This as your schools and other services are being slashed.
"Another drug giant bringing jobs to Mass." by Todd Wallack, Globe Staff | July 8, 2010
One of the world’s largest drug makers, Sanofi-Aventis SA, is planning a $65 million expansion in Cambridge that will create about 300 jobs, making it the latest foreign pharmaceutical giant to invest in Massachusetts....
Yaaaaay!!
Also see: Biotech Investors Bet On Your Life
A $7 Billion Dollar Shot in the Arm
Now how much tax loot are they getting in return?
Sanofi-Aventis is the latest foreign drug maker expanding its operations in Massachusetts. Industry executives say the companies are drawn to the intense concentration of medical and life sciences activities in the area, including top-flight research universities, respected hospitals, and a cluster of biotechnology companies.
And the TAX TAKE!
The company’s investment is particularly important because it comes at a time when many other businesses are reluctant to expand because of the weak economy. And pharmaceutical research, manufacturing, and management jobs tend to pay well and pump new money into the economy, benefiting ancillary businesses such as suppliers, law firms, and nearby hotels and restaurants. Sanofi-Aventis predicted the new jobs would pay an average of more than $100,000 per year.
What is good for Big Pharma is good for AmeriKa?
Governor Deval Patrick has also been counting on growth in the industry to help lift the state’s economy. Two years ago, Patrick launched a $1 billion, 10-year initiative that includes tax incentives for life sciences companies to expand, research grants for scientists, and money to build university labs and other public infrastructure to support the industry.
That's a big reason we want him gone.
See: Biotech Giveaway Was Borrowed Money
Yeah, the interest payments only cost you about $800 MILLION dollars, taxpayers -- for companies that rarely, if ever, make profit.
But that is our future economy?
No wonder this state has been financially destroyed!
Just last week, 56 life sciences companies, including Sanofi-Aventis, applied for $25 million in tax credits available this year, according to Angus McQuilken, a spokesman for the Massachusetts Life Sciences Center, a quasi-public agency established by the state Legislature in 2006 and charged with implementing the initiative. The tax credits will be awarded in December. Last year, 26 firms received $24.5 million.
Industry officials said the Sanofi-Aventis move reaffirms Massachusetts’ standing as one of the country’s leading hubs for drug industry research....
And I'll give you ONE BILLION REASONS WHY, taxpayers!
More than a half dozen other major European and Asian pharmaceutical companies have major operations in the Boston area, including Swiss drug maker Novartis AG, Merck KGaA of Germany, Japanese drug makers Takeda Pharmaceutical Co. and Dainippon Sumitomo Pharma Co., and British pharma giants GlaxoSmithKline PLC, AstraZeneca PLC, and Shire PLC.
Keep Merck in mind.
Also see: Glaxo's Ghostwriters
Senate Plays Santa For Health Insurance Companies
MSM Xmas Gifts: To Special Interests
Why do they need tax dollars, and why is the agenda-pushing Globe assisting?
And despite the downturn, several life science firms are adding employees in Massachusetts, either through internal expansion or by acquisitions of other companies.
Makes you wonder why we have lost so many jobs, doesn't it?
Two years ago, Shire launched a $394 million expansion in Lexington, including building a new manufacturing plant and headquarters for its Human Genetic Therapies unit, which develops drugs to treat rare medical disorders, such as Fabry disease.
Related: It Must be in the Genes
Everywhere you look there is a liar in AmeriKa's institutions.
The company, which received $48 million in incentives to expand in Massachusetts instead of in another state vying for the project, has 1,300 employees and expects to add as many as 300 more by 2015. Shire recently inked a $165 million deal to buy several of the buildings it was leasing in Lexington.
Yeah, you didn't need that $48 million for anything, Bay State taxpayers.
Is it WORTH the FIVE YEARS OUT PROMISE?
Related: Massachusetts' Lost Decade of Jobs
Suckers!!!
Merck is completing a $65 million research-and-development center in Billerica for its EMD Serono unit and recently agreed to buy Millipore Corp., a Billerica company that provides equipment and services to the life sciences industry, for $6 billion.
Guess who also made out on that deal with them throwing billions around.
Related: Goldman Sachs Leaves Germany's Merck Millipoor
I'll deal with Merck below.
Dainippon Sumitomo Pharma Co. acquired Sepracor Inc,. the Marlborough company behind the Lunesta sleep medicine, for $2.6 billion in April....
Related: Daily Dose of Job Cuts
Yeah, right, they are adding jobs, Globe.
Corporate consolidation always does, pffft!
To help support the expansion, Sanofi-Aventis also applied this month for $2.45 million in state tax credits from the Life Sciences Center and plans to request another $6.5 million in aid over the next four years, according to the center.
When they make BILLIONS in PROFITS?
Like other major pharmaceutical companies, Sanofi-Aventis is making a big bet on cancer drugs.
It almo$t make$ you believe they are not trying to cure the $tuff, doe$n't it?
Reduced $ales = Reduced profit$, cui bono?
Last month it announced plans to buy San Diego biotechnology firm TargeGen Inc., which is developing a treatment for certain types of leukemia, lymphoma, and other blood disorders, for $75 million, plus up to $485 million in additional incentives. Last year it agreed to pay up to $500 million for BiPar Sciences, which is developing a new class of “tumor-selective drugs’’ to treat multiple types of cancer. BiPar is based outside San Francisco.
Sanofi-Aventis, which also has major operations in Pennsylvania, New Jersey, and elsewhere in the United States, already has two blockbuster cancer drugs. Taxotere, a chemotherapy drug used to treat breast cancer, prostate cancer, and other types of cancers, generated $2.8 billion in sales last year. Eloxatin, used to treat colorectal cancer, reaped more than $1.2 billion for Sanofi-Aventis last year.
No wonder the FDA doesn't care a crap about us.
Last month, the US Food and Drug Administration approved Sanofi-Aventis’s Jevtana to be used in combination with another drug to treat metastatic hormone-refractory prostate cancer, and the company has an array of additional cancer drugs in its pipeline.
Yup, cancer i$n't going away anytime $oon.
It has also been working with Massachusetts biotechnology firms to develop new drugs, including deals related to cancer research with Dyax Corp. in Cambridge, ImmunoGen Inc. in Waltham, and Merrimack Pharmaceuticals Inc. in Cambridge....
--more--"Okay, remember what I said about Merck:
"Merck will close lab in Kendall Sq.; Drug maker cutting 16,000 jobs globally" by Robert Weisman, Globe Staff | July 9, 2010
Yeah, the Globe TRUMPETS the PROMISE of HUNDREDS of jobs on the front page while the bloodsucking drug companies cuts of THOUSANDS gets relegated to the business section.
Pharmaceutical giant Merck & Co., running counter to other drug makers’ moves to expand operations in the Boston area, yesterday said it will shut a five-year-old Cambridge research lab as part of a global cutback that will reduce the company’s worldwide payroll by 16,000 jobs, about 15 percent.
Merck would not specify how many jobs will be eliminated at its Kendall Square operation, which was developing cancer drugs. The lab had about 100 employees early last year, when it was run by its former owner, drug maker Schering-Plough Corp.
I told you consolidation does not add jobs.
Also see: Scientific Swindles
Oh, and they lied, too?
The Cambridge site is the only US research center scheduled to be closed as part of Merck’s global consolidation, which also will include the shuttering of seven research-and-development sites across Europe and in Canada over the next two years.
Merck’s decision comes as other global pharmaceutical companies, most recently Sanofi-Aventis AG of France and Eli Lilly & Co. of Indianapolis, are boosting their presence in the Boston area to capitalize on its academic labs and biotech start-ups....
Related: Welcome to the Wonderful World of Biologics
Merck’s consolidation, which began in the fourth quarter of last year, follows its $41.1 billion acquisition of fellow New Jersey drug maker Schering-Plough, which opened the Cambridge lab at the beginning of 2006 and doubled it in size about six months later. Merck’s goal is to save $3.5 billion annually by 2012.
Put it all in the profits column!
Toward that end, the company already has eliminated about 11,000 jobs. Yesterday’s announcement covered additional research and manufacturing jobs....
You know, the GOOD JOBS!
Anybody else in-state to save us?
"Pfizer drug failures worrying investors" by Linda A. Johnson, Associated Press | June 25, 2010
TRENTON, N.J. — Yet another experimental drug heavily touted by Pfizer Inc. has foundered in advanced testing, raising worries about productivity problems at the world’s biggest drug maker.
Safety problems with potential osteoarthritis treatment tanezumab, quietly disclosed Wednesday evening, triggered a drop in Pfizer shares and a burst of notes to investors yesterday from analysts concerned about the trend....
Related: Pfizer Phuck
That all adds up to significant potential pain for Pfizer shareholders....
You SEE WHOSE CONCERNS always COME FIRST, right, American patients?
Does groaning help?
Pfizer desperately needs some research successes....
Then why don't they just write a report and have a doctor sign off on it?
--more--"
Related: State Legislators Addicted to Drug Company Loot
Those Are the (Tax) Breaks in Massachusetts
Yeah, I'm sure those things would have nothing to do with it.
Also see: Mass. State Budget: Screwing Cities and Towns
Memory Hole: Massachusetts' State Budget
Just reminding you where the tax money comes from and where it is going-- or not going, as the case may be.
Related: Wall Street Where the Work Is
I was wondering where it all went.
