Flush all that money away, too, taxpayer.
Need insult to injury?
See: The Money Pipeline From Massachusetts to Israel
Are you you surprised?
"Biotech executive says he lied to judge; Faked grave illness to avoid lawsuit" by Jonathan Saltzman, Globe Staff | March 12, 2009
A former executive of a Cambridge biotech company admitted yesterday that he lied to a federal judge and to his own lawyers about being gravely ill with colon cancer to derail a government lawsuit against him over an experimental synthetic blood product.
Howard P. Richman, the former senior vice president of regulatory affairs at
Of course, the noble biotechs are looking out for your health, not their own wallets! I'm so sick of these murdering poisoners!
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And it looks like they MAY GO AWAY anyway!!
"State bans drug firm gifts to doctors; Disclosure of fees for consulting mandated" by Liz Kowalczyk, Globe Staff | March 12, 2009
.... Many companies said the proposal went too far and would discourage firms from doing business in Massachusetts. Convention and hotel executives said the rules would scare away companies from sponsoring continuing medical education courses for physicians, which bring millions of dollars into Boston....Good, GET OUT and GIVE US BACK OUR TAXPAYER'S MONEY on the way out!
"Massachusetts is now seen as the most unfriendly state in the nation toward industry," said Robert Coughlin, president of the Massachusetts Biotechnology Council. "In these tough economic times, you don't want to send a chilling message to an industry that's a growth industry."
Yeah, a GROWTH INDUSTRY that somehow NEVER MAKES a PROFIT!!
You KNOW who is PICKING UP the TAB, right, taxpayers?
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And it looks like things just got worse for poor, looting biotech!
"Bill backs copies of biotech drugs
NEW YORK - A bipartisan group in Congress wants to give the Food and Drug Administration power to approve copies of costly biotech drugs.
They got a rubber stamp for 'em?
Representative Henry Waxman, a California Democrat and chairman of the Energy and Commerce Committee, and Georgia Republican Nathan Deal introduced legislation to create a pathway for the approval of copies of biotechnology-based medical treatments. Biotech drugs are made in living cells, unlike their chemical-based counterparts.
There is no regulatory process for approving such copies in the United States. That leaves the drugs' makers insulated from the generic competition the traditional drug industry faces.
President Obama called recently for the creation of a regulatory pathway as part of a plan to reduce overall healthcare costs.
Well-known biotech drugs include Enbrel for rheumatoid arthritis and psoriasis, made by Amgen Inc., and Avastin, a cancer treatment made by Genentech Inc.
"I believe this bill will lead to healthy competition and long-term savings for patients and payers and will preserve innovation to the biotech marketplace," Waxman said in a statement.
They lways say that and it never happens!
It's the SECOND SERVICE that is really important: ADVANCING the MARKET!
The debate over an approval process for biotech copies has dragged on for years, with both the biotechnology and generic drug industries at loggerheads over how much competition-free marketing the original drugs should get. The biotechnology industry has called for up to 14 years of exclusivity for their drugs before a copy could be introduced.
But the bill instead mirrors the current system for chemical compounds, which allows for five years of market exclusivity for new drugs and up to three years additional exclusivity for modifications.--more--"
Of course, THEY ARE IN IT for our HEALTH, right? Right? RIGHT?
"Drug maker must face pricing suit" by Bloomberg News | March 12, 2009
WASHINGTON - Mylan Inc., the biggest US maker of generic drugs, must face a lawsuit brought by Massachusetts over prices the company charged the state's Medicaid health program for medicines, a judge said.
Translation: they RIPPED US OFF!!!
US District Judge Patti Saris in Boston ruled yesterday the suit, which claims Mylan fraudulently inflated prices, isn't barred by the company's 2002 antitrust settlement with Massachusetts and other states. Mylan and three other drug makers agreed to pay $100 million to settle a suit by the Federal Trade Commission and 33 states over allegations they conspired to deny competitors key ingredients for certain drugs....
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And I notice this item buried at the bottom of page B8!
Damn pricey shit DON'T EVEN WORK!!!
"Rituxan fails in lupus test" by Associated Press | March 12, 2009
NEW YORK - Genentech Inc. and Biogen Idec Inc. said their drug Rituxan failed to significantly reduce kidney inflammation caused by lupus, the main goal of their late-stage trial.
Rituxan is approved for use in rheumatoid arthritis and non-Hodgkin lymphoma, and the companies hoped to get it approved as a treatment for lupus nephritis. The companies said they will still look for new ways to treat lupus. Lupus, an autoimmune disorder, is often accompanied by kidney inflammation.
In the trial, 144 patients were given either Rituxan or a placebo. All patients received standard treatment with an immunosuppressant, mycophenolate mofetil, and corticosteroids. Treatments were given at the beginning of the trial and repeated six months later. Rituxan did not prove significantly more effective at improving kidney function or reducing urinary sediment or high levels of protein in urine, which can indicate kidney damage. The companies said side effects were similar in the Rituxan patients and the placebo patients.
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Sort of like BIG PHARMA PISSING ALL OVER YOU, isn't it?
