Wednesday, March 21, 2012

PharmaGossip: Martha Rosenberg: The Big Pharma Bubble

You've got to read this.  Very provocative and deeply disturbing. Be sure to read the entire article.

PharmaGossip: Martha Rosenberg: The Big Pharma Bubble | Scoop News:

"It is no consolation to the roughly one out of 600 families who lost their homes in the U.S. but Wall Street made a lot of money slicing and dicing mortgages it knew would implode, while hiding risks. Financial giants, like AIG, are still buzzing along and neither penalties or new laws will prevent a future crash, say financial analysts, because the risky business models have not really changed. In fact, occlusive business models responsible for the previous Internet bubble in 2000 and for which CEOs are still in prison may soon be legal again under the U.S.' pending JOBS Act. Thanks for that.

A similar Big Pharma bubble, leavened with risky blockbuster drugs that also blew up, is now bursting. Almost 20,000 jobs have vanished at AstraZeneca, Novartis and Pfizer in the last 12 months alone. AstraZeneca has scrapped 21,600 more jobs since 2007."

'via Blog this'

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