Two of the largest and most influential drug companies, GlaxoSmithKline (GSK) and Pfizer are to merge their healthcare operations, whose combined annual sales will reach nearly £10 billion. The deal still has to be approved by shareholders, but as they are more interested in profit than patient health, this is not likely to be a problem.
Earlier this year, GSK took full control of a previously joint operation with Novartis, paying them over £9 billion for its 36.5% stake in their Consumer Healthcare Business.
The merger deals are about selling drugs, as many drugs as possible, for as much profit as possible. Every industry engages in similar manoeuvres, but the merger between drug companies makes particular sense. They all profit from the sale of drugs and vaccines. They all profit from ongoing sickness and disease. But more importantly, they are all leaders in an industry that is regularly, some would say routinely, engaged in
Earlier this year, GSK took full control of a previously joint operation with Novartis, paying them over £9 billion for its 36.5% stake in their Consumer Healthcare Business.
The merger deals are about selling drugs, as many drugs as possible, for as much profit as possible. Every industry engages in similar manoeuvres, but the merger between drug companies makes particular sense. They all profit from the sale of drugs and vaccines. They all profit from ongoing sickness and disease. But more importantly, they are all leaders in an industry that is regularly, some would say routinely, engaged in
- dishonesty
- fraud
- corruption
So drug companies fit well together!
The evidence for such a devastating judgement on the ethics of the pharmaceutical industry is plentiful, although it has not been well publicised by our governments, or by our compliant media, both of whom have studiously failed/refused to publicise the evidence against this powerful and influential industry.
I have written about this before, in some detail, when outlining the ongoing failure of the Conventional Medicine, so here I will do no more than outline some of the details of this activity over the last decade or so, appertaining just to these two companies.
- 2009. Pfizer, was fined $2.3 billion when it pleaded guilty to misbranding the painkiller, Bextra, with the intent to mislead and defraud, and then promoting it to treat acute pain at dosages the drug regulator, FDA, had previously deemed dangerous. Bextra had been banned in 2005 for safety reasons. It was also found that Pfizer had illegally promoted three other drugs, the antipsychotic Geodon, an antibiotic Zyvox, and an anti-epileptic drug, Lyrica.
- 2012 GSK was fined 400,00 pesos when 14 babies died in an illegal vaccine trial. It was found that doctors had taken advantage of illiterate parents who took their children for treatment, but were pressured and forced to sign a 28-page consent form.
- 2012 GSK agreed to pay $3 billion in civil and criminal liabilities following its promotion of several drugs, failure to report negative safety data, and making unsupported safety claims, particularly for its diabetes drug, Avandia. The company was aware that the drug increased the risk of heart attacks, and congestive heart failure but they withheld this information for 7 years! The company also pleaded guilty to promoting the antidepressant drug, Paxil, for patients under 18 although it had never been approved for that age group. GSK were also found guilty of paying bribes to doctors, with one attorney prosecuting the case saying that the company used every imaginable form of high-priced entertainment and paid millions of dollars in bribes to doctors. One doctor is reported as receiving $275,000 to promote just one GSK drug.
- 2012. Pfizer were forced to pay $60 million after bribing European and Asian health officials to dispense their drugs and vaccines. The fraud involved doctors and public health officials in Bulgaria, China, Croatia, the Czech Republic, Italy, Kazakhstan, Russia and Serbia. When the company realised they might be caught they apparently attempted to hide the illicit transactions by burying them in accounting records as 'business expenses'.
- 2014. GSK were ordered to pay $105 million to 44 states for providing it sales representatives with financial incentives to make misleading claims and statements to doctors about its drugs Advair, Paxil and Wellbutrin. The company was sued for deceptive trade practices and violations of consumer law.
So this merger has little to do with patient health. It is to do with safeguarding the future profitability of the industry. This has become more necessary as more people realise that pharmaceutical drugs and vaccines are harmful to health, and so resistance to taking them is increasing. The competitors of GSK and Pfizer is no longer each other - it is falling drug sales, the banning and withdrawal of failed drugs, and the failure over many years now to come up with new 'blockbuster' drugs. So the industry is reforming itself to tackle these problems.
Another problem faced by drug companies is the growing realisation that curing illness and disease is actually bad business for the industry! It is better not to cure disease, to keep patients sick, so that they continue to be drug consumers!
Goldman Sachs have confirmed this in a recent report, admitting that biotech companies have no incentive to cure illnesses. Their analysis was published in a report entitled, “The Genome Revolution” which looked at whether curing patients was a sustainable business model. Their answer was a clear - "No" - it is not sustainable!
But selling drugs that don't work, better still if side effects cause even more illness, is sustainable. But drug companies are realising that to continue selling them they can continue convincing patients that their drugs and vaccines DO make sick people better when in fact they don't!
So combining their healthcare operations makes a great deal of sense.
