Monday, 9 December 2013

Global Pharmaceutical Giants have made Criminal Activity and the Fines a part of their Drug Costs




It should be quite clear now that big pharma is 'only' interested in vast profits and basically has no empathy with humanity other than it being an immense cash-cow for them. Their actions and out-of-court settlements speak volumes and where history cannot lie.

For the major drug companies throughout the world are continually being found out for criminal and fraudulent activity in order to sell their pharmaceuticals. Not me saying this but the world’s media coverage and the out-of-court agreements that they have settled and where in the past 5 years alone fines in excess of $17 billion have been agreed between authorities and the big drug companies. These include but where they are not a fully exhaustive list of examples,

$2.2 billion and $2.5 billion (S4.7 billion in total in a mere year) by J&J (2013),

£3 billion by GSK (2012),

$762 million by Amgen (2012),

$1.5 billion by Abbott (2012),

$95 million by Boehringer Ingelheim (2012),

$109 million by Sanofi-Aventis (2012),

$950 million by Merck (2011),

$520 million by AstraZeneca (2010),

$750 million by GSK (2010),

$423 million by Novartis (2010),

$460 million by Allergan (2010),

$2.3 billion by Pfizer (2009),

$1.42 billion by Eli Lilly (2009)

and $425 million by Cephalon (2008) - Source for all from the US ‘Department of Justice’ and world media sources. Note also that all of these actions had criminal activity as part of their respective  settlements. But because these huge global concerns make so much money out of selling drugs, these fines have apparently now become an in-built expense in the corporate cost of their drugs. Indeed in GSK’s 2012 case in the USA, nearly $30 billion was sold and where it was estimated that even after the $3 billion fine was deducted, a profit of $11 billion was made.
 
Therefore it certainly appears that the accepted corporate environment that these giant corporations have structured internally for themselves has created these illegal activities and where it is of their own making and not predominantly the countries that they operate within - but I have to say though, that it does help if there is government and internal corruption to boot. But possibly the biggest sadness to date has to come out yet in India where over 20,000 of the poorest children in the world (between the ages of 10 and 14) have been used as human guinea pigs for Big Pharma – http://www.bbc.co.uk/news/magazine-20136654 . Indeed over the past seven years, nearly 2,000 trials have taken place in the country and the number of deaths increased from 288 in 2008 to 637 in 2009 to 668 in 2010, before falling to 438 deaths in 2011, the latest figures available. Therefore the drive for corporate profits has a very dark side to it and everyone should be fully aware of this fact. Apparently this is not a problem for big pharma and where vast profits and greed rise above human life itself. Governments just have to get to grips with these huge corporations and fine then not just a small percentage of their profits but all the estimated total profit.  That is the only way that they will ever alter their corporate mind-set and strategic blue-print.
 
But where it has to be said as a footnote, that Big Pharma has governments in their grip behind closed doors even though they have their roots predominately in the Nazi era, the holocaust, chemical and biological warfare -  http://foolscrow.wordpress.com/2010/07/27/return-to-nuremberg-big-pharma-must-answer-for-crimes-against-humanity/ and where their activities have not really changed one iota.

Indeed, the vast pharmaceutical industry with a global annual turnover of over $1 trillion is not in the business of 'cures' but only treatments such as Tamiflu et al. In this respect it is not in their interest to invent cures (only treatments) for then they would kill off the fatted cow and thereafter their would be no need for their drugs, hitting the bottom-line with billions of billions of lost sales year on year. Therefore people are living in a world of deceit, as cures are not really on the agenda for the pharma mafia. Medical science may be (that is totally different to pharmacology), but definitely not the global pharmaceutical industry.


Dr David Hill
Chief Executive
World Innovation Foundation

2 comments:

  1. Find appropriate article that is totally related pharmaceutical formulations I just circled this post to my friends.Thanks for sharing this one.

    ReplyDelete
    Replies
    1. Thank you.

      Even the industry internally knows that it cannot carry on in the way that it is and has to change to a more transparent, open and moral business model. Hopefully the next leaders of the industry will have the qualities, integrity and human feelings to see this great needed change. If not, the industry will fall into total disrepute with the world's people and eventual boycotting will be the fall out. If that happens even mighty corporations will cease to exist over time.

      Dr David Hill
      CEO
      World Innovation Foundation

      Delete