Rep. Katie Porter (D-Calif.) published a damning report on Jan. 29 outlining the horrors of this deathcare system, and calling on Congress to enact “comprehensive, urgent reform” to fix it.
Entitled, “Killer Profits: How Big Pharma Takeovers Destroy Innovation and Harm Patients,” Porter’s report reveals how in just the past decade alone, the number of “large, international pharmaceutical companies (has) decreased six-fold, from 60 to 10.”
The claim by company executives is that these consolidations are needed to increase operational efficiency, however Porter’s report explains that “digging a level deeper” exposes “a troubling industry-wide trend of billions of dollars of corporate resources going toward acquiring other pharmaceutical corporations with patent-protected blockbuster drugs instead of putting those resources toward discovery of new drugs.”
In truth, nearly every pharmaceutical merger and acquisition that takes place is meant to boost stock prices, stop competitors, and / or acquire some new blockbuster drug that has the potential to bring in an enormous revenue stream.
It is all about the money, in other words. We know the pharmaceutical industry does not care one iota about helping people get healthy because pharmaceutical drugs cause more harm than good, despite being the only approved form of “medicine” in America.
“Instead of spending on innovation, Big Pharma is hoarding its money for salaries and dividends,” the report explains, “all the while swallowing smaller companies, thus making the marketplace far less competitive.”...<<<Read The Full Article Here>>>...
