Judgment Day is coming for narcotics industry

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BottenFieldofDreams
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Judgment Day is coming for narcotics industry

Post by BottenFieldofDreams »

Purdue Pharma will pay out $10-12 billion. Similar stakes for other companies, I think.

It's disappointing that the Sackler family of Purdue will get to live out their days with what is still [expletive] you wealth (with extra special [expletive] you). But money just creates so much leverage. It appears they've been carefully detaching their fortunes from the deadly poison they've built it on for years.

Will the FDA learn anything from this? Will the pharmaceutical marketing industry have to change? Will the price of insulin not rise 18 percent in the time it takes you to read this sentence? I have doubts. All the important people are righteously angry now. Tomorrow business will resume. Pro-tip: Be rich and healthy in America.
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G. Keenan
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Re: Judgment Day is coming for narcotics industry

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BottenFieldofDreams wrote:Purdue Pharma will pay out $10-12 billion. Similar stakes for other companies, I think.

It's disappointing that the Sackler family of Purdue will get to live out their days with what is still [expletive] you wealth (with extra special [expletive] you). But money just creates so much leverage. It appears they've been carefully detaching their fortunes from the deadly poison they've built it on for years.

Will the FDA learn anything from this? Will the pharmaceutical marketing industry have to change? Will the price of insulin not rise 18 percent in the time it takes you to read this sentence? I have doubts. All the important people are righteously angry now. Tomorrow business will resume. Pro-tip: Be rich and healthy in America.
Guess where all these same pharma companies are slinging their dope now? India, where there are a billion people just waiting to get addicted. You can just walk up an buy them over the counter.

The fines here will be a drop in the bucket compared to the profits made over the past 3 decades, and emerging economies with weak regulations will be their next profit centers.
Freed Roger
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Re: Judgment Day is coming for narcotics industry

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My understanding - states get the windfall. And lot of states are broke. This isn't a deal for the people affected by this. Red States like MO will figure a way to funnel this back to 1%
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BottenFieldofDreams
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Re: Judgment Day is coming for narcotics industry

Post by BottenFieldofDreams »

G. Keenan wrote:
BottenFieldofDreams wrote:Purdue Pharma will pay out $10-12 billion. Similar stakes for other companies, I think.

It's disappointing that the Sackler family of Purdue will get to live out their days with what is still [expletive] you wealth (with extra special [expletive] you). But money just creates so much leverage. It appears they've been carefully detaching their fortunes from the deadly poison they've built it on for years.

Will the FDA learn anything from this? Will the pharmaceutical marketing industry have to change? Will the price of insulin not rise 18 percent in the time it takes you to read this sentence? I have doubts. All the important people are righteously angry now. Tomorrow business will resume. Pro-tip: Be rich and healthy in America.
Guess where all these same pharma companies are slinging their dope now? India, where there are a billion people just waiting to get addicted. You can just walk up an buy them over the counter.

The fines here will be a drop in the bucket compared to the profits made over the past 3 decades, and emerging economies with weak regulations will be their next profit centers.
Tobacco has moved to developing nations as well.
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33anda3rd
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Re: Judgment Day is coming for narcotics industry

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[expletive] is hitting the fan for them for sure. The Sackler's already got a cold bucket of water in the face, they're VERY philanthropic and a lot of the non-profits and cultural organizations they donate to have told them they would no longer take their filthy money.
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thrill
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Re: Judgment Day is coming for narcotics industry

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G. Keenan wrote:Guess where all these same pharma companies are slinging their dope now? India, where there are a billion people just waiting to get addicted. You can just walk up an buy them over the counter.
Wow. Just straight up stealing Big Tobacco's playbook. You know you're a totally legit operation that's on the moral up and up when you play the tobacco industry's greatest hits, down to the final long play of getting the third world hooked on your product because they don't have as much awareness of the negative health effects of your product and their government won't regulate you.
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BottenFieldofDreams
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Re: Judgment Day is coming for narcotics industry

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33anda3rd wrote:[expletive] is hitting the fan for them for sure. The Sackler's already got a cold bucket of water in the face, they're VERY philanthropic and a lot of the non-profits and cultural organizations they donate to have told them they would no longer take their filthy money.
While I bemoan their fate of living out their disgrace in yacht clubs and sixth vacation homes, the fact that their money is no good to those organizations that need it so desperately to do good may be a real hot poker in their asses. We'll see ultimately what kind of responsibility they take. It's far easier to pay for the repairs of Notre Dame or build an opera house, than to admit and do something about the vast destruction you caused yourself. It requires a humility and conviction that I think is fair to doubt in them.
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Swirls
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Re: Judgment Day is coming for narcotics industry

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Purdue Pharma files for bankruptcy:

http://www.msn.com/en-us/money/companie ... ocid=ientp
Purdue Pharma, the drug manufacturer accused of triggering the nation’s epidemic of opioid addiction through its sale of the profitable but highly addictive painkiller OxyContin, filed for bankruptcy Sunday.

The Chapter 11 filing is expected to lead to the ultimate demise of a company that sold a fraction of the opioid prescriptions in the United States but nonetheless is most closely identified with the epidemic because of its pioneering role in the sale of narcotic pain pills. The company used aggressive, allegedly misleading, sales tactics to push physicians to prescribe millions of doses of its dangerously addictive pills.

The company’s move to seek financial shelter, part of a tentative settlement with thousands of litigants, will shift the focus to new wrangling over how potential proceeds will be divvied up by communities reeling under the burden of addiction and overdose deaths.
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