This blog posting represents the views of the author, David Fosberry. Those opinions may change over time. They do not constitute an expert legal or financial opinion.

If you have comments on this blog posting, please email me .

The Opinion Blog is organised by threads, so each post is identified by a thread number ("Major" index) and a post number ("Minor" index). If you want to view the index of blogs, click here to download it as an Excel spreadsheet.

Click here to see the whole Opinion Blog.

To view, save, share or refer to a particular blog post, use the link in that post (below/right, where it says "Show only this post").

House Representative Katie Porter Calls BS on Big Pharma's Lies.

Posted on 23rd May 2021

Show only this post
Show all posts in this thread (Medicine and Health).

I strongly recommend that you spend the two minutes needed to watch this video on Twitter (remember to click to enable sound), in which congresswoman Katie Porter questions the CEO of a big pharma company (Abbvie) about their bullshit.

Pharmaceutical companies regularly claim poverty because of the "huge costs" of research and development of new drugs ($2.45 billion for Abbvie from 2013 to 2018) , but in fact this pales into insignificance compared to the biggest outgoing, stock buy-backs and shareholder dividends ($50 billion for Abbvie from 2013 to 2018).

As Katie Porter points out, the "justification" for the astronomical prices for medicines in the USA is a fairy tale. It is time for consumers and government to stop buying big pharma's bullshit.