Posts Tagged ‘pharmaceutical companies’

Hooked on Prescription Drugs – Half of US Took at least One Prescription Drug in Previous Month

My comments in red. – Ilene

Hooked on Prescription Drugs – Half of US Took at least One Prescription Drug in Previous Month

Courtesy of Mish

AN ELDERLY WOMAN IS HOLDING PILL BOTTLES.PROPER MEDICATION CAN RELIEVE THE COMPLICATIONS OF AGING. IT IS IMPORTANT FOR A PERSON TAKING MORE THAN ONE MEDICATION TO HAVE A DOCTORS SUPERVISION TO AVOID SYNERGISTIC SIDE EFFECTS. ADDICTIONS CAN ALSO RESULT FROM INAPPROPRIATE MEDICATION.

Here is an interesting article on Bloomberg regarding prescription drug usage. The study is from 2008. Please consider Prescription Drug Use Rose to Include Half of Americans in 2008.

Almost half of Americans took at least one prescription drug per month in 2008, an increase of 10 percent over the past decade, a U.S. study found.

One of every five children ages 11 or younger took at least one medication each month in 2008, led by asthma and allergy treatments, according to the survey released today by the U.S. Centers for Disease Control and Prevention. Among those ages 60 or older, 37 percent used five or more prescriptions per month.

The most common medications for adolescents were treatments for attention-deficit disorder, a condition in which people have trouble paying attention and engage in impulsive behavior.

For adults ages 20 to 59, antidepressants, including Eli Lilly & Co.’s Cymbalta and Pfizer Inc.’s Zoloft, were the most-used drugs. In the last 10 years cymbalta withdrawal symptoms have dramatically been lowered to levels accepted by regulatory agencies. Cholesterol-lowering medications, including Pfizer Inc.’s Lipitor and AstraZeneca Plc’s Crestor, were the most common drugs taken by people ages 60 and over, with 45 percent of those in that age group on such therapies.

$238 Billion Industry

Prescription drug were a $234.1 billion industry in 2008. The number is certainly higher today. Are pharmaceutical companies interested in curing anything or just treating the symptoms?

[The pharmaceutical companies are most interested in making profits, though individual scientists that work for the pharmaceutical companies are typically more ethical than the collective "corporation," aiming to both cure disease and alleviate symptoms.  Unlike some conspiracy theorists, I don't believe that bad outcomes driven by the profit motive are a result of massive plots to make money and make people so sick they need more medications.  See for example: After Avandia: Does the FDA Have a Drug Problem?]

Throughout grade and high school,…
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Might I Also Suggest Subsidized Crack For Crackheads Perhaps?

Might I Also Suggest Subsidized Crack For Crackheads Perhaps?

Courtesy of Jr. Deputy Accountant 

Oh Big Pharma, your marketing talents never cease to amaze me. As if Crestor and the like haven’t gotten enough of a push lately with drug companies now able to market statins to those with lifestyles that might lead to higher cholesterol, British researchers have actually suggested that statins should be offered as condiments to balance the unhealthy effects of fast food. 

You have got to be kidding me. Why not try keeping the Big Mac out of your mouth, fat a*s?

Via MedPage today:

Patrons of fast-food restaurants may see packets containing statins next to the ketchup and salt at the self-serve counter if the suggestion of British researchers becomes reality.

Emily Ferenczi, BMBCh, of Imperial College London, and colleagues calculated that most daily statin regimens would be enough to neutralize the increased cardiovascular risk associated with eating a quarter-pounder with cheese and small milkshake every day.

Because statins are cheap, relatively safe even at high doses, and effective for reducing cardiovascular risk across patient subgroups, offering them to individuals who choose to eat an unhealthy diet against best medical advice might make sense, they argued in an editorial in the American Journal of Cardiology.

"It cannot … be reasonably argued on safety grounds that individuals should be free to choose to eat lipid-rich food but not be free to supplement it with a statin," they wrote.

A recent LA Times article wonders just how effective statins can be - it appears to me they are quite effective… at making money, that is.

As the world’s most-prescribed class of medications, statins indisputably qualify for the commercial distinction of "blockbuster." About 24 million Americans take the drugs — marketed under such commercial names as Pravachol, Mevacor, Lipitor, Zocor and Crestor — largely to stave off heart attacks and strokes.

At the zenith of their profitability, these medications raked in $26.2 billion a year for their manufacturers. The introduction in recent years of cheaper generic versions may have begun to cut into sales revenues for the brand-name drugs that came first to the market, but better prices have only fueled the medications’ use: In 2009, U.S. patients filled 201.4 million prescriptions for statins, according to IMS Health, which tracks prescription drug trends. That’s nearly double the number of prescriptions written for


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Cancer Treatments: The New Frontier

Cancer Treatments: The New Frontier

Courtesy of Pharmboy

Cancer is characterized by a group of abnormal cells that grow and replicate uncontrollably. These cells’ rapid replication allows them to invade adjacent tissues and organs and even spread to other parts of the body. As they replicate, they can crowd out organs, preventing the body’s essential processes from occurring normally. Cancer, if left untreated, can hinder the body’s organs from performing their functions enough to cause death.

Cancer is the second leading cause of death in the U.S. in 2009.  Figures 1 and 2 show the Male and Female breakdown of different cancer types from the CDC (as of 2006) and we can understand why now prostate and breast cancer research top the list.  Next comes lung, and Figure 3 shows a adenocarcinoma in the lung.

Number of deaths for leading causes of death:

  • Heart disease: 631,636
  • Cancer: 559,888
  • Stroke (cerebrovascular diseases): 137,119
  • Chronic lower respiratory diseases: 124,583
  • Accidents (unintentional injuries): 121,599
  • Diabetes: 72,449
  • Alzheimer’s disease: 72,432
  • Influenza and Pneumonia: 56,326
  • Nephritis, nephrotic syndrome, and nephrosis: 45,344
  • Septicemia: 34,234

  Figure 1. Top 10 Cancers: Male 

Figure 2. Top 10 Cancers: Female

Figure 3.  Adenocarcinoma – Lung cancer

For about 40 years, the pharmaceutical and government sponsored research have waged a war on cancer, and many think that it has been a failure as the age-adjusted mortality rate for cancer is essentially unchanged over that time.  But that’s a deceptive metric.  S. Dubner points out that the "flat mortality rate actually hides some good news. Over the same period, age-adjusted mortality from cardiovascular disease has plummeted, from nearly 600 people per 100,000 to well below 300. What does this mean? Many people who in previous generations would have died from heart disease are now living long enough to die from cancer instead."

BusinessWeek had an article on the costs of life, and as the population ages and the baby boomers start to retire, how are we to think about the costs associated with fighting cancer?

Eric C. Sun et al. (“An Economic Evaluation of the War on Cancer” (link) 2010) attempt to measure the degree to which R&D spending on cancer has benefited not only the life expectancy, but also the social and economic value to the economy.

For decades, the U.S. public and private sectors have committed substantial resources towards cancer research, but the societal


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Healthcare Reform Sausage Not Fit For Consumption

Healthcare Reform Sausage Not Fit For Consumption

Courtesy of Mish  

Reverse of trade card

As healthcare "reform" heads for passage, president Obama will soon have bragging rights for getting legislation passed that no one has before.

Although the Senate and House versions are different, the odds are something will pass. Moreover the odds are very high the final bill will resemble legislation passed by the Senate.

Senate House Clash

Please consider Senate Democrats Move Toward Clash With House on Health Measure

Senate Democrats, after securing a hard-fought Christmas Eve victory on health-care legislation, now move toward a battle over taxes and other issues with the U.S. House as lawmakers look to merge their differing bills.

The two chambers took different paths toward covering tens of millions of uninsured Americans. And when they begin reconciling their measures next month, they’re likely to clash over issues that include whether to set up a new government-run insurance program to restricting federal funds for abortion.

Finding agreement on financing the legislation “may be the toughest of all,” said Senator Charles Schumer, a New York Democrat.

The House adopted a 5.4 percent income surtax on individuals earning more than $500,000 and couples earning over $1 million to pay for its $1.05 trillion bill. Senate Democrats would fund their $871 billion bill, which passed on a final vote of 60-39 yesterday, in part by placing a 40 percent excise tax on the costliest health-insurance policies. That provision is opposed by labor unions, which are among the party’s strongest backers.

Because it required all 58 Senate Democrats and two independents to stick together to get the 60 votes needed to secure passage of the chamber’s health-care bill, Thurber said it’s likely the Senate will win out on most issues. “The narrow majority in the Senate makes it almost a necessity to go with the Senate position,” Thurber said.

House negotiators “will have to capitulate on most main differences,” agreed Rogan Kersh, a public policy professor at New York University.

Drugmakers including Whitehouse Station, New Jersey-based Merck & Co. have a number of fights on their hands. Lawmakers are pushing for the industry to spend more than the $80 billion that it promised to help patients in the Medicare program for the elderly afford prescription drugs.

Negotiating Power

The House measure calls for the government to capitalize on its buying power to


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How Drug-Industry Lobbyists Won on Health-Care

How Drug-Industry Lobbyists Won on Health-Care

Jim Greenwood, President and CEO of the Biotechnology Industry Organization.  TIME

By Karen Tumulty and Michael Scherer, courtesy TIME

In Congress, committee chairmen are known as the old bulls for a reason: it’s unwise to provoke them. So it isn’t often that you see one get rolled by his own committee — especially when the chairman in question is the formidable and canny Henry Waxman and the issue in question is one that matters a lot to him. But that was what happened on July 31 as the House Energy and Commerce Committee was putting the final touches on health-reform legislation. Waxman’s fellow California Democrat Anna Eshoo offered a last-minute amendment that Waxman opposed. Knowing he would lose, Waxman decided to save face with a quick voice vote. But Eshoo insisted on a roll call, which would put every member on record. Waxman snapped at her, "You promised you wouldn’t do that!" The final tally was 47-11 against the chairman.

Waxman’s loss that day was a big victory for drug companies, which have spent more than any other segment of the medical industry to make sure that they come out winners in the effort to overhaul the nation’s health-care system. It’s understandable the drugmakers would want a roll-call accounting of who their friends and enemies are, considering the size of the investment they are making on Capitol Hill: in the first six months of this year alone, drug and biotech companies and their trade associations spent more than $110 million — that’s about $609,000 a day — to influence lawmakers, according to figures compiled by the nonpartisan watchdog group Center for Responsive Politics. The drug industry’s legion of registered lobbyists numbers 1,228, or 2.3 for every member of Congress. And its campaign contributions to current members of Waxman’s committee have totaled $2.6 million over the past three years.

The return on that investment has been considerable, both in the House and in the Senate. "We’ve done very well," says lobbyist Jim Greenwood, a former Republican Congressman from Pennsylvania who was a member of the Energy and Commerce Committee and now heads the Biotechnology Industry Organization (BIO). "We carried a majority of the Democrats and a majority of the Republicans in each of the committees, and by very clear margins."

Whether the broader public is benefiting from the industry’s success is less clear. How Greenwood’s group has scored decisive early…
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Drugmakers Ramp Advertising Campaign For Health Care Reform

Drugmakers Ramp Advertising Campaign For Health Care Reform

drug-makersCourtesy of Mish

Be prepared for a barrage of commercials from pharmaceutical manufacturers telling you what a "tremendous deal" the health care reform package is. Clearly reform is a "tremendous deal" for them, otherwise they would not be pushing it so hard.

Please consider Drugmakers Consider Ad Campaign on Health Overhaul.

Drugmakers are considering a $100 million advertising campaign starting as early as September to push legislation that would overhaul the health care system, said a person familiar with the discussion.

The Pharmaceutical Research and Manufacturers of America, the industry’s lobbying group, discussed funding the ad campaign during a meeting in Washington last week, the person said. PhRMA spokesman Ken Johnson said no decision has been reached on the group’s campaign strategy for when Congress reconvenes after the August recess.

PhRMA will be running television commercials in August promoting the importance of the drug industry on the economy in states where pharmaceutical companies have operations, Johnson said. PhRMA said they support measures to revamp the health care system and will contribute $80 billion over 10 years to lowering drug costs. They also stand ready to oppose legislation that would allow the government to directly negotiate prices on medicines sold through the prescription drug program of Medicare, the government’s health plan for the elderly and disabled.

Two people familiar with the discussions in Washington said the amount of money put into ads could increase to $120 million.

$8 Billion a year for 10 Years

Will PhRMA really lower costs by $80 billion? Who gets to measure? How much will PhRMA profit?

In order, the answers are no, PhRMA, and immense.

The last two questions are easy to figure out. The pharmaceutical manufacturers would not be spending $120 million in advertising if it did not mean immense profits for them. Note "They also stand ready to oppose legislation that would allow the government to directly negotiate prices on medicines sold through the prescription drug program of Medicare, the government’s health plan for the elderly and disabled."

In other words the manufacturers do not want group rates. US consumers pay the highest rates in the world for prescriptions. I would like to see legislation that would allow drug imports come in from Canada and for the rest of the world to pay their share of the


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Phil's Favorites

That Time Keynes Had a Point

 

That Time Keynes Had a Point

By John Mauldin, Thoughts from the Frontline

“Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist. Madmen in authority, who hear voices in the air, are distilling their frenzy from some academic scribbler of a few years back.”

John Maynard Keynes

I begin with this Keynes quote because, while true, it doesn’t go far enough. The problem isn’t simply defunct economists or “scribblers of a few years back.” We are in the grip of economists who, far from being defunct, hold great power. Whether they hear voices in the air (or Twitter), I...



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Zero Hedge

Belgian F-16 Pilot Ejects Before Fiery Crash, Gets Caught In High Voltage Power Lines

Courtesy of ZeroHedge View original post here.

A Belgian F-16 fighter jet crashed in Northwestern France on Thursday, leaving one of its pilots hanging by his parachute from high voltage electricity lines, according to the BBC

Both pilots had minor injuries after they ejected from the plane, which clipped the roof of a house and crashed in a field near Pluvinger. The pilot stuck in the 250,000 volt power lines was brought down after a two hour rescue operation by French emergency ser...



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Digital Currencies

Buyer beware: How Libra differs from Bitcoin

 

Buyer beware: How Libra differs from Bitcoin

Recent revelations about the lack of privacy protections in place at the companies involved in Facebook’s new Libra crytocurrency raise concerns about how much trust users can place in Libra. (Shutterstock)

Courtesy of Alfred Lehar, University of Calgary

Facebook, the largest social network in the world, stunned the world earlier this year with the announcement of its own cryptocurrency, Libra.

The launch has raised questions about the difference between Libra and existing cryptocurrencies, as well as the implications of private companies competing with s...



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Lee's Free Thinking

Look Out Bears! Fed New QE Now Up to $165 Billion

Courtesy of Lee Adler

I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



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The Technical Traders

Is A Price Revaluation Event About To Happen?

Courtesy of Technical Traders

Skilled technical traders must be aware that price is setting up for a breakout or breakdown event with recent Doji, Hammer
and other narrow range price bars.  These types of Japanese Candlestick patterns are warnings that price is coiling into
a tight range and the more we see them in a series, the more likely price is building up some type of explosive price breakout/breakdown move in the near future.  The ES (S&P 500 E-mini futures) chart is a perfect example of these types of price bars on the Daily chart (see below).

Tri-Star Tops, Three River Evening Star patterns, Hammers/Hangmen and Dojis are all very common near extreme price peaks and troughs.  The rea...



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Kimble Charting Solutions

India About To Experience Major Strength? Possible Says Joe Friday

Courtesy of Chris Kimble

If one invested in the India ETF (INDA) back in January of 2012, your total 7-year return would be 24%. During the same time frame, the S&P 500 made 124%. The 7-year spread between the two is a large 100%!

Are things about to improve for the INDA ETF and could it be time for the relative weakness to change? Possible!

This chart looks at the INDA/SPX ratio since early 2012. The ratio continues to be in a major downtrend.

The ratio hit a 7-year low a few months ago and this week it kissed those lows again at (1). The ratio near weeks end is attempting to...



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Insider Scoop

10 Biggest Price Target Changes For Friday

Courtesy of Benzinga

  • Credit Suisse raised IHS Markit Ltd (NYSE: INFO) price target from $68 to $76. IHS Markit shares closed at $67.75 on Thursday.
  • Wedbush boosted Restoration Hardware Holdings, Inc (NYSE: RH) price target from $170 to $185. RH shares closed at $169.49 on Thursday.
  • Mizuho lifted Seagate Technology PLC (NASDAQ: STX) price target from $46 to $50. Seagate shares closed at $52.94 on Thursday.
  • UBS raised the price target for Weight Watchers Intern...


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Chart School

Crude Oil Cycle Bottom aligns with Saudi Oil Attack

Courtesy of Read the Ticker

Do the cycles know? Funny how cycle lows attract the need for higher prices, no matter what the news is!

These are the questions before markets on on Monday 16th Aug 2019:

1) A much higher oil price in quick time can not be tolerated by the consumer, as it gives birth to much higher inflation and a tax on the average Joe disposable income. This is recessionary pressure.

2) With (1) above the real issue will be the higher interest rate and US dollar effect on the SP500 near all time highs.

3) A moderately higher oil price is likely to be absorbed and be bullish as it creates income for struggling energy companies and the inflation shock may be muted. 

We shall see. 

...

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Biotech

The Big Pharma Takeover of Medical Cannabis

Reminder: We are available to chat with Members, comments are found below each post.

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless co...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

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