I just read about three former and current executives for Purdue Pharma, just plead guilty to misleading the public that their painkiller OxyContin has a high risk for addiction.
You know, I often give people the benefit of the doubt when it comes to how evil we can be. I have seen movies about drug makers and the horrendous lengths they will go to so they can make money, but I never think that it is as bad as Hollywood makes it out to be. I just can't see how it is possible to lose your humanity so you can pad your wallet.
Guess I was wrong.
On a positive note, the execs will have to pay out $634.5 million in fines.
Thursday, May 10, 2007
Because it's time for a new post ...
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Well, as I ranted about a few months ago, that seems to be the model for big business (and what differentiates it from both the church and the state - while all three abuse their power at times, at least church and state have an implied duty to the people).
Look at the tobacco companies, the oil companies, the car companies - they all refused to do what was in everyone's best interest because it would cost them money.
And if you're wondering why I mentioned car companies, it's because over ten years ago, several car companies rolled out completely electric cars (Saturn's EV1, Toyota Rav4 electric, Ford Ranger electric) in limited numbers. At least in the case of the EV1, they couldn't keep supply up with demand, and had long waiting lists in California. The thing is, they never sold these vehicles, only leased them. When the leases expired, they refused to renew them, or sell any cars. So they rounded them all up, destroyed them , and then released the Hummer.
Why? Because electric vehicles are incredibly simple and require less maintenance, and thus less replacement parts. When you understand how much car companies and dealerships make on replacement parts - even things as simple as oil filters - you begin to understand. That, and I wouldn't be shocked if somewhere in there were kickbacks from the oil industry.
My next car will be a hybrid, unless by some miracle I can afford a Tesla.
And actually getting back to the topic, drug companies have always cashed in on the ever-lucrative disease market (notice that these abuses come only in markets which we literally can't live without?) The problem isn't simply pharm company greed. They are correct when they assert that it costs truckloads of money to develop knew drugs. Many countries have laws limiting the amount drug companies can charge for their products, so the slack gets taken up by consumers in countries with less government restrictions on the holiest of holies - the free market economy, i.e., the U.S.
There are plenty of people out there who have no trouble hurting other people to get what they want. Back in the 50's the U.S. government knowingly gave radioactive milk to retarded school children in order to study the effects on human physiology.
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