Pharmaceutical Corruption News Articles

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The mayor of the West Virginia city that has come to symbolize Americas opioid epidemic has called for the jailing of pharmaceutical company executives he likens to street corner drug dealers. Steve Williams, mayor of ... a city ravaged by prescription pill and heroin addiction, said he wants to see executives face criminal prosecution, after it was revealed that a member of the family that made billions of dollars from the painkiller that unleashed the epidemic stands to profit further after he was granted a patent for an anti-addiction medicine. They are drug dealers in Armani suits, said Williams. The decisions that have been made within the pharmaceutical industry have ravaged our nation. In June, Massachusetts became the first state to sue individual executives and owners of Purdue Pharma, the maker of the drug, OxyContin, which kicked off the biggest drug epidemic in American history, estimated to be killing more than 115 people a day. The lawsuit seeks to recover the billions of dollars in profit banked by members of the Sackler family, which owns Purdue. Massachusetts attorney general Maura Healey, accused the company and its officials of knowingly profiting from overdoses and death. Purdue Pharma and its executives built a multi-billion-dollar business based on deception and addiction. The more drugs they sold, the more money they made, she said in announcing the lawsuit.

Note: According to a former DEA agent, Congress helped drug companies fuel the opioid epidemic. For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.

Scandals brought down Harvey Weinstein's movie studio and major opioid supplier Mallinckrodt. But their wealthy owners, directors and executives were granted lifetime immunity from related lawsuits in bankruptcy court – an overwhelmingly common tactic in major U.S. Chapter 11 cases, a Reuters review found. Such immunity grants have become a pervasive but little-understood feature of the U.S. bankruptcy system. The releases are now granted by judges in 9 of 10 major Chapter 11 cases. The lawsuit shields, requested by the company or organization in bankruptcy, are called "nondebtor" releases because they are bestowed on people and entities that never have to declare Chapter 11 themselves. The recipients effectively get the benefits of bankruptcy protection without the associated financial or reputational damage. Reuters ... examined 29 U.S. bankruptcies that were preceded by mass tort litigation against companies or other entities, many of which included allegations involving dangerous products or sexual abuse. The review found that about 1.2 million claimants in these cases have signed away their rights to sue related parties or face pressure to approve such releases in ongoing bankruptcy-court negotiations. The 29 bankruptcies included those of 14 Catholic dioceses or religious orders and the Boy Scouts of America amid lawsuits alleging child molestation; [and] the collapse of opioid suppliers Purdue Pharma LP and Mallinckrodt plc over their alleged roles in a deadly addiction epidemic.

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A journalist writing for The BMJ has won a British Journalism Award for his series on the financial interests of medical experts advising US and UK governments during the covid-19 pandemic. As a result of the articles written by Paul Thacker, an investigative journalist, the financial disclosures of members of the Scientific Advisory Group for Emergencies (SAGE) were published for the first time. Thacker's first story looked at two groups critical to the UK government's pandemic response–SAGE and the Vaccine Taskforce. He examined both and found that they did not disclose their members' financial conflicts. Some members were tied to companies with a monetary interest in the government's purchases. Thacker ... filed freedom of information (FoI) requests with multiple government departments and Oxford University. In a second story he wrote about the government's repeated refusal to turn over these data. However, the FoI ... revealed that Thacker's original request was apparently sent to a special government department to handle any reporter considered a "campaigner" or to have "extreme views." Eventually, the government relented and published the financial conflicts for the members of SAGE. In the final story of the series Thacker looked at the panels that the US and UK governments used to authorize vaccines and revealed that ... disclosure policies were inadequate. Some experts evaluating the vaccines had significant industry ties that were not disclosed.

Note: Read the full text of Thacker's article titled, "Covid-19: How independent were the US and British vaccine advisory committees?" and another titled "How the case of the Oxford professor exposes a transparency crisis in government." For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus from reliable major media sources.

The chief scientist brought on to lead the Trump administration's vaccine efforts has spent the last several days trying to disentangle pieces of his stock portfolio and his intricate ties to big pharmaceutical interests. The scientist, Moncef Slaoui, is a venture capitalist and a former longtime executive at GlaxoSmithKline. Most recently, he sat on the board of Moderna, a Cambridge, Mass., biotechnology firm with a $30 billion valuation that is pursuing a coronavirus vaccine. He resigned when President Trump named him last Thursday to the new post as chief adviser for Operation Warp Speed, the federal drive for coronavirus vaccines and treatments. Just days into his job, the extent of Dr. Slaoui's financial interests in drug companies has begun to emerge: The value of his stock holdings in Moderna jumped nearly $2.4 million, to $12.4 million when the company released preliminary, partial data from an early phase of its candidate vaccine trial. Dr. Slaoui did not come on board as a government employee. Instead, he is on a contract ... that leaves him exempt from federal disclosure rules that would require him to list his outside positions, stock holdings and other potential conflicts. And the contract position is not subject to the same conflict-of-interest laws and regulations that executive branch employees must follow. Dr. Slaoui ... is not the first Trump administration official with close relationships to drug and health care companies. Alex M. Azar II, the health and human services secretary, is a former Eli Lilly executive.

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Before a vaccine to combat the coronavirus pandemic is within view, the Trump administration has already walked back its initial refusal to promise that any remedy would be affordable to the general public. “We can’t control that price because we need the private sector to invest,” Alex Azar, Health and Human Services secretary and a former drug industry executive, told Congress. After extraordinary blowback, the administration insisted that in the end, any treatment would indeed be affordable. The federal government, though, under the Clinton administration, traded away one of the key tools it could use to make good on the promise of affordability. Gilead Sciences, a drugmaker known for price gouging, has been working with Chinese health authorities to see if the experimental drug remdesivir can treat coronavirus symptoms. But remdesivir, which was previously tested to treat Ebola virus, was developed through research conducted at the University of Alabama ... with funding from the federal government. That’s how much of the pharmaceutical industry’s research and development is funded. The public puts in the money, and private companies keep whatever profits they can. It wasn’t always that way. Before 1995, drug companies were required to sell drugs funded with public money at a reasonable price. Under the Clinton administration, that changed. In April 1995, the Clinton administration capitulated to pharmaceutical industry pressure and rescinded the longstanding “reasonable pricing” rule.

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Throughout my career as a psychiatrist, I have found, on a clinical and scientific basis, psychiatric drugs do much more harm than good. My professional website (www.breggin.com) began as an attempt to present my scientific research. At the time that I started my reform efforts in the early 1970s, I was nearly alone among psychiatrists or any other professionals in standing up to the pharmaceutical industry, the electroshock industry, the American Psychiatric Association, the AMA, and other members of what I defined as the "psychopharmaceutical complex." When taken for months or years, all psychiatric drugs can seriously damage the brain, prevent recovery, and ruin the individual's quality of life. The psychiatric model of human suffering has caused untold damage to hundreds of millions of victims of involuntary treatment, psychiatric hospitals, drugs and electroshock. It has also set back civilization by undermining Western traditions of individuality, personal responsibility, and love. It has convinced modern society that emotional suffering is based in so-called biochemical imbalances when in reality it is rooted in a complex combination of human nature, individual experience and choice-making, and societal influences. This flawed biological model ignores all the important realities in human life from the dreadful effects of childhood trauma and adult disappointment and loss to the importance of living by worthwhile principles and ideals.

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Mark Cuban has opened up a new online pharmacy to help make generic drugs more affordable. The Mark Cuban Cost Plus Drug Company (MCCPDC) officially launched last week, claiming to offer the "lowest prices on 100 lifesaving prescriptions, according to a press release. The company is able to offer lower prices because it's a registered pharmaceutical wholesaler, meaning MCCPDC can "bypass middlemen and outrageous markups," per the press release. "The pharmacy's prices reflect actual manufacturer prices plus a flat 15% margin and pharmacist fee," the press release states. The company also "refuses to pay spread prices" to pharmacy benefits managers, which manage prescription drug benefits on behalf of health insurers. One of the medications available is Imatinib, a leukemia treatment that has a retail price of $9,657 a month and costs around $120 a month with a common voucher, per the press release. However, the MCCPDC offers a steep discount, making the drug available for $47 per month. Two other notable prescriptions available at a significantly reduced price are Mesalamine, used for ulcerative colitis treatment, as well as gout treatment drug Colchicine. "Not everyone sets the goal of being the lowest cost producer and provider," the billionaire [said]. "My goal is to make a profit while maximizing impact." "We will do whatever it takes to get affordable pharmaceuticals to patients," CEO Alex Oshmyansky said.

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The updated Covid vaccine boosters, a reformulated version targeting the BA.5 omicron subvariant [will] be the first Covid shots distributed without results from human trials. Because the Biden administration has pushed for a fall booster campaign to begin in September, the mRNA vaccine-makers Pfizer-BioNTech and Moderna have only had time to test the reformulated shots in mice, not people. That means the Food and Drug Administration is relying on the mice trial data – plus human trial results from a similar vaccine that targets the original omicron strain, called BA.1 – to evaluate the new shots. Federal health officials hope that the new vaccines will provide stronger protection over the existing booster shots, which still target the original coronavirus strain. But the lack of data in humans means officials likely won't know how much better the new shots are – if at all – until the fall booster campaign is well underway. The FDA's decision to move forward without data from human trials is a gamble, experts say, threatening to further lower public trust in the vaccines should the new boosters not work as intended. The U.S. is still on its first iteration of the Covid vaccines, and the mRNA technology has only been in widespread use since late 2020. The agency is making "huge assumptions" in its consideration of the new Covid boosters, [Dr. Paul] Offit said, adding that it's possible the new shots may not be any more effective than the existing vaccines.

Note: Read a revealing article with critical information about the new mRNA boosters. To further inquire into this complex topic, explore concise summaries of news articles on coronavirus vaccines and Big Pharma corruption from reliable major media sources.

Moderna set off a frenzy on Wall Street earlier this month when it announced positive, preliminary results from its coronavirus vaccine trial. As the hype grew, the young biotech company and its leading investor wasted no time capitalizing on the briefly surging stock price. Even as critics accused Moderna of overhyping the results released on May 18, a series of transactions were executed before its share price fizzled over the next week. The timing of those deals, former SEC officials said, appear to be "highly problematic" and should be investigated for potential illegal market manipulation. Just hours after revealing the promising vaccine results, Moderna (MRNA) sold 17.6 million shares to the public. That share sale, unveiled after the closing bell on May 18, was priced at $76; Moderna traded at just $48 as recently as May 6. The deal instantly raised $1.3 billion. Two of Moderna's top executives also cashed in on the boom at their company, which had suddenly amassed a $29 billion market value despite the fact it has no marketed products. By the time the selling was disclosed to the public via securities filings, Moderna's stock price had crashed back to Earth. The timing of the transactions - coupled with concerns from some medical experts that Moderna overstated the significance of its Phase 1 vaccine trial - should be investigated by authorities. Thomas Gorman, [a] former SEC official, said the agency should "absolutely" be investigating the situation at Moderna.

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In May 2008, as the opioid epidemic was raging in America, a representative of the nation’s largest manufacturer of opioid pain pills sent an email to a client at a wholesale drug distributor in Ohio. Victor Borelli, a national account manager for Mallinckrodt, told Steve Cochrane, the vice president of sales for KeySource Medical, to check his inventories and “[i]f you are low, order more. If you are okay, order a little more, Capesce?” Then Borelli joked, “destroy this email ... Is that really possible? Oh Well...” Those email excerpts are quoted in a 144-page plaintiffs’ filing along with thousands of pages of documents unsealed by a judge’s order Friday in a landmark case in Cleveland against many of the largest companies in the drug industry. A Drug Enforcement Administration database released earlier in the week revealed that the companies had inundated the nation with 76 billion oxycodone and hydrocodone pills from 2006 through 2012. Nearly 2,000 cities, counties and towns are alleging that the companies knowingly flooded their communities with opioids, fueling an epidemic that has killed more than 200,000. The filing by plaintiffs depict some drug company employees as driven by profits and undeterred by the knowledge that their products were wreaking havoc across the country. Plaintiffs in the case argue that the actions of some of America’s biggest and best-known companies - including Mallinckrodt, Cardinal Health, McKesson, Walgreens, CVS, Walmart and Purdue Pharma - amounted to a civil racketeering enterprise.

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A New Zealand man was recently arrested after allegedly illegally accessing COVID-19 vaccine data from the country's health agency. Barry Young, 56, a former IT employee at Te Whatu Ora, the country's health agency, was arrested and accused of illegally obtaining COVID-19 vaccine data and sharing it on the internet. Young appeared on Infowars, where he was interviewed by ... Alex Jones. "I just looked at the data and what I was seeing, since the rollout, it just blew my mind. I was just seeing more and more people dying that shouldn't have been dying. It was just obvious," Young told Jones. The incident comes as COVID-19 vaccine skeptics have continued to question the efficacy of the inoculation. Texas Attorney General Ken Paxton recently announced that he was suing vaccine manufacturer Pfizer "for unlawfully misrepresenting the effectiveness of the company's COVID-19 vaccine and attempting to censor public discussion of the product." During the interview with Infowars, Young explained that he had suspicions about the COVID-19 vaccine in New Zealand since its rollout. "I want people to analyze this, I want people to look at it...we need to open it up and the government needs to have an inquiry about it. Just bring it to the public's attention," Young said.

Note: U.S.-based genomics scientist Kevin McKernan had uploaded Barry Young's data onto a file hosting service, MEGA, only to have his whole account deleted by MEGA overnight. For more along these lines, see concise summaries of deeply revealing news articles on COVID vaccine problems from reliable major media sources.

Pfizer's plan to as much as quadruple U.S. prices for its COVID-19 vaccine next year is beyond Wall Street's expectations and will spur its revenue for years despite weaker than anticipated demand for the new booster shot so far, analysts said. The drugmaker, which developed and sells the vaccine with Germany's BioNTech, said on Thursday evening that it is targeting a range of $110 to $130 a dose for the vaccine once the United States moves to a commercial market next year. Analysts said the move could lead to price hikes by rivals. The companies have varied the pricing during the pandemic, with wealthy countries paying the most for the shots and the poorest countries the least. Wells Fargo analyst Mohit Bansal said the new pricing range for the vaccine could add around $2.5 billion to $3 billion in annual revenue for Pfizer. "This is much higher than our assumption of $50 per shot," Bansal wrote in a research note. Global vaccine access group the People's Vaccine Alliance, which has pushed for Pfizer to allow cheaper copies of the vaccine to be made, called the proposed price hike "daylight robbery." The price range announced by Pfizer represented a more than 10,000% markup over what experts have estimated it costs the vaccine makers to produce the shots.

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Public health initiatives in the United States are suffering from a crisis of trust. Recent polls show that only a third of the public trusts insurance and pharmaceutical companies, while just 56 percent trust the government health agencies that are meant to regulate these industries. Another survey during the COVID-19 pandemic showed that only around half of Americans have a "great deal" of trust in the CDC, while a mere third have such trust in the Department of Health and Human Services. When the mRNA vaccines for COVID-19 were made available to the public free of charge, a national conversation began about "vaccine hesitancy"–the phenomenon of Americans choosing not to be vaccinated even when incentivized and, in some cases, coerced. Americans had watched public health experts lie, misdirect, ignore evidence and yield to professional pressure. Few wanted to be their guinea pigs. Not all the COVID-19 gaslighting was the fault of the media or politicians - much was implemented by experts abusing their apolitical position of trust. The experts ... including Drs. Deborah Birx and Anthony Fauci, insisted on the most asinine and evidence-free preventative measures, including facial coverings, lockdowns and social distancing. Their insulated role as health advisers enabled them to manipulate health policy in ways that benefited only themselves. The most stark example was the corruption of data collection at the Center for Disease Control–a scandal that crashed public trust to a new low.

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A foundation representing the vaccine maker BioNTech has been accused of seeking to undermine the World Health Organization's initiative to bring covid vaccine manufacturing to the African continent. The kENUP Foundation, a consultancy hired by BioNTech, has claimed that WHO's hub, which is creating a covid-19 mRNA vaccine that African companies can make, is unlikely to be successful and will infringe on patents, documents obtained by The BMJ have shown. Instead, they show kENUP promoting BioNTech's proposal to ship mRNA factories housed in sea containers from Europe to Africa, initially staffed with BioNTech workers, and a proposed new regulatory pathway to approve the vaccines made in these factories. The novel pathway has been described as paternalistic and unworkable. The move threatens the pan-African venture backed by WHO that seeks to scale up African production of lifesaving vaccines from 1% to 60% by 2040. WHO's technology transfer hub, launched in June 2021 and based in South Africa, uses publicly available information to recreate Moderna's vaccine, to teach companies and scientists across the continent how to use mRNA technology. It will then develop a comparable vaccine, which, if successful in clinical trials and approved by regulators, it will manufacture industrially. In a document sent to South African government officials after a visit to the country on 11-14 August last year, the kENUP Foundation said that the hub's activity should be stopped.

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Pfizer Inc wants to intervene in a Texas federal lawsuit seeking information from the U.S. Food and Drug Administration used in licensing the company's COVID-19 vaccine, a litigation move that plaintiffs who are suing for the data say is premature. Pfizer's lawyers at DLA Piper told U.S. District Judge Mark Pittman on Jan. 21 it wanted a role in the proceedings to help the FDA avoid "inappropriately" disclosing trade secret and confidential commercial information. On Tuesday night, the group of doctors and scientists who sued last year over public access to the FDA's Pfizer licensing records said in a court filing that the company's bid to jump into the lawsuit was untimely because the plaintiffs have not challenged any redactions to requested records. Earlier this month, the judge ordered a fast-track release of hundreds of thousands of documents, calling the case "of paramount public importance." U.S. government agencies control the release of information under federal public-records laws, but companies can challenge and even sue to block the disclosure of certain details. The FDA earlier drew criticism over its plan to release 500 pages a month in response to the lawsuit from Public Health and Medical Professionals for Transparency, a production schedule that would take more than 50 years to complete. In its filing, Pfizer said the company supports public disclosure of FDA records "to promote transparency and the public's confidence in the vaccine."

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A new generation of Covid-19 treatments will soon be available, and they matter more than many people realize. They have the potential to substantially reduce hospitalization and death. In the simplest terms, they can help turn Covid into a more ordinary respiratory disease, similar to the common cold or flu, rather than one that's killing about 1,000 Americans a day and dominating daily life for millions. Two treatments are on the way – one from Pfizer and one from Merck – and they will have both medical and psychological benefits. Not only can they reduce serious Covid illness, but they can also reduce Covid fears and help society move back to normalcy. Both Pfizer's and Merck's treatments are pill regimens that people take for five days after a positive Covid test. The pills prevent the virus from replicating inside the body and are broadly similar to treatments that revolutionized H.I.V. care in the 1990s. In truth, the virus has already been largely defanged. The death rate for vaccinated adults under 50 is virtually zero. Pfizer has projected that it will produce enough doses to treat 20 million people in the first half of next year. The Biden administration has agreed to buy 10 million of the treatments, known as Paxlovid, at a cost of about $530 each. Merck projects that it will produce more than 10 million courses of its drug, called molnupiravir, by the end of this year. The federal government has agreed to buy 3.1 million of those courses for around $700 each.

Note: And thus big Pharma is set to receive another huge windfall. Why are they setting prices so how and raking in huge profits when so many are suffering financially? For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus from reliable major media sources.

Pfizer reported that earnings and sales more than doubled in the past quarter, and it raised its outlook for results the full year, thanks greatly to its Covid-19 vaccine. The company reported adjusted earnings of $7.7 billion, up 133% from a year earlier. Revenue soared to $24.1 billion, up 134%. Both easily cleared results forecast by analysts. The vaccine business alone was responsible for more than 60% of the company's sales, as vaccine revenue rose to $14.6 billion from only $1.7 billion a year earlier. The company said its Covid vaccine sales accounted for $13 billion of that revenue. Revenue outside of its Covid vaccine business was up a far more modest 7%. This year, the Covid vaccine has brought in revenue of $24.3 billion. And Pfizer said it expects a total of $36 billion from the vaccine for all of 2021 – nearly $12 billion more in revenue the final quarter of the year. And it said based on contracts it now has signed it expects revenue $29 billion from the Covid vaccine in 2022. The company said it now expects full-year 2021 revenue of between $81 billion to $82 billion, up $2 billion from its earlier guidance. It also raised its earnings per share outlook by about 3% to 5% above what it had been expected to earn. About 67% of the total US population has had a least one dose of a Covid vaccine, and 58% are fully vaccinated, according to data tracked by the Mayo Clinic.

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As Purdue Pharma seeks approval for a controversial bankruptcy settlement, it has retained the services of highly compensated lobbying firms Brownstein Hyatt Farber Schreck and Capitol Hill Consulting Group. At the Purdue Pharma bankruptcy trial that began Thursday, Judge Robert Drain is widely expected to approve a proposed settlement of the Purdue Pharma bankruptcy that would release members of the billionaire Sackler family, the company's owners, from all current and future opioid-related civil claims. In the year and a half leading up to the trial, Purdue spent at least $1.2 million on federal lobbying expenses as it worked toward the settlement, an Intercept review of lobbying records shows. If the settlement is approved, the Sacklers will be making a contribution of $4.28 billion, which will leave them with over $6 billion at minimum in total assets – money that will be effectively untouchable by opioid crisis victims, even though it is Purdue going bankrupt, not the Sacklers. "This whole bankruptcy was the Sacklers trying to buy immunity," said activist Ed Bisch, who lost his son to an OxyContin overdose in 2001 and is a claimant and active opponent of the settlement. "The only question was what would be the price." Among the lobbyists paid by Purdue Pharma – maker of the opioid painkiller OxyContin – since it filed for bankruptcy reorganization in September 2019 are politically connected Brownstein Hyatt, which received $480,000, and Capitol Hill Consulting Group, which got $300,000.

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Johnson & Johnson is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection. During settlement discussions, one of the health-care conglomerate's attorneys has told plaintiffs' lawyers that J&J could pursue the bankruptcy plan, which could result in lower payouts for cases that do not settle beforehand. Plaintiffs' lawyers would initially be unable to stop J&J from taking such a step. J&J faces legal actions from tens of thousands of plaintiffs alleging its Baby Powder and other talc products contained asbestos and caused cancer. The plaintiffs include women suffering from ovarian cancer and others battling mesothelioma. Should J&J proceed, plaintiffs who have not settled could find themselves in protracted bankruptcy proceedings with a likely much smaller company. Future payouts to plaintiffs would be dependent on how J&J decides to fund the entity housing its talc liabilities. J&J is now considering using Texas's "divisive merger" law, which allows a company to split into at least two entities. For J&J, that could create a new entity housing talc liabilities that would then file for bankruptcy to halt litigation. The maneuver is known among legal experts as a Texas two-step bankruptcy. A 2018 Reuters investigation found J&J knew for decades that asbestos, a known carcinogen, lurked in its Baby Powder and other cosmetic talc products.

Note: Can we trust this company with vaccines? For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.

The factory that Pfizer Inc. plans to use to boost production of its covid-19 vaccine for the massive U.S. inoculation effort was cited by federal inspectors last year for repeated quality-control violations. Food and Drug Administration inspectors visited the McPherson, Kansas, plant at the end of 2019 into January 2020, according to an inspection report. They found the drug giant released medications for sale after failing to thoroughly review quality issues that arose in routine testing, the report shows. Additionally, the report says inspectors found bacteria and mold in supposedly sterile areas, an issue seen in previous visits to the facility. And the plant failed to properly sample drug products to ensure they didn't have excessive levels of certain toxins, the inspectors wrote. The FDA sent Pfizer a warning letter, the agency's strongest rebuke, concerning the factory in 2017 after the agency detected issues similar to those it found in 2020. The FDA concluded that Pfizer had addressed the violations in June 2018, a month before it returned to the facility and found more problems. The company plans to supply the U.S. with 200 million doses of its two-shot vaccine regimen by the end of May. The FDA halted all inspections of drugmaking facilities at the beginning of the Covid-19 pandemic, though it has since resumed some domestic visits. Pfizer's plant in Kansas is also authorized to make the Covid-19 treatment remdesivir.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and Big Pharma corruption from reliable major media sources.

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