Tag Archives: Big Pharma

‘Absolute Robbery’: Gilead Announces $3,120 Price Tag for Covid-19 Drug Developed With $70 Million in Taxpayer Support

“Taxpayers provided funding for the development of this drug. Now Gilead is price-gouging off it during a pandemic. Beyond disgusting,” said Sen.Bernie Sanders.

By Jake Johnson, staff writer for Common Dreams. Published 6-29-2020

Photo: Ivan Radic/flickr/CC

Consumer advocates reacted with disgust Monday to an announcement by Gilead Sciences that it will charge U.S. hospitals around $3,120 per privately insured patient for a treatment course of remdesivir, a drug which has proven modestly effective at speeding Covid-19 recovery times.

Peter Maybarduk, director of Public Citizen’s Access to Medicines Program, called Gilead’s pricing—which works out to around $520 per dose for non-government buyers like hospitals—”an offensive display of hubris and disregard for the public” and slammed the Trump administration for failing to ensure that the price of a drug developed with substantial taxpayer support is affordable for all. Continue reading

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‘Ticking Time Bomb’: Corporate Lawyers Openly Discussing Suing Nations Over Profits Lost to Covid-19 Measures

“It’s so unbelievably shocking to see corporate lawyers actively discussing having foreign investors use ISDS to challenge countries over their coronavirus lockdown measures, and try to extract ‘expected future profits’ from them.”

By Jake Johnson, staff writer for Common Dreams. Published 5-20-2020

Lidia Senra speaking against ISDS in the European Parliament in February 2019. Photo: Lidia Senra/Twitter

Prominent corporate law firms representing major businesses in the United States, Italy, Spain, and other nations are openly discussing the possibility of companies using a secretive and notorious legal process to sue countries over future profits lost due to government efforts to combat the coronavirus pandemic.

On Monday, the non-profit research group Corporate Europe Observatory (CEO) documented numerous examples of high-powered corporate law firms—including Ropes & Gray, Alston & Bird, and Quinn Emanuel Urquhart & Sullivan—publicly licking their chops over the lucrative opportunity presented by the Covid-19 crisis and government attempts to fight it. Continue reading

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‘The Next Crisis’: Up to 43 Million Americans Could Lose Health Insurance Due to Pandemic, Study Shows

“The American healthcare financing system was not built to withstand the combined impact of a pandemic and a recession.”

By Julia Conley, staff writer for Common Dreams. Published 5-10-2020

Analysts project that 43 million Americans could lose their insurance when the unemployment rate hits 20%. According to the Department of Labor, the current unemployment rate is 14.7%. (Photo: Elvert Barnes/Flickr/cc)

Medicare for All advocates on Sunday pointed to the latest study on the looming health insurance crisis already becoming apparent amid the coronavirus pandemic, which has led to job losses for more than 33 million people in the past two months.

Because health insurance is tied to employment for about half the country—160 million people—as many as 43 million are expected to lose their health insurance due to the pandemic, according to a new report by the Robert Wood Johnson Foundation (RWJF) and the Urban Institute. Continue reading

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‘This President Has Blood on His Hands’: Trump Again Urges Public to Take Anti-Malaria Drug for Coronavirus, Despite Reports of Danger

“‘What do you have to lose?'” Rep. Ilhan Omar (D-Minn.) asked. “They can lose their life, you imbecile.”

By Julia Conley, staff writer for Common Dreams. Published 4-5-2020

Dr. Anthony Fauci on Sunday told Margaret Brennan on “Face the Nation” that scientific evidence does not support President Donald Trump’s repeated claim that hydroxychloroquine can prevent the coronavirus. (Photo: Alliance for Health Policy/Flickr/cc)

The nation’s top expert on infectious diseases was forced once again on Sunday to negate President Donald Trump’s latest claim that an anti-malaria drug can treat coronavirus, which the president made at his Saturday evening press conference.

On CBS’s “Face the Nation,” National Institute of Allergy and Infectious Diseases (NIAID) director Dr. Anthony Fauci told host Margaret Brennan that “in terms of science, I don’t think we could definitively say it works,” regarding the use of hydroxychloroquine for the virus. Continue reading

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A small trial finds that hydroxychloroquine is not effective for treating coronavirus

A trial of an anti-malaria drug in France found different results from a similar study last month. Liliboas / Getty Images

Katherine Seley-Radtke, University of Maryland, Baltimore County

On Saturday the Food and Drug Administration approved the use of two antimalarial drugs, hydroxychloroquine and a related medication, chloroquine, for emergency use to treat COVID-19. The drugs were touted by President Trump as a “game changer” for COVID-19.

However, a study just published in a French medical journal provides new evidence that hydroxychloroquine does not appear to help the immune system clear the coronavirus from the body. The study comes on the heels of two others – one in France and one in China – that reported some benefits in the combination of hydroxychloroquine and azithromycin for COVID-19 patients who didn’t have severe symptoms of the virus. Continue reading

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‘This Is a Massive Scandal’: Trump FDA Grants Drug Company Exclusive Claim on Promising Coronavirus Drug

“It is insane and unacceptable,” said Bernie Sanders. “We will not tolerate profiteering. Any treatment or vaccine must be made free for all.”

By Julia Conley, staff writer for Common Dreams. Published 3-24-2020

Coronavirus. Photo: CDC

As healthcare providers across the U.S. desperately attempt to treat a rapidly growing number of patients with the coronavirus, a pharmaceutical company with ties to the Trump administration has been granted exclusive status for a drug it is developing to treat the illness—a potential windfall for the company that could put the medication out of reach for many Americans.

As The Intercept reported Monday, the Food and Drug Administration granted Gilead Sciences “orphan” drug status for remdesivir, one of several drugs being tested as potential treatments for the coronavirus, officially known as COVID-19. The designation is generally reserved for drugs that treat rare illnesses affecting fewer than 200,000 Americans—but companies can be eligible if the designation, as in this case of a rapidly spreading virus, is made before a disease spreads beyond that limit. Continue reading

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How undoing ‘Obamacare’ would harm more than the health of Americans

Open enrollment for health care in the ACA marketplaces ended at 3 a.m., Dec. 18, 2019, the same day a panel ruled that the individual mandate is unconstitutional. Centers for Medicare and Medicaid Services/AP Photo

Simon F. Haeder, Pennsylvania State University

The Affordable Care Act remains on life support after a panel of federal judges ruled on Dec. 18, 2019 that the law’s individual mandate requiring people to buy health insurance is unconstitutional.

The decision hobbles the law in ways that are hard to predict politically, particularly in the upcoming election year. It also raises questions for the 20 million people who gained coverage in the marketplaces and all Americans who gained protections through the ACA. Continue reading

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Why Are Drug Prices Rising So Much? Pharma Exec Admits ‘No Other Rationale’ But Profit-Making

“The industry executive said the quiet part out loud,” said one outside expert in response. “Price-gouging is central to the industry business model.”

By Andrea Germanos, staff writer for Common Dreams. Published 11-28-2019

Photo: Liz McGregor

Corporations’ quest for profits is what “is driving up drug prices and nothing more.”

That’s according to Dennis Bourdette, M.D., chair of neurology in the Oregon Health and Science University (OHSU) School of Medicine, who co-authored a study published Monday that sought to find out companies’ rationale for the escalating prices on medications for patients with multiple sclerosis. Continue reading

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‘Their Secret Agenda Today Is Exposed’: Corbyn Says Leaked Trade Docs Show Tory Plan to Privatize NHS With Trump’s Help

The U.K. Labour leader said the move, if successful, “could lead to runaway privatization of our health service.”

By Jake Johnson, staff writer for Common Dreams. Published 11-27-2019

U.K. Labour Leader Jeremy Corbyn holds redacted copies of the Department for International Trade’s U.K.-U.S. Trade and Investment Working Group report following a speech about the National Health Service in Westminster, London. Photo: Devutopia/Twitter

U.K. Labour leader Jeremy Corbyn on Wednesday unveiled over 450 pages of leaked documents that he said expose British Prime Minister Boris Johnson’s effort to open up the National Health Service to corporate exploitation in trade negotiations with U.S. President Donald Trump.

During a press conference, Corbyn said the Trump administration’s negotiators are “demanding” that the NHS be put “on the table” in talks over a possible post-Brexit trade pact between the U.S. and U.K. Continue reading

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200+ Groups Denounce UN-WEF Agreement That Entrenches Corporate Interests Driving Global ‘Social and Environmental Crises’

“It moves the world dangerously towards a privatized and undemocratic global governance.”

By Andrea Germanos, staff writer for Common Dreams. Published 9-27-2019

Samir Saran, President, Observer Research Foundation (ORF), India, Alice Bunn, Director, International, UK Space Agency, United Kingdom, Frederick Kempe, President and Chief Executive Officer, Atlantic Council, USA speaking during the Session “Future Frontiers of Technology Control ” in “Situation Room” at the Annual Meeting 2019 of the World Economic Forum in Davos, January 22, 2018. Photo: Greg Beadle – World Economic Forum/flickr/CC

Over 200 civil society groups this week voiced their firm opposition to a recently-inked agreement between the United Nations and World Economic Forum that stands to further entrench transnational corporations and their interests in global governance.

“It moves the world dangerously towards a privatized and undemocratic global governance,” said Gonzalo Berrón of Transnational Institute. Continue reading

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