That's what you do when you don't want to take their drugs.
And look who is cramming them down your throat:
Genzyme Corp., the Cambridge biotechnology company fighting a takeover attempt by a French drug giant, said it will eliminate 1,000 jobs, about 10 percent of the workforce, over the next 15 months to save money....
Related: Executive Payday: Genzyme Gut Check
That's one hell of a check.
Also see: Those Are the (Tax) Breaks in Massachusetts
And they aren't going to return it after lying to you.
Genzyme is the state’s largest biotechnology firm, with a stock market value of more than $18 billion. It has carved out a lucrative niche in the drug industry by sell ing expensive treatments for rare genetic disorders....
See: The Needs of Genzyme Outweigh the Needs of All
Drug companies around the world have been shedding jobs to protect their profit margins in the face of intensifying competition, more uncertainty from regulatory agencies, and growing pressure to control health care costs, said Kevin J. Gorman, managing partner at Putnam Associates, a Burlington consulting firm specializing in life sciences.
“In some cases, they’re paring back their administrative costs to keep their bottom line healthy,’’ Gorman said. “You’re also seeing the payers — the private insurers and Medicare and Medicaid — tightening the screws in terms of how much they’ll reimburse for certain drugs. All that’s forcing the companies to cut any place that won’t impact their ability to generate revenue.’’
And that's whose health is most important!
--more--"
Thanks for helping out with the "recovery."
Related: Genzyme fends off fight with Icahn
Also see: Genzyme profit falls sharply
Genzyme bouncing back after shortage
Genentech example raises flags for Genzyme
Suitor won’t raise bid for Genzyme
Genzyme’s suitor sees potential top sellers
Genzyme sheds division to focus on biotech core
Sanofi lobbies Genzyme investors
Genzyme’s Synvisc approved in Japan
Genzyme aims to sell 2 units this year
Genzyme chief may not be ready to move on
Sanofi may raise bid for Genzyme
French firm targets Genzyme for hostile takeover
Genzyme rebuffs Sanofi yet again
Sanofi, Genzyme disagree on what transpired at meeting
Sorry, readers; I never got those PoS pills down.
