Investigation of generic ‘cartel’ expands to 300 drugs
Why is anyone so upset about drug companies ripping everybody off??? What did people think would happen when we were chained to Big Pharma by Hopey-Changey and his fraudulent ACA? Price fixing was no doubt going on before then but when it was decided that Americans couldn’t order prescription drugs from another country where they are less expensive, this was a natural result. But then again, YMMV.
Investigation of generic ‘cartel’ expands to 300 drugs
Executives at more than a dozen generic-drug companies had a form of shorthand to describe how they conducted business, insider lingo worked out over steak dinners, cocktail receptions and rounds of golf.
The “sandbox,” according to investigators, was the market for generic prescription drugs, where everyone was expected to play nice.
“Fair share” described dividing up the sales pie to ensure that each company reaped continued profits. “Trashing the market” was used when a competitor ignored these unwritten rules and sold drugs for less than agreed-upon prices.
The terminology reflected more than just the clubbiness of a powerful industry, according to authorities and several lawsuits. Officials from multiple states say these practices were central to illegal price-fixing schemes of massive proportion.
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What started as an antitrust lawsuit brought by states over just two drugs in 2016 has exploded into an investigation of alleged price-fixing involving at least 16 companies and 300 drugs, Joseph Nielsen, an assistant attorney general and antitrust investigator in Connecticut who has been a leading force in the probe, said in an interview. His comments in an interview with The Washington Post represent the first public disclosure of the dramatically expanded scale of the investigation.
“This is most likely the largest cartel in the history of the United States,” Nielsen said. He cited the volume of drugs in the schemes, that they took place on American soil and the “total number of companies involved, and individuals.”
https://www.washingtonpost.com/amphtml/business/economy/investigation-of...
Freaking insane. Like anyone with half a functional brain cell didn’t know we were being screwed by this gang of cheats, liars, and thieves. There is no mention of prosecution under RICO statutes but I believe they apply here.
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Cartel:
Everything involving capitalism is a cartel. Even our current form of government. Which should be prosecuted first?
Regardless of the path in life I chose, I realize it's always forward, never straight.
all forms of governance are cartels
Remove the term "international" from Item 1 in the above list. Cartels can and do exist within nations; the USA is particularly badly infested at the moment.
Given that, all forms of governance are cartels, including and especially all forms the State may take -- governments -- whether capitalist or not.
It's one disadvantage of the State out of many.
"US govt/military = bad. Russian govt/military = bad. Any politician wanting power = bad. Anyone wielding power = bad." --Shahryar
"All power corrupts absolutely!" -- thanatokephaloides
One might bring RICO into this, . . .
. . . since the scale of this looks ripe for multiple counts of all charges in multiple jurisdictions, but price-fixing normally is prosecuted under the Sherman Antitrust Act. Can be done at the federal or state levels. And it looks like that's in the works, for this to have gotten so far they're comfy letting it be publicized in the WaPo.
RICO charges
I'm not a lawyer, but it's my understanding that RICO comes in with respect to the specific persons in each of the perpetrating companies who are responsible for the price fixing. Sherman comes in to punish the corporations themselves in the only way possible -- amercing them -- while you use RICO to throw the responsible "natural biological humans" in the penitentiary.
"US govt/military = bad. Russian govt/military = bad. Any politician wanting power = bad. Anyone wielding power = bad." --Shahryar
"All power corrupts absolutely!" -- thanatokephaloides
Americans couldn’t order
This should have been one of the first things that was negotiated for the ACA. Or that pharmaceutical companies had to stop raising prices for generics. But no ... that wasn't the reason congress passed the ACA the way they did. It priced many people out of the insurance market.
I wouldn't put it past the government to be looking the other way when they upped the prices of drugs that had been available for many decades. What do they care if a few million of us die because we can't afford our medications? . the resources are not going to last forever ya know. And hell yes RICO their asses!
On a side note I read something a few years ago about how Israel bought a generic drug company and that was when a lot generic drug prices went up.
Scientists are concerned that conspiracy theories may die out if they keep coming true at the current alarming rate.
We can't order from Canada
Three more blood pressure drugs recalled over cancer
Irbesartan and losartan also recalled. (no link)
I think I'll stop taking my meds. I'd rather die of a heart attack or stroke than cancer. The big risk is having a stroke and not dying.
I've seen lots of changes. What doesn't change is people. Same old hairless apes.
The number of people who die each year from
prescription medications is under reported because this would get in the way of profits. Drugs kill hundreds of thousands of people a year and it takes more time to recall them than it does to get them approved. Many drugs don't even have to go through extensive testing before they are approved by the captured FDA. This is another great way to control the population.
Scientists are concerned that conspiracy theories may die out if they keep coming true at the current alarming rate.
China, yes, and India . n/t
A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.
But not canada ... Nooooo They are FOREIGN!
I've seen lots of changes. What doesn't change is people. Same old hairless apes.
It happens here too..,
Everything’s poisoned. From our veggies to our meds. Either intentionally, negligently, or purposely.
I'm tired of this back-slapping "Isn't humanity neat?" bullshit. We're a virus with shoes, okay? That's all we are. - Bill Hicks
Politics is the entertainment branch of industry. - Frank Zappa
Glad I grow my own fruit.
Except for oranges, and bananas. They won't grow here. Even though it was a bad year for tomatoes (too hot followed by too cold), I still didn't buy any gassed tomatoes. There is nothing like popping a ripe cherry tomato, warm from the Sun straight into your mouth right from the yard. Just like your ancestors did a million years ago. (OK, tomatoes are from Central America and there was no one there a million years ago. Still, a million years ago there were grapes where humans lived, just not seedless grapes.) Organic peaches fully ripe and juicy. Organic Apples, OK you have to cut out the parts the bugs got to. The rest is primo. Organic pears, no bugs to speak of in this state. Organic Strawberries (if the squirrels didn't get to them) Organic Raspberries, warm like the tomatoes, sweet with just a hint of bite.
I used to grow beets, carrots and lettuce, but the wild rabbits didn't want to share. they are too cute to get mad at.
EDIT: You don't have to worry about E. Coli on your lettuce if you grow it yourself, unless you water with water from your toilet.
I've seen lots of changes. What doesn't change is people. Same old hairless apes.
Not only did Obamacare not fix the drug situation, but Obama
reportedly killed a bill that would specifically allowed importation of drugs from Canada.
I have trouble finding the article now, but I read that at the time it happened. And, of course, Cory Booker helped Republicans do the same much more recently. You may remember that Cory Booker was an official Obama 2012 re-election campaign surrogate whom the campaign pulled off the talk show circuit for a time because he said that he did not agree with anti-business rhetoric. I doubt Obama agreed with it, except when his competition in that election consisted of
Bain Capital, the Kochs andBain-made billionaire, Mitt Romney.Of course, it was Bush who signed Medicare Part D, which, among other things, prohibited the US government from negotiating drug prices on behalf of Medicare recipients.
https://www.politico.com/story/2016/07/obamacare-prescription-drugs-phar... (Although I am citing it, I do take issue with the wording of one statement in this article: the drug industry did not torpedo the 1993 feint at a national health care plan; Democrats did, in part because they were rip shit about Hillary's handling of it. Drug companies can do whatever they do, which is a lot, but they do not directly vote on what happens to a bill in Congress.)
Also, Docs on the take...
A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.
Content deleted-duplicate post.
The very first thing Obama negotiated
Do I hear the sound of guillotines being constructed?
“Those who make peaceful revolution impossible will make violent revolution inevitable." ~ President John F. Kennedy
Yup
Rinse and repeat....
Scientists are concerned that conspiracy theories may die out if they keep coming true at the current alarming rate.
Is nothing sacred?
Next thing you know, it'll turn out that young and vulnerable aspirants in the performing arts are coerced into giving sexual favors to powerful producers, directors and star performers who are the gatekeepers to success!
The earth is a multibillion-year-old sphere.
The Nazis killed millions of Jews.
On 9/11/01 a Boeing 757 (AA77) flew into the Pentagon.
AGCC is happening.
If you cannot accept these facts, I cannot fake an interest in any of your opinions.
You are truly
arudemotherfucker.
Well done.
Regardless of the path in life I chose, I realize it's always forward, never straight.
Health care should not be a for profit system,
end of story period the end.
The entire health care situation is disgusting and this just provides further proof.
The only way forward is to demand the profit motive be removed from the health care system.
Btw, same thing Smedley Butler said about war and national defense.
Haven't looked into this but one reaction is why just the "generic" drug companies? Is this being driven by the non-generic drug companies? I don't know, I'm just suspicious that way.
Funny, I haven't seen
Funny, I haven't seen anything about this on the national news....I mean, I'll admit I don't really watch much of that, but still.....and people don't get that this whole thing is rigged yet. Sigh.
If it was easy, everyone would do it.