Pharmaceutical Corruption News StoriesExcerpts of Key Pharmaceutical Corruption News Stories in Major Media
This comprehensive list of pharmaceutical corruption news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Throughout my career as a psychiatrist, I have found, on a clinical and scientific basis, psychiatric drugs do much more harm than good. My professional website (www.breggin.com) began as an attempt to present my scientific research. At the time that I started my reform efforts in the early 1970s, I was nearly alone among psychiatrists or any other professionals in standing up to the pharmaceutical industry, the electroshock industry, the American Psychiatric Association, the AMA, and other members of what I defined as the “psychopharmaceutical complex.” When taken for months or years, all psychiatric drugs can seriously damage the brain, prevent recovery, and ruin the individual’s quality of life. The psychiatric model of human suffering has caused untold damage to hundreds of millions of victims of involuntary treatment, psychiatric hospitals, drugs and electroshock. It has also set back civilization by undermining Western traditions of individuality, personal responsibility, and love. It has convinced modern society that emotional suffering is based in so-called biochemical imbalances when in reality it is rooted in a complex combination of human nature, individual experience and choice-making, and societal influences. This flawed biological model ignores all the important realities in human life from the dreadful effects of childhood trauma and adult disappointment and loss to the importance of living by worthwhile principles and ideals.
Note: Learn about Dr. Breggin’s key role in stopping lobotomies and much more in this informative interview. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Pfizer chairman Albert Bourla told NBC’s Dateline host Lester Holt that the pharmaceutical company was “not certain” if the vaccine prevented the coronavirus from being transmitted, saying: “This is something that needs to be examined.” In a prime-time special titled “Race for a Vaccine” ... Holt questioned Bourla and other individuals involved in the development and distribution of the vaccine. In November, Pfizer announced that its vaccine candidate had been shown to be more than 90% effective at preventing COVID-19 and has applied for emergency use authorization from the Food and Drug Administration (FDA). The U.K. became the first country to approve Pfizer’s vaccine this week with the first round of immunizations expected to roll out next week. In August, Canada signed a deal with Pfizer for 20 million doses of the vaccine. In a list of interview highlights released before the special, Holt asked Bourla: “Even though I’ve had the protection, am I still able to transmit it to other people?” “I think this is something that needs to be examined. We are not certain about that right now with what we know,” Bourla responded.
Note: An MSN article reported that a 41-year-old Portuguese health worker died two days after getting the Pfizer vaccine, but then removed the article. Learn more about this death in this article. A Florida doctor also died after receiving the vaccine. This CDC report states “December 14–23, 2020, monitoring … detected 21 cases of anaphylaxis after administration of a reported 1,893,360 first doses of the Pfizer-BioNTech COVID-19 vaccine.” For more, explore the excellent, reliable resources provided in our Coronavirus Information Center.
Vaccines are ... under investigation for the possible side effects they can cause. In order to supply new information, an electron-microscopy investigation method was applied to the study of vaccines, aimed at verifying the presence of solid contaminants by means of an Environmental Scanning Electron Microscope equipped with an X-ray microprobe. The results of this new investigation show the presence of micro- and nanosized particulate matter composed of inorganic elements in vaccines’ samples which is not declared among the components and whose ... presence is, for the time being, inexplicable. A considerable part of those particulate contaminants have already been verified in other matrices and reported in literature as non biodegradable and non biocompatible. The evidence collected is suggestive of some hypotheses correlated to diseases that are mentioned and briefly discussed. Recently, with the worldwide-adopted vaccines against Human Papillomavirus (HPV), the debate was reawaken[ed] due to some adverse effects reported by some young subjects. Specific studies communicated the existence of symptoms related to never-described-before syndromes developed after the vaccine was administered. For instance, Complex Regional Pain Syndrome (CRPS), Postural Orthostatic Tachycardia Syndrome (POTS), and Chronic Fatigue Syndrome (CFS) ... side-effects that can arise within a relatively short time can be local or systemic.
Note: For lots more, see this highly revealing article. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
US-based pharmaceutical giant Pfizer has made the first compensation payment to Nigerian families affected by a controversial drug trial 15 years ago. It paid $175,000 (£108,000) each to four families in the first of a series of payments it is expected to make. The payouts are part of an out-of-court settlement reached in 2009. In 1996, 11 children died and dozens were left disabled after Pfizer gave them the experimental anti-meningitis drug, Trovan. The payouts were made to the parents of four of the children who died. Their parents told the BBC they welcomed the payment, but it would not replace the loss of their loved ones. The children were part of a group of 200 given the drug during a meningitis epidemic in the northern city of Kano as part of a medical trial comparing Trovan's effectiveness with the established treatment. For years Pfizer maintained that meningitis - not the drug - caused the deaths and disabilities. But after a lengthy and expensive litigation process, it reached a settlement with the Kano government in northern Nigeria. The trials were carried out in Kano and the state government fought Pfizer on behalf of victims and their families. It has taken two years and DNA tests to establish who is entitled to payments, the BBC's Jonah Fisher in Lagos says. It could take another year for payments to be concluded, he says. Pfizer also agreed to sponsor health projects in Kano as well as creating a fund of $35m to compensate those affected.
Note: A BMJ article about this case states, “The families allege that the company failed to tell them that their children were being enrolled in an experimental drug trial and that free, effective treatment was available ... at the same hospital. Five children in the trovafloxacin arm and six in the ceftriaxone arm died, according to Pfizer.” For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
When nurse Meleney Gallagher was told to line up with her colleagues on the renal ward at Sunderland Royal Hospital, for her swine flu vaccination, she had no idea the injection she was about to have had not gone through the usual testing process. It had been rushed into circulation after the swine flu virus had swept across the globe in 2009. Gallagher was one of thousands of NHS staff vaccinated with Pandemrix, a vaccine made by pharmaceutical giant GlaxoSmithKline (GSK). Eight years later, her career in the NHS is a memory and she's living with incurable, debilitating narcolepsy and suffers from cataplexy, a sudden, uncontrollable loss of muscle tone that can cause her to collapse without warning. Because of her condition, she can no longer work or drive. People with narcolepsy experience chronic fatigue and difficulty sleeping at night. They can have night terrors, hallucinations, and a range of mental health problems. Gallagher is not alone. More than a dozen frontline NHS staff are among around 1,000 adults and children across Europe who are believed to have developed narcolepsy after being given Pandemrix. Gallagher and four other NHS professionals – two nurses, a community midwife, and a junior doctor – have told how they felt pressured into receiving the vaccine, were given misleading information, and ultimately lost their careers. They are all suing GlaxoSmithKline seeking compensation for what they believe was a faulty drug that has left them with lifelong consequences.
Note: Yet the media and big Pharma continually tout the safety of their vaccines. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
Ask people to name Pfizer’s best-selling product and many would opt for one of its most famous drugs: Viagra, for erectile dysfunction, or Lipitor, to reduce high cholesterol. But they would all be wrong. The top-seller is not a drug but a vaccine: Prevnar, which prevents pneumonia, meningitis and other infections caused by pneumococcus bacteria. Prevnar generated revenues of $6.25bn last year — almost three times as much as Viagra. This was up 40 per cent from the year before, after the expert panel that advises on US vaccine policy recommended its use in over-65s as well as in children. Pfizer is one of just four pharma groups with large vaccines operations. The others are GlaxoSmithKline of the UK, Sanofi of France and Merck of the US. All four reported stronger sales growth in vaccines than in pharmaceuticals last year and operating margins were comparable with pharma at around 25-30 per cent. Pricing remains a sensitive topic, however, especially in the developing world. Médecins Sans Frontières, the health charity, last month launched a challenge against Pfizer’s patent on Prevnar in a bid to allow Indian companies to produce the vaccine cheaper. Manica Balasegaram, executive director of the MSF Access Campaign, says it could be produced in India for $6 per child, compared with Pfizer’s reduced $10 price. Critics argue that consolidation in the industry has left too few companies, developing too few vaccines — and that those that do exist tend to be aimed at rich countries.
Note: Read this eye-opening article showing how powerful financial interests control the public narrative about vaccines. For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
The announcement this week that a cheap, easy-to-make coronavirus vaccine appeared to be up to 90 percent effective was greeted with jubilation. But since unveiling the preliminary results, AstraZeneca has acknowledged a key mistake in the vaccine dosage received by some study participants, adding to questions about whether the vaccine's apparently spectacular efficacy will hold up under additional testing. Scientists and industry experts said the error and a series of other irregularities and omissions in the way AstraZeneca initially disclosed the data have eroded their confidence in the reliability of the results. The regimen that appeared to be 90 percent effective was based on participants receiving a half dose of the vaccine followed a month later by a full dose; the less effective version involved a pair of full doses. AstraZeneca disclosed in its initial announcement that fewer than 2,800 participants received the smaller dosing regimen, compared with nearly 8,900 participants who received two full doses. Moncef Slaoui, the head of Operation Warp Speed, the U.S. initiative to fast-track coronavirus vaccines, noted another limitation in AstraZeneca's data. On a call with reporters, he suggested that the participants who received the half-strength initial dose had been 55 years old or younger. The fact that the initial half-strength dose wasn't tested in older participants, who are especially vulnerable to Covid-19, could undermine AstraZeneca's case to regulators that the vaccine should be authorized for emergency use.
Note: Learn in this revealing article how vaccine trials are rigged. This article spells out how vaccine makers are above the law and face no consequences for damage from vaccines. For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and vaccines from reliable major media sources.
Purdue Pharma, the maker of OxyContin, pleaded guilty Tuesday to three federal criminal charges related to the company's role in creating the nation's opioid crisis. Purdue Pharma board chairman Steve Miller pleaded guilty on behalf of the company during a virtual federal court hearing in front of US District Judge Madeline Cox Arleo. The counts include one of dual-object conspiracy to defraud the United States and to violate the Food, Drug, and Cosmetic Act, and two counts of conspiracy to violate the Federal Anti-Kickback Statute. The plea deal announced in October includes the largest penalties ever levied against a pharmaceutical manufacturer, including a criminal fine of $3.544 billion and an additional $2 billion in criminal forfeiture, according to a Department of Justice press release. According to the US Centers for Disease Control and Prevention, about 70,000 Americans died of drug overdoses in 2018, just one year of the opioid crisis, and about 70% of those deaths were caused by prescription or illicit opioids like OxyContin. Several civil lawsuits against Purdue Pharma related to the opioid crisis are still ongoing as the company undergoes bankruptcy proceedings. The Plaintiffs' Executive Committee in the National Prescription Opiate Litigation Multi-District Litigation called Purdue Pharma's guilty plea "long overdue." "Their illegal and profit-seeking actions were egregious. It is important to note, however, that they are just one company in one part of the larger opioid supply chain," [the plaintiffs'] attorneys ... said.
Note: The company pays huge fines for the deaths of countless thousands, yet the CEO and others responsible face no legal charges. Where is the deterrent for this egregious behavior? For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
People who work at the U.S. Food and Drug Administration (FDA) as medical reviewers are responsible for parsing the risks and benefits of a particular drug before it gets the agency’s approval. But a new report from two researchers at the Oregon Health and Science University, published in the journal The BMJ, suggests many of these medical reviewers go on to work for the drug companies they oversaw while working for the government. The study’s authors ... looked at the FDA’s list of haematology-oncology drug approvals from 2006 to 2010 and scanned all medical reviews from 2001 to 2010 in the agency’s database, then looked up the subsequent jobs of the people who worked as medical reviewers for those drug approvals. The researchers found that among 55 people who worked as haematology-oncology medical reviewers from 2001 to 2010, 27 continued in their roles at the FDA, two people worked at the FDA but held other appointments, and 15 left the FDA to work with or consult for the biopharmaceutical industry. “If you know in the back of your mind that a major career opportunity after the FDA is going to work on the other side of the table, I worry it can make you less likely to put your foot down,” says study author Dr. Vinay Prasad. “Regulators may be less willing to be very tough, and I worry that is happening.” Prasad says he would like to see more transparency from the FDA on the number of people who go from the agency to the drug industry.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in Big Pharma from reliable major media sources.
The Trump administration this month announced that one of its largest pandemic-related contracts would go to a little-known biodefense company named Emergent BioSolutions. The $628 million deal to help manufacture an eventual vaccine cemented Emergent's status as the highest-paid and most important contractor to the HHS office responsible for preparing for public health threats and maintaining the government's stockpile of emergency medical supplies. Emergent has long been the government's sole provider of BioThrax, a vaccine for anthrax poisoning. Emergent's advocacy for biodefense spending over more than a decade was aided by influential allies in Washington and tens of millions of dollars in lobbying campaigns. "It has strategically placed itself to be, let's just say, the company that can't fail," said a former senior government official who worked with Emergent on stockpile operations. The company that would become Emergent began as BioPort Corp., formed in 1998 to buy an aging, state-owned company in Lansing, Mich., that was the only licensed supplier of anthrax vaccine to the Pentagon. The Pentagon ... awarded a $29 million no-bid contract for the anthrax vaccine, BioThrax. Controversy swamped the operation. Hundreds of U.S. troops who received the BioThrax treatment complained of bad reactions, such as headaches and nerve problems. Some troops risked courts-martial by refusing vaccination. Emergent spent nearly $4 million on lobbying last year alone.
Note: To understand the huge influence of lobbying and profits on the development and stockpiling of vaccines, don't miss reading this entire, eye-opening article. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and vaccines from reliable major media sources.
The Food and Drug Administration is under pressure from the Trump administration to approve drugs faster, but researchers at the Yale School of Medicine found that nearly a third of those approved from 2001 through 2010 had major safety issues years after the medications were made widely available to patients. Seventy-one of the 222 drugs approved in the first decade of the millennium were withdrawn, required a "black box" warning on side effects or warranted a safety announcement about new risks, Dr. Joseph Ross ... and colleagues reported in JAMA. The Yale researchers' previous studies concluded that the FDA approves drugs faster than its counterpart agency in Europe does and that the majority of pivotal trials in drug approvals involved fewer than 1,000 patients and lasted six months or less. It took a median of 4.2 years after the drugs were approved for these safety concerns to come to light, the study found, and issues were more common among psychiatric drugs, biologic drugs, drugs that were granted "accelerated approval" and drugs that were approved near the regulatory deadline for approval. "All too often, patients and clinicians mistakenly view FDA approval as [an] indication that a product is fully safe and effective," [Dr. Caleb Alexander] says. "Nothing could be further from the truth. We learn tremendous amounts about a product only once it's on the market and only after use among a broad population."
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and health from reliable major media sources.
The chairman and CEO of Pfizer, Albert Bourla, sold $5.6 million worth of stock in the pharmaceutical company on Monday. The sale took place on the same day Pfizer announced that its experimental coronavirus vaccine candidate was found to be more than 90% effective. Bourla's sale of Pfizer stock was part of a trading plan set months in advance. Known as 10b5-1 plans, they essentially put stock trades on autopilot. Executives are supposed to adopt these plans only when they are not in possession of inside information that can affect a company's stock price. On Aug. 19, Bourla implemented his stock-trading plan. The next day, Aug. 20, Pfizer issued a press release ... confirming that Pfizer and its German partner, BioNTech, were "on track to seek regulatory review" for its vaccine candidate. Daniel Taylor, an expert in insider trading ... told NPR that the close timing between the adoption of Bourla's stock plan and the press release looked "very suspicious." "It's wholly inappropriate for executives at pharmaceutical companies to be implementing or modifying 10b5-1 plans the business day before they announce data or results from drug trials," Taylor said. The stock sales by Pfizer's CEO brought to mind similar concerns with another coronavirus vaccine-maker, Moderna. Multiple executives at Moderna adopted or modified their stock-trading plans just before key announcements about the company's vaccine. Those executives have sold tens of millions of dollars in Moderna stock.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.
Moderna CEO St©phane Bancel more than tripled the number of his company shares to be sold through an executive stock plan that was changed just days after the biotech in May announced positive early results for its coronavirus vaccine. Moderna's shares spiked on the May news, rising 30% in just one day. After seeking the executive stock plan change in May, Bancel sold more than 72,000 Moderna shares in the first 16 days of July, generating nearly $4.8 million for the executive. That was more than triple the 22,000 shares he had previously scheduled to sell during the same period through the company's executive trading plan. Another top Moderna executive, President Stephen Hoge, also had his pre-programmed executive trading plan reset around the same time. The change allowed him to sell $1.9 million worth of Moderna stock in the first two weeks of July. The executives' ... sales were made through what are known as 10b5-1 stock plans. These arrangements must be set up or amended at least 30 days before any transactions are executed; they are commonly used at publicly traded companies to help shield executives from potential claims of insider trading. The fact that the plans were changed during the pandemic as news was emerging about the company's closely watched coronavirus vaccine raises new questions about how Moderna executives have pocketed millions of dollars in recent months.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.
The development of the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment. In January ... Regeneron struck an agreement with a division of Department of Health and Human Services known as the Biomedical Advanced Research and Development Authority, or BARDA, to receive up to $81 million for work on antibodies that would prevent Covid-19 from infecting cells by attaching to the spikes on its surface. The two antibodies Regeneron chose were developed using cell lines that were derived from the kidney tissue of an aborted fetus. The January contract [lacks] a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” While Trump promised that the government would provide the antibody cocktail to Americans for free, drug pricing efforts say that many people probably won’t have access to the treatment at all, let alone at an affordable price. “You have massive public investment, but ... it doesn’t benefit public health,” [said drug pricing expert Zain Rizvi].
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources.
Purdue Pharma LP agreed to plead guilty to criminal charges over the handling of its addictive prescription opioid OxyContin, in a deal with U.S. prosecutors that effectively sidestepped paying billions of dollars in penalties and stopped short of criminally charging its executives or wealthy Sackler family owners. Prosecutors imposed significant penalties exceeding $8 billion against Purdue, though the lion's share will go largely unpaid. Purdue agreed to pay $225 million toward a $2 billion criminal forfeiture, with the Justice Department foregoing the rest if the company completes a bankruptcy reorganization dissolving itself and shifting assets to a "public benefit company," or similar entity, that steers the $1.775 billion unpaid portion to thousands of U.S. communities suing it over the opioid crisis. A $3.54 billion criminal fine and $2.8 billion civil penalty are likely to receive cents on the dollar as they compete with trillions of dollars of other claims from those communities and other creditors in Purdue's bankruptcy proceedings. Members of the billionaire Sackler family who own Purdue agreed to pay a separate $225 million civil penalty for allegedly causing false claims for OxyContin to be made to government healthcare programs such as Medicare, according to court records. Neither the Sacklers nor any Purdue executives were criminally charged. Purdue reaped more than $30 billion from sales of OxyContin over the years, enriching Sackler family members while funneling illegal kickbacks to doctors and pharmacies.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Rep. Katie Porter (D-Calif.) got out her marker and scrawled a figure on the whiteboard beside her: $13 million. Do you know what this number is? she asked Mark Alles, the former CEO of the pharmaceutical company Celgene, as he testified remotely before the House Oversight Committee on Wednesday. Does it ring any bells? Alles could hardly get his answer out before Porter scribbled more math on the board. That multimillion figure his total compensation in 2017 was already 200 times the average income in the United States, the congresswoman pointed out. It got even larger, she said, after Celgene needlessly tripled the cost of a cancer medication, thus securing himself hefty bonuses in return. As of early Thursday, the rapid-fire interrogation had been viewed more than 15 million times on Twitter the latest in a long list of her viral cross-examinations. These stunning exchanges at congressional hearings have themselves gained plenty of attention beyond Capitol Hill especially when Porter pulls out what one person on Twitter dubbed her mighty whiteboard of truth. It is this kind of clear, insistent inquiry that has made Porter a consumer protection lawyer ... who studied bankruptcy law under Sen. Elizabeth Warren (D-Mass.) so effective at grilling everyone from Mark Zuckerberg to little-known Trump appointees, all with a dry-erase marker and some simple math. No one has ever wielded a weapon as terrifying as Katie Porters whiteboard, wrote Molly Wood, a public radio journalist.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Whether the coronavirus vaccine developed by Moderna succeeds or not, executives at the small biotech company have already made tens of millions of dollars by cashing in their stock. An NPR examination of official company disclosures has revealed additional irregularities and potential warning signs. Since January, CEO Stéphane Bancel has sold roughly $40 million worth of Moderna stock; Chief Medical Officer Tal Zaks has sold around $60 million; and President Stephen Hoge has sold more than $10 million. The stock sales first came to widespread notice after Moderna announced positive early data from a vaccine trial in May. At that point, the company's share price jumped and official disclosures showed executives cashing in their shares for millions of dollars. Advocates have questioned whether it's appropriate for executives to privately profit before bringing the vaccine to market, especially when American taxpayers have committed roughly $2.5 billion to the company's vaccine development. Moderna says its executives pre-scheduled their stock sales long in advance. Those schedules - known as 10b5-1 plans - can act as a defense to charges of insider trading. But the plans have to be put in place when executives do not have confidential inside information. NPR has found multiple executives adopted or modified their plans just before key announcements about the company's vaccine. That has raised questions about whether they were aware of nonpublic information when they planned their stock trades.
Note: Explore a revealing NBC article titled “Secret, powerful panels will pick Covid-19 vaccine winners.” For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
AstraZeneca revealed details of its large coronavirus vaccine trials on Saturday, the third in a wave of rare disclosures by drug companies under pressure to be more transparent about how they are testing products that are the world’s best hope for ending the pandemic. Polls are finding Americans increasingly wary of accepting a coronavirus vaccine. Experts have been particularly concerned about AstraZeneca’s vaccine trials, which began in April in Britain, because of the company’s refusal to provide details about serious neurological illnesses in two participants, both women, who received its experimental vaccine in Britain. Those cases spurred the company to halt its trials twice, the second time earlier this month. The studies have resumed in Britain, Brazil, India and South Africa, but are still on pause in the U.S. About 18,000 people worldwide have received AstraZeneca’s vaccine so far. The company has released few details about the two cases of serious illness in its trial. The first participant received one dose of the vaccine before developing inflammation of the spinal cord, known as transverse myelitis. The condition can cause weakness in the arms and legs, paralysis, pain and bowel and bladder problems. The company said it had not confirmed a diagnosis in the second case, a participant who got sick after the second dose of the vaccine. A person familiar with the situation who spoke with The Times on the condition of anonymity said the participant’s illness had been pinpointed as transverse myelitis.
Note: Why won’t the company let the two who became seriously ill speak to the media? And why initially did they hide the fact that the illnesses were serious? And why are top vaccine executives now dumping their shares of stocks? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma corruption from reliable major media sources.
What Americans need to understand about the race to find vaccines and treatments for Covid-19 is that in the U.S., even when companies appear to downshift from maximum greed levels — and it’s not at all clear they’ve done this with coronavirus treatments — the production of pharmaceutical drugs is still a nearly riskless, subsidy-laden scam. Americans reacted in horror five years ago when a self-satisfied shark of an executive named Martin Shkreli, a.k.a. the “Pharma Bro,” helped his company, Turing Pharmaceuticals, raise the price of lifesaving toxoplasmosis drug Daraprim from $13.50 to $750 per pill. Shkreli, who smirked throughout congressional testimony ... was held up as a uniquely smug exemplar of corporate evil. Really, the whole industry is one big Shkreli, and Covid-19 — a highly contagious virus with unique properties that may require generations of vaccinations and booster shots — looms now as the ultimate cash cow for lesser-known Pharma Bros. “The power of the industry combined with fear is driving extraordinary spending,” says U.S. Rep. Lloyd Doggett (D-Texas), who has been ... warning about pandemic profiteering. “It all suggests rosy times ahead for the pharmaceutical industry.” Recent House and Senate emergency-spending bills allocate as much as $20 billion or more for vaccine development, and another $6 billion for manufacturing and distribution. “The public will pay for much research and manufacturing,” says Doggett. “Only the profits will be privatized.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and Big Pharma profiteering from reliable major media sources
OxyContin maker Purdue Pharma should not be able to make any more political contributions without a judges permission, lawyers for its creditors said in a court filing. The issue came up this week after it was reported that the company, which has a long history of influencing policymakers, made contributions to national associations representing state attorneys general and governors. The money was sent after Purdue entered bankruptcy protection last year in an effort to settle thousands of lawsuits accusing it of helping spark an opioid addiction and overdose epidemic that has contributed to more than 400,000 deaths in the U.S.. State attorneys general are among those trying to negotiate a nationwide settlement. The committee of creditors that asked for recipients to return the money to Purdue said the contributions represent a conflict. The Political Contributions $185,000 in donations to associations whose members include the very public servants with whom the Debtors are attempting to negotiate a consensual resolution of these cases are precisely the sort of transaction that demand close scrutiny, they said in a filing. In 2016, an investigation by The Associated Press and the Center for Public Integrity found that Purdue and other companies in the opioid industry, along with the advocacy groups largely funded by the industry, spent more than $880 million from 2006 through 2015 to influence state and local governments. Those efforts helped fight off restrictions on drug prescriptions.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
