public Citizen, called the price “an outrage.” “Remdesivir should be in the public domain” because the drug received at least $70 million in public funding toward its development, he said. “The price puts to rest any notion that drug companies will ‘do the right thing’ because it is a pandemic,” Dr. Peter Bach, a health policy expert ... said. “The price might have been fine if the company had demonstrated that the treatment saved lives. It didn’t.”
Note: The March coronavirus package passed in the U.S. "not only omitted language that would have limited drug makers’ intellectual property rights, it specifically prohibited the federal government from taking any action if it has concerns that the treatments or vaccines developed with public funds are priced too high." While many suffer economically from the virus, big Pharma is raking in big bucks. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and the coronavirus from reliable major media sources.
The global insulin market is dominated by three companies: Eli Lilly, the French company Sanofi and the Danish firm Novo Nordisk. All three have raised list prices to similar levels. According to IBM Watson Health data, Sanofi’s popular insulin brand Lantus was $35 a vial when it was introduced in 2001; it’s now $270. Novo Nordisk’s Novolog was priced at $40 in 2001, and as of July 2018, it’s $289. The companies appear to have increased [prices] in lockstep over a number of years, prompting allegations of price fixing. All three companies denied these charges. (In 2010, Mexico fined Eli Lilly and three Mexican companies for price collusion on insulin, an allegation Eli Lilly also denied.) In the United States, a federal prosecutor and at least five state attorneys general are currently investigating the companies’ pricing practices. There is also another, less known corporate entity in the mix: pharmacy benefit managers (PBMs), which include Express Scripts, OptumRx and CVS Health; all are now named in lawsuits on high insulin prices. These corporate entities are powerful special interests. In 2017, the pharmaceutical and health product industry ... spent nearly $280 million on lobbying, the biggest spender by far of 20 top industries, according to the Center for Responsive Politics. The industry also has a revolving door to government. Alex Azar, the head of the Department of Health and Human Services, was the president of Eli Lilly’s U.S. division until 2017.
Note: For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical industry corruption from reliable major media sources.
Investment bankers have pressed health care companies on the front lines of fighting the novel coronavirus, including drug firms developing experimental treatments and medical supply firms, to consider ways that they can profit from the crisis. The largest voices in the health care industry stand to gain from billions of dollars in emergency spending on the pandemic, as do the bankers and investors who invest in health care companies. Over the past few weeks, investment bankers have been candid on investor calls and during health care conferences about the opportunity to raise drug prices. Executives joked about using the attention on Covid-19 to dodge public pressure on the opioid crisis. Health and Human Services Secretary Alex Azar previously served as president of the U.S. division of drug giant Eli Lilly and on the board of the Biotechnology Innovation Organization, a drug lobby group. During a congressional hearing ... Azar rejected the notion that any vaccine or treatment for Covid-19 should be set at an affordable price. "We can't control that price because we need the private sector to invest," said Azar. "The priority is to get vaccines and therapeutics. Price controls won't get us there." The initial $8.3 billion coronavirus spending bill passed in early March ... contained a provision that prevents the government from delaying the introduction of any new pharmaceutical to address the crisis over affordability concerns. The legislative text was shaped, according to reports, by industry lobbyists.
Regulators have approved the first drug with a sensor that alerts doctors when the medication has been taken. The digital pill combines two existing products: the former blockbuster psychiatric medication Abilify - long used to treat schizophrenia and bipolar disorder - with a sensor tracking system first approved in 2012. Experts say the technology could be a useful tool, but it will also change how doctors relate to their patients as they’re able to see whether they are following instructions. The pill has not yet been shown to actually improve patients’ medication compliance, a feature insurers are likely to insist on before paying for the pill. Additionally, patients must be willing to allow their doctors and caregivers to access the digital information. The technology carries risks for patient privacy, too, if there are breaches of medical data or unauthorized use as a surveillance tool, said James Giordano, a professor of neurology at Georgetown University Medical Center. “Could this type of device be used for real-time surveillance? The answer is of course it could,” said Giordano. The new pill, Abilify MyCite, is embedded with a digital sensor that is activated by stomach fluids, sending a signal to a patch worn by the patient and notifying a digital smartphone app that the medication has been taken.
Note: In 2010, it was quietly reported that Novartis AG would be seeking regulatory approval for such "chip-in-a-pill technology". For more along these lines, see concise summaries of deeply revealing news articles on microchip implants and the disappearance of privacy.
The Food and Drug Administration (FDA) is often accused of serving industry at the expense of consumers. This week, [there are reports] of an institutionalized FDA spying program on its own scientists, lawmakers, reporters and academics that included an enemies list of "actors" and collaborators. "Devicegate" dates back at least to January 2009 when scientists ... wrote President Obama that top FDA managers "committed the most outrageous misconduct by ordering, coercing and intimidating FDA physicians and scientists to recommend approval, and then retaliating when the physicians and scientists refused to go along." Unsafe [medical] devices - including those that emit excessive radiation - were approved. For reporting the safety risks, the scientists became targets. Some lost their jobs. The ... reprisals against FDA device reviewers [did not surprise former FDA drug reviewer Ronald Kavanagh]. "After FDA management learned I had gone to Congress about certain issues, I found my office had been entered and my computer physically tampered with," [said Kavanagh]. "Then, after I openly reported irregularities in an antipsychotic drug review and FDA financial collusion with outsiders to ... the House Committee on Oversight and Government Reform, I was threatened with prison. The threats, however, can be much worse than prison. One manager threatened my children - who had just turned 4 and 7 years old - and ... I was afraid that I could be killed for talking to Congress and criminal investigators."
Note: Read more on how the FDA spied on whistle-blowing scientists to suppress safety concerns. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the scientific community.
FBI agents arrested former Insys Therapeutics CEO Michael Babich and five other former company executives on Thursday for allegedly bribing doctors to prescribe an extremely addictive opioid painkiller to patients who didn’t need it. The Department of Justice (DOJ) alleges that the executives took part in a “nationwide conspiracy” to give healthcare providers kickbacks in exchange for the improper prescribing of Subsys - an opioid medication containing the highly addictive substance fentanyl, which is considered even more dangerous than painkillers like Vicodin. Subsys is meant to provide pain relief to cancer patients who are going through particularly excruciating pain episodes. It’s reserved for these neediest of patients due to its potency and addictive qualities. But federal prosecutors allege that Babich and his co-conspirators doled out kickbacks to doctors who prescribed the drug even to non-cancer patients, and even set up a special “reimbursement unit” to sway insurance companies and pharmacy benefits managers to provide coverage for these non-authorized uses. The charges range from racketeering to conspiracy to mail and wire fraud. The FBI’s actions come in the wake of a newly invigorated federal effort to tackle the prescription painkiller epidemic, which has claimed the lives of more than 165,000 Americans since 1999.
Note: These charges come on the heels of an ex-DEA official's public accusation that Congress has been helping drug makers avoid responsibility for their role in the US opioid epidemic. How many deaths and ruined lives are being caused by greedy executives and the politicians in their pockets? For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.
Sugar pills worked as well at preventing kids' migraines as two commonly used headache medicines, but had fewer side effects, in a study that may lead doctors to rethink how they treat a common ailment in children and teens. It's the first rigorous head-to-head test in kids of two generic prescription drugs also used for adults' migraines: topiramate, an anti-seizure medicine, and amitriptyline, an anti-depressant. The idea was to see if either drug could reduce by half the number of days kids had migraines over a month's time. Both drugs worked that well - but so did placebo sugar pills. The results "really challenge what is typical practice today by headache specialists," said study author Scott Powers, a psychologist at Cincinnati Children's Hospital. "The fact that it shows that two of the most commonly used medications are no more effective than a placebo and have adverse effects makes a very clear statement," said Dr. Leon Epstein, neurology chief at Ann & Robert Lurie H. Children's Hospital of Chicago. The only government-approved migraine medication for kids is topiramate. Side effects from the drugs [included] fatigue, dry mouth and forgetfulness. Kids on topiramate also had tingling sensations in their hands, arms, legs or feet. There was one suicide attempt in the topiramate group, another known side-effect of that drug. The side effects were not unexpected, but given the risks, the results suggest the drugs shouldn't be "first-line prevention treatments" for kids' migraines, Powers said.
Note: This study was published in the New England Journal of Medicine. For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Using the playbook of Mylan, Turing and, well, their own company, Valeant Pharmaceuticals has hiked the price of yet another life-saving treatment to astronomical values. This time, it’s calcium EDTA, a lead poisoning treatment that cost US hospitals and poison control centers about $500 for a packet of six ampules (6 grams) before 2012, when Valeant acquired the drug. Poison control experts now say that US centers pay about $5000 per gram for the drug, compared to $15 per gram for Canadians. In a 6-year period ... Valeant increased the US price of the drug by as much as 7200%. Two physicians - Michael Kosnett from the University of Colorado School of Medicine and Timur Durrani at the University of California, San Francisco (UCSF) - expressed their concerns about these price hikes in a letter to U.S. Rep. Elijah Cummings (D-Md), the ranking member of the House Committee on Oversight and Government Reform. According to Kosnett and Durrani, the average price per milliliter for the drug went from $18.57 in 2008 to $1346.37 in 2014. U.S. hospitals have no other source for calcium EDTA. Most of those who develop acute lead poisoning are children. The effects of lead poisoning are lasting and profound. Calcium EDTA is on the World Health Organization’s Model List of Essential Medicines, which lists medications that are most critical for a healthcare system to have on hand.
Note: For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.
EpiPen prices aren't the only thing to jump at Mylan. Executive salaries have also seen a stratospheric uptick. Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase. In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. In 2008 and 2009, Mylan raised the price by 5 percent. At the end of 2009 it tried out a 19 percent hike. The years 2010-2013 saw a succession of 10 percent price hikes. And from the fourth quarter of 2013 to the second quarter of 2016, Mylan steadily raised EpiPen prices 15 percent every other quarter. After Mylan acquired EpiPen the company also amped up its lobbying efforts. In 2008, its reported spending on lobbying went from $270,000 to $1.2 million, according to opensecrets.org. Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools.
A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense. The cost of Medicare’s “catastrophic” prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015. Out of some 2,750 drugs covered by Medicare’s Part D benefit, two pills for hepatitis C infection - Harvoni and Sovaldi - accounted for nearly $7.5 billion in catastrophic drug costs in 2015. Medicare’s catastrophic coverage was originally designed to protect seniors with multiple chronic conditions from the cumulatively high costs of taking many different pills. Beneficiaries pay 5 percent after they have spent $4,850 of their own money. With some drugs now costing more than $1,000 per pill, that threshold can be crossed quickly. Lawmakers who created Part D in 2003 also hoped added protection would entice insurers to participate in the program. Medicare pays 80 percent of the cost of drugs above a catastrophic threshold that combines spending by the beneficiary and the insurer. That means taxpayers, not insurers, bear the exposure for the most expensive patients. Catastrophic spending accounts for a fast-growing share of Medicare’s drug costs, which totaled nearly $137 billion in 2015. The catastrophic share was 37 percent, yet only about 9 percent of beneficiaries reached the threshold for such costs. Catastrophic coverage will soon cost as much as the entire prescription program did when it launched. Experts say the rapid rise in spending for pricey drugs threatens to make the popular prescription benefit financially unsustainable.
Note: Read an excellent essay by former New England Journal of Medicine editor Dr. Marcia Angell exposing The Truth About the Drug Companies. For more along these lines, see concise summaries of deeply revealing Big Pharma profiteering news articles from reliable major media sources.
Cholesterol does not cause heart disease in the elderly and trying to reduce it with drugs like statins is a waste of time, an international group of experts has claimed. A review of research involving nearly 70,000 people found there was no link between what has traditionally been considered “bad” cholesterol and the premature deaths of over 60-year-olds from cardiovascular disease. Published in the BMJ Open journal, the new study found that 92 percent of people with a high cholesterol level lived longer. The authors have called for a re-evaluation of the guidelines for the prevention of cardiovascular disease and atherosclerosis, a hardening and narrowing of the arteries, because “the benefits from statin treatment have been exaggerated”. Co-author of the study Dr Malcolm Kendrick, an intermediate care GP, acknowledged the findings would cause controversy but defended them as “robust” and “thoroughly reviewed”. Vascular and endovascular surgery expert Professor Sherif Sultan from the University of Ireland, who also worked on the study, said cholesterol is one of the “most vital” molecules in the body and prevents infection, cancer, muscle pain and other conditions in elderly people. “Lowering cholesterol with medications for primary cardiovascular prevention in those aged over 60 is a total waste of time and resources, whereas altering your lifestyle is the single most important way to achieve a good quality of life,” he said.
Note: Big Pharma was heavily involved in clinical trials of statins. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.
Genentech and another drugmaker will pay $67 million to settle claims that they misled doctors into prescribing a treatment to lung cancer patients for whom the companies knew it would not work. As a result, some patients may have died earlier than they would have if they had taken more effective drugs, a lawsuit brought by a former Genentech employee and joined by federal prosecutors alleges. From 2006 to 2011 Genentech and its marketing partner OSI Pharmaceuticals promoted Tarceva to treat all patients with non-small-cell lung cancer even though studies had shown that it worked for just those who had never smoked or had a certain gene mutation known as EGFR. Epidermal growth factor receptor is a type of protein found on the surface of cells in the body. The whistle-blower lawsuit was filed in 2011 by Brian Shields, who worked as a Tarceva sales representative and then a product manager. The lawsuit said the companies ... discouraged doctors from testing patients for EGFR. The companies also promoted Tarceva ... by giving doctors illegal kickbacks disguised as fees for making speeches or serving on Genentech’s advisory boards. Sales representatives across the country were “instructed to spend lavishly” on physicians, the case said, and given “an unlimited budget to wine and dine.” Genentech also organized lunches or dinners for lung cancer patients where “patient ambassadors” were paid fees to speak about how Tarceva could be used in ways never approved by regulators, the lawsuit said.
Note: While Genentech was inaccurately describing its new drugs to doctors and patients, this company was also fiercely lobbying to prevent others from selling affordable alternatives to its costly drugs. Practices like this, along with the suppression of promising cancer research, show how Big Pharma puts profit before people.
More than a decade ago, researchers at Gilead Sciences thought they had a breakthrough: a new version of the company’s key HIV medicine that was less toxic to kidneys and bones. Clinical trials ... seemed to support their optimism. Patients needed just a fraction of the dose, creating the chance of far fewer dangerous side effects. But in 2004 ... Gilead executives stopped the research. The results of the early patient studies would go unpublished for years as the original medication - tenofovir - became one of the world’s most-prescribed drugs for HIV, with $11 billion in annual sales. In 2010, Gilead restarted those trials. A year of treatment with Gilead’s HIV medicines costs about $30,000. Earlier this year, the Los Angeles-based AIDS Healthcare Foundation, which operates clinics and pharmacies for AIDS patients, sued Gilead, contending that it delayed the less toxic form of tenofovir to manipulate the patent system and keep prices artificially high. Animal studies showed that [tenofovir] could cause damage to the kidneys and bones. When the drug was approved in 2001, the FDA required Gilead to study whether the medicine would harm humans in the same way. [By] 2003, the company had received so many reports of patients experiencing kidney failure and other ... problems that it placed a warning on the drug’s label. Several times, U.S. regulators formally warned Gilead that it was downplaying the drug’s risks.
Note: After the FDA warned Gilead that its sales reps were illegally lying to doctors about tenofovir's safety, Gilead continued misrepresenting this drug, prompting the FDC to send the company a rare second warning letter. For more along these lines, see concise summaries of deeply revealing big Pharma profiteering news articles from reliable major media sources.
Antibiotic-resistant bacteria has been a growing concern in the United States, leading to thousands of deaths each year. Doctors prescribing antibiotics unnecessarily is a big contributor to the problem, and now a new analysis of government data [has] found that an estimated 30 percent of outpatient oral antibiotic prescriptions in the U.S. from 2010 to 2011 may have been unwarranted. According to the Centers for Disease Control and Prevention, antibiotic-resistant infections affect 2 million people and lead to about 23,000 deaths annually. "Antibiotic resistance is one of the most urgent public health threats of our time," Dr. Katherine E. Fleming-Dutra, of the CDC, told CBS News. "The use of antibiotics is the single most important factor leading to resistance." For the study, Fleming-Dutra and her team analyzed two CDC national surveys. The results showed that about half of the antibiotics prescribed for acute respiratory infections, including the common cold, bronchitis, and viral sore throat, may have been unnecessary. Across all conditions, about 30 percent of antibiotic prescriptions were inappropriate from 2010 to 2011. "This equates to about 47 million unnecessary antibiotic prescriptions written every year in the United States," Fleming-Dutra said. The strategy to improve outpatient antibiotic prescribing is twofold. Doctors need to be more cautious about prescribing antibiotics unnecessarily. Patients can play a role in stopping antibiotic misuse, too, [by expressing] their concerns about antibiotic overuse to their clinicians.
Note: Big Pharma profits handsomely from unnecessary drug prescriptions. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.
Dr Aseem Malhotra, an NHS cardiologist and a trustee of the King’s Fund health think tank, claims there is “a systemic lack of transparency in the information being given to doctors to prescribe medication, in terms of the benefits of drugs being grossly exaggerated and their side effects under reported in studies”. Dr Malhotra said the prevalence of pharmaceutical companies, which are “profit making businesses” being able to fund studies and drug trials causes biased information to be recorded and reported on in medical journals. This is in turn “creating an epidemic of misinformed doctors,” he said. This lack of transparency ... harms patients through the adverse side effects of drugs, Dr Malhotra said, citing an FDA report that found adverse events from prescribed medications caused 123,000 deaths in the USA in 2014 and 800,000 serious patient outcomes, which include hospitalisation or potentially causing disability. The FDA report also states that the number of adverse events from prescribed medications have tripled in the past 10 years in America. While the UK does not have the same kind of data, Peter Gotze, professor of research design at the University of Copenhagen, has evidence to suggest that prescribed drugs are the third biggest killer behind heart disease and cancer. Last year the Academy of Medical Royal Colleges launched a campaign to stop doctors from ‘over-treating’ patients.
Note: The editor of The Lancet, one of the most prestigious medical journals in the world, recently wrote that half of all claims made in medical science journals may be untrue. For more along these lines, see concise summaries of deeply revealing big Pharma profiteering news articles from reliable major media sources.
Bill and Melinda Gates are facing calls for their philanthropic Foundation, through which they have donated billions worldwide, to be subject to an international investigation. The Gates Foundation is about benefiting big business, especially in agriculture and health, through its “ideological commitment to promote neoliberal economic policies and corporate globalisation,” according to [a] report published by the campaign group Global Justice Now. The report accuses the Gates Foundation of [turning] “basic needs into commodities controlled by the market.” The report is critical of the close working relations between the Foundation and major international pharmaceutical corporations. It accuses the Gates Foundation of promoting specific priorities through agriculture grants, some of which undermine the interests of small farmers. These include promoting industrial agriculture, use of chemical fertilisers and expensive, patented seeds, and a focus on genetically modified seeds. The criticism echoes the accusations made by the Indian scientist Vandana Shiva who called the Gates Foundation the “greatest threat to farmers in the developing world.” The Foundation’s emphasis on “technological solutions” often ignores real solutions involving social and economic justice. “This cannot be given by donors in the form of a climate-resilient crop or cheaper smartphone, but must be about systemic social, economic and political change – issues not represented in the foundation’s funding priorities.”
Note: The Gates Foundation is heavily invested in GMO giants like Monsanto. It also provided $5 million to Oxitec, a company criticized for secretly releasing GM mosquitoes into the wild in 2009. Oxitec was purchased last August by biotech giant Intrexon for $160 million. By December, the Zika virus was all over the news and Intrexon was ramping up production of these GM insects to "fight Zika" in Brazil. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
After Martin Shkreli raised the price of anti-parasitic drug Daraprim more than 50-fold to $750 a pill last year, he said he wasn’t alone in taking big price hikes. The former drug executive was right. A survey of about 3,000 brand-name prescription drugs found that prices more than doubled for 60 and at least quadrupled for 20 since December 2014. Skyrocketing prices are getting increased scrutiny ahead of a U.S. congressional hearing this week: Democratic Representative Elijah Cummings, ranking member on a committee that is probing drug pricing, said Tuesday that pricing “tactics are not limited to a few ‘bad apples,’ but are prominent throughout the industry.” The cost of many drugs [rises] at annual rates of more than 10 percent. Drugmakers raised the prices of products as wide-ranging as erectile dysfunction drug Viagra, heart treatments, dermatology medicine and even brands that long have lost their patents. While specialty companies have had the steepest hikes, giants such as Pfizer Inc. and GlaxoSmithKline Plc kept pushing through smaller rises. About 400 formulations of brand-name drugs went up at least 9.9 percent since early December. Valeant Pharmaceuticals International Inc., which in recent months has been under fire for its pricing was among the most aggressive, with 13 drugs that doubled or more since December 2014.
Note: For more excellent information on drug prices hikes, read this penetrating article in the Daily Beast. For more along these lines, see concise summaries of deeply revealing big pharma profiteering news articles from reliable major media sources.
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