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Pharmaceutical Corruption News Stories
Excerpts of Key Pharmaceutical Corruption News Stories in Major Media


Below are key excerpts of revealing news articles on pharmaceutical industry corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

For further exploration, delve into our comprehensive Health and Food Corruption Information Center.


Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.


Administration Opposes Plan for Negotiating Medicare Drug Prices
2006-11-13, New York Times
Posted: 2006-11-16 22:01:45
http://www.nytimes.com/2006/11/13/washington/13medicare.html?ex=1321074000&en...

The Bush administration said on Sunday that it would strenuously oppose one of the Democrats’ top priorities for the new Congress: legislation authorizing the government to negotiate with drug companies to secure lower drug prices for Medicare beneficiaries. In an interview, Michael O. Leavitt, the secretary of health and human services, said he saw no prospect of compromise on the issue. Dozens of plans are available in every state. They charge different premiums and co-payments and cover different drugs. The 2003 Medicare law explicitly prohibits the federal government from negotiating drug prices or establishing a list of preferred drugs. Representative Nancy Pelosi, the California Democrat who is in line to become the House speaker, has said the House will take up legislation to repeal that ban in its first 100 hours under Democratic control. Senate Democrats have expressed a similar desire. The eight Democrats newly elected to the Senate all say Medicare should have the power to negotiate with drug makers.

Note: To understand how the drug companies have become the most powerful lobby in government and will compromise our health for their profits, read what a top MD has to say by clicking here.


Eli Lilly accused of shaping drug guidelines
2006-10-18, MSNBC/Associated Press
Posted: 2006-11-11 00:00:00
http://msnbc.msn.com/id/15320680/

Several government doctors say drug maker Eli Lilly & Co. subtly orchestrated medical guidelines for treatment of an often lethal blood infection, hoping to boost sales of a drug whose value is being debated. “This company is trying to insinuate its drug into many aspects of patient care that industry really shouldn’t be involved in,” said Dr. Naomi O’Grady, a critical care specialist at the National Institutes of Health. Three of her NIH colleagues claim in Thursday’s New England Journal of Medicine that Lilly worked through medical societies to influence standards for treating the blood infection, sepsis. Ultimately, Xigris was incorporated into the guidelines. Both the guidelines committee and a larger information campaign on sepsis were heavily funded by [Lilly]. Dr. Phil Dellinger, who helped lead the guidelines committee, said...“We’ve been catching grief because we’ve been taking a lot of Lilly money — and we’re appreciative of Lilly giving it.” The U.S. Food and Drug Administration approved Xigris in 2001, despite an evenly split vote by its advisory committee. The lead author of Thursday’s journal article, Dr. Peter Q. Eichacker, voted against approval. Some critics are unhappy that the drug, which works only for the sickest patients, was approved on the basis of a single experiment. Academic officials acknowledged in the published guidelines that Lilly gave more than 90 percent of $861,000 in grants for the campaign and medical recommendations. O’Grady, of NIH, said a panel of disease experts that she headed refused to endorse the sepsis guidelines largely because Lilly “convened the whole panel.”

Note: For lots more on how the powerful pharmaceutical industry endangers our lives, click here.


Drug Find Shocks Researchers: In Antipsychotics, Newer Isn't Better
2006-10-03, Washington Post
Posted: 2006-11-11 00:00:00
http://www.washingtonpost.com/wp-dyn/content/article/2006/10/02/AR20061002013...

Schizophrenia patients do as well, or perhaps even better, on older psychiatric drugs compared with newer and far costlier medications, according to a study published yesterday that overturns conventional wisdom about antipsychotic drugs, which cost the United States $10 billion a year. The results are causing consternation. The researchers who conducted the trial were so certain they would find exactly the opposite that they went back to make sure the research data had not been recorded backward. The study was requested by Britain's National Health Service to determine whether the newer drugs -- which can cost 10 times as much as the older ones -- are worth the difference in price. While the researchers had expected a difference of five points on a quality-of-life scale -- showing the newer drugs were better -- the study found that patients' quality of life was slightly better when they took the older drugs. There has been a surge in prescriptions of the newer antipsychotic drugs in recent years, including among children. In an editorial accompanying the British study, the lead researcher in the U.S. trial asked how an entire medical field could have been misled into thinking that the expensive drugs, such as Zyprexa, Risperdal and Seroquel, were much better.

Note: Those who have read our two-page health cover-up summary know very well how the entire medical field could have been misled. For those who haven't seen it: http://www.WantToKnow.info/healthcoverup


NIH: Scientists Escape Ethics Punishment
2006-09-12, CBS News/Associated Press
Posted: 2006-11-11 00:00:00
http://www.cbsnews.com/stories/2006/09/12/ap/tech/mainD8K3IQO00.shtml

Most of the federal scientists who improperly accepted personal money from drug or biotechnology companies walked away with reprimands or were allowed to retire unscathed. Only two of the 44 scientists found to have violated rules governing private consulting deals are being investigated for possible criminal activity, and they remain on the government payroll. NIH spokesman John Burklow said his agency wanted eight others reviewed for possible crimes, but those cases were rejected by the investigating office at the U.S. Health and Human Services Department. The two still outstanding...both committed "serious misconduct," so grave that they would be fired if they were civilians, NIH internal ethics reports contend. [A Congressional] subcommittee is expected to question NIH officials about documents showing it approved several taxpayer-paid trips for [Dr. Trey] Sunderland to attend conferences and events in places like Hawaii and Toronto, even after recommending his firing. Of the 44 alleged offenders...the majority received reprimands or warnings for failing to properly obtain approvals for their outside consulting work. NIH ethics reports allege...two scientists had unauthorized, unreported deals with drug companies -- Sunderland earning more than $600,000 over eight years for consulting and speeches and [Dr. Thomas] Walsh more than $100,000 in five years -- and that their consulting improperly overlapped with government duties.

Note: The Los Angeles Times later reported that Dr. Sunderland was the first NIH scientist in 14 years to be found guily of conflict of interest laws. For more vital information on major collusion between government and the pharmaceutical companies: http://www.WantToKnow.info/healthcoverup.


Placebo's power goes beyond the mind
2006-08-21, MSNBC News
Posted: 2006-11-11 00:00:00
http://www.msnbc.msn.com/id/14309026/

For years, scientists have looked at the placebo effect as just a figment of overactive patient imaginations. Sure, dummy medications seemed to curb epileptic seizures, lower blood pressure, soothe migraines and smooth out jerky movements in Parkinson's -- but these people weren't really better. Now, using PET scanners and MRIs ... researchers have discovered that the placebo effect is not "all in patients' heads" but rather, in their brains. New research shows that belief in a dummy treatment leads to changes in brain chemistry. Says Dr. Michael Selzer, professor of neurology at the University of Pennsylvania School of Medicine, "After pooh-poohing this for years, here are studies that show that our thoughts may actually interact with the brain in a physical way." New insights into how placebos work may even help scientists figure out how to harness the effect and teach people to train their own brains to help with healing. Studies in depressed patients ... have found that almost as many are helped by placebo treatments as by actual medications. Researchers are just starting to appreciate the power that the mind can have over the body. Part of what goes into the brain's interpretation is expectation. By changing the expectancy and bumping up the placebo response we might be able to ultimately find a way to provide sustained therapy for chronic pain.


Medicare drug plan is prescribing profits
2006-08-04, San Francisco Chronicle
Posted: 2006-11-11 00:00:00
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/08/04/BUG2PKAJGH39.DTL

Medicare's drug benefit has given a shot in the arm to pharmaceutical companies and insurers, whose revenue is climbing thanks to government subsidies for prescription medicine. What's happened so far: Drugmakers including GlaxoSmithKline and Pfizer reported higher-than-expected sales and profit in the second quarter, with some of the momentum coming from Medicare. Meanwhile, membership rolls of big insurers, including UnitedHealth Group and Humana, are mushrooming as Medicare beneficiaries sign up for drug plans. Drug companies -- which successfully thwarted price-control attempts -- are reaping the rewards of more seniors and disabled people getting access to their medications. British drugmaker GlaxoSmithKline's second-quarter net income grew 14 percent over the same quarter last year due in part to strong Medicare drug sales. Merck & Co., Schering Plough, Wyeth, Roche and Pfizer ... all exceeded analysts' expectations, reflecting sales boosts from the program. In the first three months of the benefit, brand-name drug prices rose 4 percent, according to a report from the AARP. WellPoint Inc., the nation's largest insurer, reported second-quarter profit gains of 34 percent. UnitedHealth ... posted quarterly profit gains of 26 percent. Humana reported earlier this week its second-quarter profit increased 9.9 percent and revenue jumped 52 percent over the same quarter last year, due in large part to a surge in Medicare membership. The insurer expects annual revenue to grow by 50 percent.

Note: This article fails to mention who pays for all these profits -- our tax dollars. To understand the degree of corruption in the pharmaceutical industry, read a two-page summary by one of the most respected MDs in the U.S. at http://www.WantToKnow.info/healthcoverup


Drug firms a danger to health - report
2006-07-26, Guardian (One of U.K.'s leading newspapers)
Posted: 2006-11-11 00:00:00
http://www.guardian.co.uk/medicine/story/0,,1806084,00.html

Drug companies are accused today of endangering public health through widescale marketing malpractices, ranging from covertly attempting to persuade consumers that they are ill to bribing doctors and misrepresenting the results of safety and efficacy tests on their products. In a report that charts the scale of illicit practices by drug companies in the UK and across Europe, Consumers International - the world federation of consumer organisations - says people are not being given facts about the medicines they take because the companies hide the marketing tactics on which they spend billions. "Irresponsible marketing practices form a serious, persistent and widespread problem among the entire pharmaceutical industry," says the report, which analyses the conduct of 20 of the biggest companies. Scandals such as the withdrawal of Vioxx ... show that unethical drug promotion is a consumer concern. Merck withdrew the drug in September 2004, but allegedly knew it could increase the chances of heart attacks and strokes from 2000 and has been accused of manipulating study results to play down the risk. More than 6,000 lawsuits have been filed against the company in the United States by people who claim they suffered heart attacks as a result of the drug. There is no room for complacency when drug companies spend twice as much on marketing as on research...but do not publish information on their drug promotion practices.


Medical Journal Says It Was Again Misled
2006-07-12, New York Times/Associated Press
Posted: 2006-11-11 00:00:00
http://www.nytimes.com/2006/07/13/health/13jama.html?ex=1310443200&en=a20364b...

For the second time in two months, The Journal of the American Medical Association says it was misled by researchers who failed to reveal financial ties to drug companies. The latest incident, disclosed in letters to the editor and a correction in Wednesday's journal, involves a study showing that pregnant women who stop taking antidepressants risk slipping back into depression. Most of the 13 authors have financial ties to drug companies including antidepressant makers, but only two of them revealed their ties when the study was published in February.

Note: To understand how the drug companies manipulate results and even exert tremendous influence over the U.S. Congress, see http://www.WantToKnow.info/healthcoverup


U.S. signs deal to stockpile anti-bird-flu drug
2006-07-01, San Francisco Chronicle
Posted: 2006-11-11 00:00:00
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/07/01/MNGDMJNKP21.DTL&h...

Federal health authorities have signed a two-year deal to help states buy more than half a billion dollars worth of the antiviral drug Tamiflu as a hedge against a pandemic of deadly avian influenza, but there is a catch: States will have to pay for three-quarters of it. Under terms of the deal negotiated with Roche by the Department of Health and Human Services, the states can order up to 31 million packets of Tamiflu -- each containing a 10-pill course of treatment -- for a total cost of $596 million over the next two years. The Bush administration announced late Friday that it had contracted with Swiss drugmaker Roche Laboratories Inc. to supply Tamiflu for stockpiles in all 50 states. The federal government, meanwhile, plans to build its own centralized stockpile. The plan is to have enough antiviral drug in state and federal warehouses by December 2008 to treat 81 million people. Tamiflu is considered by scientists to be the first line of defense against the H5N1 strain of bird flu. The disease is currently confined primarily to chickens, ducks and some wild waterfowl, but researchers fear it could mutate into a form that spreads easily among humans.

Note: No mention is made here that Donald Rumsfeld has already made millions from sales of Tamiflu, and that he was on the board of the company that developed the drug. Many top researchers also believe there is little chance of avian flu mutating. Why are we spending hundreds of millions of dollars to combat a virus which has not even mutated yet? To verify these and other vital facts, see http://www.WantToKnow.info/avianflu


Top Democrat Finds F.D.A.'s Efforts Have Plunged
2006-06-27, New York Times
Posted: 2006-11-11 00:00:00
http://www.nytimes.com/2006/06/27/health/policy/27fda.html?ex=1309060800&en=e...

A 15-month inquiry by a top House Democrat has found that enforcement of the nation's food and drug laws declined sharply during the first five years of the Bush administration. For instance, the investigation found, the number of warning letters that the Food and Drug Administration issued to drug companies, medical device makers and others dropped 54 percent, to 535 in 2005 from 1,154 in 2000. The seizure of mislabeled, defective or dangerous products dipped 44 percent. The research found no evidence that such declines could be attributed to increased compliance with regulations. Investigators at the F.D.A. continued to uncover about the same number of problems at drug and device companies as before...but top officials of the agency increasingly overruled the investigators' enforcement recommendations. The investigation found that by almost every measure, enforcement actions had significantly declined from 2000 to 2005. Dr. Sidney M. Wolfe, director of the Health Research Group at the watchdog organization Public Citizen, noted that the agency now received about $380 million a year in fees from drug makers. "The public," Dr. Wolfe said, "is getting the kind of F.D.A. that the industry is paying for them to get."

Note: For lots more on collusion between government and the medical industry, see our Health Information Center at http://www.WantToKnow.info/healthinformation


Donations tie drug firms and nonprofits
2006-05-28, Philadelphia Inquirer (Philadelphia's leading newspaper)
Posted: 2006-11-11 00:00:00
http://www.philly.com/mld/inquirer/living/health/14687073.htm

The American Diabetes Association...privately enlisted an Eli Lilly & Co. executive to chart its growth strategy. The National Alliance on Mental Illness...lobbies for treatment programs that also benefit its drug-company donors. The National Gaucher Foundation...gets nearly all its revenue from one drugmaker, Genzyme Corp. Many patient groups and drug companies maintain close, multimillion-dollar relationships while disclosing limited or no details about the ties. An Inquirer examination of six groups, each a leading advocate for patients in a disease area, found that the groups rarely disclose such ties when commenting or lobbying about donors' drugs. Combined, the six received at least $29 million from drug companies last year. The amount ranged from 2 percent to 7 percent of revenue at the Arthritis Foundation, to 89 percent to 91 percent at the much smaller National Gaucher Foundation. The funding usually comes from the companies' marketing or sales divisions, not charity offices. Grants often rise with promotional spending as a drug hits the market and fall when sales ebb. Donations from Merck and Pfizer Inc. to the Arthritis Foundation more than doubled, to at least $1.65 million combined, in 2000 as they launched Vioxx and Celebrex. Merck explicitly wove the foundation into sales strategies. In 2000-2001, the American Diabetes Association did not disclose an unusual gift from Lilly: a lent executive, Emerson "Randy" Hall Jr., who moved into its Alexandria, Va., headquarters and coached it on growth strategies, all paid by Lilly.

Note: If you want to understand how the huge pharmaceutical industry influences what you know about their drugs, this article is a must read. You may first want to read a riveting two-page summary of an exposé by the former editor-in-chief of the New England Journal of Medicine, who details major collusion and corruption in the pharmaceutical industry at http://www.WantToKnow.info/healthcoverup


Psychiatric drugs fare favorably when companies pay for studies
2006-05-24, USA Today
Posted: 2006-11-11 00:00:00
http://www.usatoday.com/news/health/2006-05-24-drug-studies_x.htm?POE=NEWISVA

Drug companies fund a growing number of the studies in leading psychiatric journals, and drugs fare much better in these company-funded studies than in trials done independently or by competitors, researchers reported Wednesday. About 57% of published studies were paid for by drug companies in 2002, compared with 25% in 1992, says psychiatrist Igor Galynker of Beth Israel Medical Center in New York City. His team looked at clinical research in four influential journals: American Journal of Psychiatry, Archives of General Psychiatry, Journal of Clinical Psychiatry and Journal of Clinical Psychopharmacology. In the report, released at the American Psychiatric Association meeting in Toronto, reviewers did not know who paid for the studies they evaluated, Galynker says. There were favorable outcomes for a medication in about: eight out of 10 studies paid for by the company that makes the drug; five out of 10 studies done with no industry support; three out of 10 studies done by competitors of the firm making the drug. As drug companies increasingly fund research that yields favorable outcomes for their drugs, there may be a built-in bias because journals are reluctant to publish studies with negative or inconclusive findings.

Note: To learn more about the astonishing profits and power of the major drug companies, read our concise summary of a major insider's research at http://www.WantToKnow.info/healthcoverup


Vaccine makers helped write Frist-backed shield law
2006-05-08, The Tennessean
Posted: 2006-11-11 00:00:00
http://tennessean.com/apps/pbcs.dll/article?AID=/20060508/NEWS02/605080356

Vaccine industry officials helped shape legislation behind the scenes that Senate Majority Leader Bill Frist secretly amended into a bill to shield them from lawsuits, according to e-mails obtained by a public advocacy group. E-mails and documents written by a trade group for the vaccine-makers show the organization met privately with Frist's staff and the White House about measures that would give the industry protection from lawsuits filed by people hurt by the vaccines. Frist, along with House Speaker Dennis Hastert, R-Ill., ordered the vaccine liability language inserted in a defense spending bill in December without debate and in violation of usual Senate practice. In a written statement, Frist spokeswoman Amy Call stated that the senator had promised publicly to include the vaccine liability protection in the defense spending bill. She did not address the issue of the influence of industry lobbyists.

Note: For one-paragraph summaries of media articles showing why the vaccine makers want this protection, click here.


Journals 'regularly publish fraudulent research
2006-05-03, The Guardian (One of the U.K.'s leading newspapers)
Posted: 2006-11-11 00:00:00
http://society.guardian.co.uk/health/story/0,,1766642,00.html

Fraudulent research regularly appears in the 30,000 scientific journals published worldwide, a former editor of the British Medical Journal (BMJ) said today. Even when journals discover that published research is fabricated or falsified they rarely retract the findings, according to Richard Smith, who was also chief executive of the BMJ publishing group. Writing in the latest edition of the Journal of the Royal Society of Medicine, Dr Smith called on editors to blow the whistle on bad research and to use their clout to pressure universities into taking action against dodgy researchers. The former BMJ editor said it was likely that research fraud was "equally common" in the 30,000 plus scientific journals across the globe but was "invariably covered up". His call for action comes in the wake of several high profile cases of fraudulent research, including the Korean scientist Hwang Woo-suk who fabricated stem cell research that it was claimed would open up new ways to treat diseases like Parkinson's. Dr Smith criticised the failure of scientific institutions, including universities, to discipline dodgy researchers even when alerted to problems by journals. "Few countries have measures in place to ensure research is carried out ethically," he said. "Most cases are not publicised. They are simply not recognised, covered up altogether or the guilty researcher is urged to retrain, move to another institution or retire from research."

Note: For reliable information on the collusion of industry, government, and research facilities who place profits above advances in public health: http://www.WantToKnow.info/healthcoverup


Experts Defining Mental Disorders Are Linked to Drug Firms
2006-04-20, Washington Post
Posted: 2006-11-11 00:00:00
http://www.washingtonpost.com/wp-dyn/content/article/2006/04/19/AR20060419025...

Every psychiatric expert involved in writing the standard diagnostic criteria for disorders such as depression and schizophrenia has had financial ties to drug companies that sell medications for those illnesses, a new analysis has found. Of the 170 experts in all who contributed to the manual that defines disorders from personality problems to drug addiction, more than half had such ties, including 100 percent of the experts who served on work groups on mood disorders and psychotic disorders. "I don't think the public is aware of how egregious the financial ties are in the field of psychiatry," said Lisa Cosgrove, a clinical psychologist at the University of Massachusetts in Boston. The analysis comes at a time of growing debate over the rising use of medication as the primary or sole treatment for many psychiatric disorders, a trend driven in part by definitions of mental disorders in the psychiatric manual. Cosgrove said she began her research after discovering that five of six panel members studying whether certain premenstrual problems are a psychiatric disorder had ties to Eli Lilly & Co., which was seeking to market its drug Prozac to treat those symptoms. The process of defining such disorders is far from scientific, Cosgrove added: "You would be dismayed at how political the process can be."


Drug firms accused of turning healthy people into patients
2006-04-11, The Guardian (One of the U.K.'s leading newspapers)
Posted: 2006-11-11 00:00:00
http://www.guardian.co.uk/science/story/0,,1751362,00.html

According to reports published today...healthy people are being turned into patients by drug firms which publicise mental and sexual problems and promote little-known conditions only then to reveal the medicines they say will treat them.The studies, published in a respected medical journal, accuse the pharmaceutical industry of "disease mongering" - a practice in which the market for a drug is inflated by convincing people they are sick and in need of medical treatment. The "corporate-sponsored creation of disease" wastes resources and may even harm people because of the medication they turn to, the researchers add. In 11 papers in the journal Public Library of Science Medicine, experts from Britain, the US and elsewhere argue that new diseases are being defined by specialists who are often funded by the drug industry.According to the researchers, the campaigns boost drug sales by medicalising aspects of normal life.

Note: For more on how the pharmaceutical companies can negatively impact your health and your wallet:
http://www.WantToKnow.info/healthcoverup


Science accuses BBC of medical quackery
2006-03-26, London Times
Posted: 2006-11-11 00:00:00
http://www.timesonline.co.uk/article/0,,2087-2104024,00.html

Some of Britain’s leading scientists have accused the BBC of “quackery” by misleading viewers in an attempt to exaggerate the power of alternative medicine. The criticisms centre on Alternative Medicine, a series broadcast on BBC2 in January. The key critics include two scientific advisers to the series: Edzard Ernst, professor of complementary medicine at Exeter University; and George Lewith, director of the centre for the study of complementary medicine at Southampton University. Lewith, an expert on the effects of acupuncture, said in an interview yesterday: “The experiment was not groundbreaking; its results were sensationalised.” A [BBC] spokesman said yesterday: “We take these allegations very seriously and we strongly refute them. We used two scientific consultants for the series, Professor Ernst and Jack Tinker, dean emeritus of the Royal Society of Medicine, both of whom signed off the programme scripts. It seems extremely unusual that Professor Ernst should make these comments so long after the series has aired.” The spokesman said Tinker had indicated he remained happy with the tone and content of the films, stating: “Fellow medics at the Royal Society, including one eminent professor, said it was the best medical series they had seen on television.”


Medical research increasingly funded by industry
2006-03-17, Reuters/Princeton Media Associates
Posted: 2006-11-11 00:00:00
http://princetoncme.com/news.php?story=20060317prof001

From 1994 to 2003, medical research funded by pharmaceutical and biotechnology companies steadily increased and now surpasses research funded by government or public sources, according to a review of the most frequently cited studies. In the new study, reported in the March 17th online issue of the British Medical Journal, the sponsorship of 289 articles...was determined. Overall, 60% of articles had government or public funding and 36% were funded by industry. However, this masks the dramatic rise in industry funding that occurred over time: in 1994, roughly 30% of articles were funded by industry compared with over 50% in 2001. Moreover, 65 of the 77 most cited randomized controlled trials involved industry funding. "Medical research should reflect public needs more closely and the efforts of all of those involved should be better coordinated," the authors emphasize.


Donald Rumsfeld makes $5m killing on bird flu drug
2006-03-12, Independent (one of the UK's leading newspapers)
Posted: 2006-11-11 00:00:00
https://www.independent.co.uk/news/world/americas/donald-rumsfeld-makes-5m-ki...

The US Defence Secretary has made more than $5m (Ł2.9m) in capital gains from selling shares in the biotechnology firm that discovered and developed Tamiflu, the drug being bought in massive amounts by Governments to treat a possible human pandemic of the disease. More than 60 countries have so far ordered large stocks of the antiviral medication - the only oral medicine believed to be effective against the deadly H5N1 strain of the disease - to try to protect their people. The United Nations estimates that a pandemic could kill 150 million people worldwide. The drug was developed by a Californian biotech company, Gilead Sciences. Mr Rumsfeld was on the board of Gilead from 1988 to 2001, and was its chairman from 1997. He then left to join the Bush administration, but retained a huge shareholding. The 2005 report showed that, in all, he owned shares worth up to $95.9m, from which he got an income of up to $13m. The firm made a loss in 2003, the year before concern about bird flu started. Then revenues from Tamiflu almost quadrupled, to $44.6m, helping put the company well into the black. Sales almost quadrupled again, to $161.6m last year.

Note: If the above link fails, click here. With both the avian flu and swine flu, top drug companies raked in billions of dollars from sales of medications and vaccines, most of which went unused and have now expired. For many more strange coincidences and facts around the avian and swine flu scares, take a look at our summary of eye-opening news articles available here.


Rumsfeld's growing stake in Tamiflu
2005-10-31, CNN
Posted: 2006-11-11 00:00:00
http://money.cnn.com/2005/10/31/news/newsmakers/fortune_rumsfeld/

The prospect of a bird flu outbreak may be panicking people around the globe, but it's proving to be very good news for Defense Secretary Donald Rumsfeld and other politically connected investors in Gilead Sciences, the California biotech company that owns the rights to Tamiflu. Rumsfeld served as Gilead (Research)'s chairman from 1997 until he joined the Bush administration in 2001, and he still holds a Gilead stake valued at between $5 million and $25 million. In the past six months fears of a pandemic and the ensuing scramble for Tamiflu have sent Gilead's stock from $35 to $47. That's made the Pentagon chief, already one of the wealthiest members of the Bush cabinet, at least $1 million richer. Rumsfeld isn't the only political heavyweight benefiting from demand for Tamiflu. Former Secretary of State George Shultz, who is on Gilead's board, has sold more than $7 million worth of Gilead since the beginning of 2005.


Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

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