"Moderna is quadrupling the cost of covid vaccines, from $26/dose to $110-130. Moderna CEO Stephane Bancel calls the price hike "consistent with the value" of the mRNA vaccines. Moderna's manufacturing costs are $2.85/dose, for a 4,460% markup on every dose...
What will Moderna do with the billions it reaps through price-gouging? It won't be research. To date, the company has spent >20% of its covid windfall profits on stock buybacks and dividends, manipulating its stock price, with more to come...
It's not an outlier. Big Pharma is a machine for commercializing publicly funded research and then laundering the profits with financial engineering. The largest pharma companies each spend more on stock buybacks than research."
"The Biden administration has determined that it has the authority to seize the patents of certain high-priced medicines, a move that could open the door to a more aggressive federal campaign to slash drug prices."
Big Pharma doesn't innovate. They gouge us on drugs developed with our tax dollars. Dark Brandon isn't having their malarkey.
How a #BigPharma Company Stalled a Potentially Lifesaving #Vaccine in Pursuit of Bigger Profits
A vaccine against #tuberculosis, the world’s deadliest infectious disease, has never been closer to reality, with the potential to save millions of lives.
But its development slowed after its corporate owner #GSK focused on more profitable vaccines.
"Democratic Reps. Scott Peters (Calif.), Wiley Nickel (N.C.), Josh Gottheimer (N.J.) and Donald Davis (N.C.) are each co-sponsoring at least one of several proposed bills that would limit regulators’ ability to negotiate down prices of drugs covered by the Medicare government insurance program."
A new study finds that popular weight loss drug #Ozempic "could be profitably produced for less than $5 a month, even as maker Novo Nordisk A/S charges almost $1,000 in the US..."
The company's combined 2023 sales of Ozempic and related product Wegovy topped $18 billion.
Nationalize drug development? "Operation Warp Speed" worked, initially, but then the companies took advantage of the system.
"Pharma giant Novo Nordisk, a company suing to stop Medicare drug price negotiations, spent a record $2.18M in lobbying in the 1Q of this year."
-Accountable.US
"How the Shortage of a $15 Cancer Drug Is Upending Treatment
(...) The nation’s monthslong shortage of highly potent cancer drugs is grinding on, forcing patients and their doctors to face even grimmer realities than those cancer typically presents.
(...) One of the nation’s top cancer care groups, the American Society of Clinical Oncology, is now advising doctors with low quantities of the medications to administer them to patients with a shot at a cure — and to deny them to patients with recurrent or widely spread disease."
Corp. profits have exploded since 2020 -recent study found -for much of 2023, corp. profits drove 53% of inflation. Comparatively, over the 40 yrs before the pandemic, profits drove just 11% of price growth. In the 4Q of 2023, corp. profits reached an all-time high of $2.8T.
"..the Boston-based drug company Vertex is neither selling a transformative new treatment for cystic fibrosis in the developing world, nor allowing other local companies to produce it..."
We have seen this with #covid19 - #vaccines are STILL being hoarded by the West
A #solarpunk#story about cyber- #archeology , #hacking old databases of fallen #bigPharma giants. A race against time to find treatments to a new pandemic which might have been already discovered, but were put aside as not profitable enough. Doctors, hackers, bioengineers braving through old corporate-speak like an ancient language to understand: what happened to the cure?
Sounds a lot like how #BigPharma manipulated the medical community into hooking the world on opioids, resulting in an unsolved global mass crisis killing untold millions but in this case #BigOil is hooking builders & homeowners on planet heating #Methane. They need to be stopped.
@STAT's John Wilkerson was in the room for the first oral arguments in a drugmaker's suit alleging that Medicare's drug price negotiation violates its rights.
This comes as a surprise because
1.) I've had the Rx filed by Walmart off-and-on over the past 20 years or so.
2.) I had no issues with #CVS / no idea that this was "a thing"
Now closer to a WM pharm vs the prev CVS, it made sense to have this month sent here
(Adderall patients are forced through this rigmarole every 30 days).
So #Covid vaccines are dangerous because #mRNA is dangerous. #Amatoxin stops mRNA synthesis in the human body very effectively, it is absolutely natural, organic and available for free in wild mushrooms. #bigPharma is hiding this fact from us and even managed to give the most common of these mushrooms a bad name.
“#FreedomCap not #DeathCap” may be a good campaign slogan!