Friday, October 22, 2004

Flu virus not to affect big pharma!

In 2002, the combined profits for the ten drug companies in the Fortune 500 ($35.9 billion) were more than the profits for all the other 490 businesses put together ($33.7 billion).

So why all this Flu vaccine shortage? Well it is your classic 'profit over people' principle in action. Apparently, almost $36 billion dollars of profit is not enough for the Pharma.

According to drug companies vaccines have never been very attractive investments. They say that global market for vaccines is about $6 billion a year, compared to $340 billion for drugs. Thirty years ago, more than a dozen companies made flu shots. Five years ago, the number was down to four. In 2004 the number is down to ONE.

These companies and their stock holders should be ashamed of themselves. While senior citizens are bracing cold, rain and waiting in miles long lines to get a fuckin flu shot, the CEOs of Pfizer, Johnson & Johnson and Bristol Myers are cashing 9.71 million, 4.4 million, 5.92 million dollars checks respectively -in salary alone
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