Don't you feel better now, taxpayer?
And to add insult to injury: Biotech Giveaway Was Borrowed Money
"Merck deal reflects push to efficiency" by Todd Wallack, Globe Staff | March 10, 2009
....
John Sullivan, research director for Boston investment banking firm Leerink, Swann & Co., predicted pharmaceutical companies will continue to buy promising biotechnology companies in Massachusetts, as they have done for years, to help fill their product pipelines with new drugs. In addition, he said, major drug companies will continue to build their own biotech research operations, increasingly blurring the lines between biotech and traditional pharmaceutical companies.
"The pharma and biotech industries are going to become one big sector called therapeutics," Sullivan said. --more--"
And they gonna MAKE $$$$!!!
GTC Biotherapeutics Inc. of Framingham said it has received a $1 million milestone payment from Ovation Pharmaceuticals Inc. The payment involves ATryn, an anticlotting drug. In February, GTC became the first biotech to win federal approval to make a drug by using genetically modified animals....
See: Dr. Moreau Operates in Massachusetts
A total of $3 million of additional payments from Ovation are pending as a result of the Food and Drug Administration's recent approval of ATryn, GTC said. --more--"
Good thing the FDA is looking out for you, huh?
FDA Protects Big Pharma While Telling Americans "F*** You!"
FDA Doesn't Care About Cancer
FDA Approval to Immunize Drug Companies From Lawsuits
Surface Logix Inc., a Boston company that seeks to use biophysical chemistry to develop drugs to treat metabolic and cardiovascular diseases, said it has raised more than $20 million.
Yup, the economy is shit, you can't get a job or loan, but the biotech can still find millions. You starting to see the charade, America?
The company said it raised about $15 million through equity contributions by existing investors, including ARCH Venture Partners, HBM BioVentures, Healthcare Focus, Intel Capital, Saudi Venture Development Co., Unilever Technology Ventures, and Venrock Associates....
Front names for front companies of globalist loot and laundering. That's what these biotechs and vencaps are: money sinks for the rich and criminal. Banks already love drug money.
On top of the equity round, $5 million was raised through a venture loan from Silicon Valley Bank, Surface Logix said. --more--"
Meanwhile, we can't have single-payer health care and you can't get a loan.
How long you gonna get played, America?
