Bastards

Today’s headline:

Drug Makers Raise Prices in Face of Health Care Reform –

November 2009

see: http://www.nytimes.com/2009/11/16/business/16drugprices.html?th&emc=th

And remember this, from Jan. 2009?:

Pfizer to buy Wyeth for $68B; cut 8,000 jobs

Associated Press / January 27, 2009 Published January 26, 2009

LINDA A. JOHNSON

“Pfizer Inc., the world’s largest drugmaker, said Monday it is buying rival Wyeth for $68 billion in a deal that will quickly boost Pfizer’s revenue and diversification –…”

“The deal is being financed by five banks: Bank of America Merrill Lynch, Barclays, Citigroup, Goldman Sachs and J.P. Morgan Chase.”

“By buying Wyeth, Pfizer will mutate from a maker of blockbuster pills to a one-stop shop for vaccines, biotech drugs, traditional pills and nonprescription products for both people and animals.”

for more gory details, see:

http://www.cbsnews.com/stories/2009/01/26/business/main4752726.shtml

or my own post:

https://victorials.wordpress.com/2008/12/30/beginnings/

and don’t miss this, just 2 months ago (9 months after that acquisition):

Pfizer to Pay $2.3 Billion for Fraudulent Marketing

Justice Department Announces Largest Health Care Fraud Settlement in Its History

“…Pfizer has agreed to pay $1 billion [table scraps] to resolve allegations under the civil False Claims Act that the company illegally promoted four drugsBextra; Geodon, an anti-psychotic drug; Zyvox, an antibiotic; and Lyrica, an anti-epileptic drug—and caused false claims to be submitted to government health care programs for uses that were not medically accepted indications and therefore not covered by those programs. The civil settlement also resolves allegations that Pfizer paid kickbacks to health care providers to induce them to prescribe these, as well as other, drugs. The federal share of the civil settlement is $668,514,830 and the state Medicaid share of the civil settlement is $331,485,170. This is the largest civil fraud settlement in history against a pharmaceutical company.”

– quoted from U.S. Department of Justice
September 2, 2009:

http://www.fbi.gov/pressrel/pressrel09/justice_090209.htm

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