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Hillary Clinton Sends Letter To FTC Demanding Review Of Pharma Industry, Turing's "Anticompetitive Practices"
For those wondering if Hillary Clinton's feud with the pharmaceutical industry in general, and with Turing Pharma's Martin Shkreli in particular, is over we just got the answer: it is only just getting started.
It was one month ago that the Democratic presidential candidate released an ad slamming the infamous Martin Shkreli who made waves in early September, when an NYT piece focused first on his, than on Valeant's "astronomical" price increases, something which prompted us to conclude that the pain for biotechs is nowhere near done.
As Shkreli's nemeis Fierce Pharma reported then, Clinton's campaign managers told MSNBC they're continuing to focus on Shkreli because "the Turing pharmaceutical story is a winning issue for the candidate because it's understandable to real people and impacts people's lives." It also helps to reinforce Clinton's projected image as a "fighter," according to MSNBC.
In a Facebook Q&A on Monday, Clinton responded to questions about her stance and its impact on the industry. One woman asked about the plan, noting the fact that biotech stocks fell after her comments last week.
Clinton responded, "My plan actually encourages more investment in innovation and research, not less. So that should be a win-win for businesses and consumers. Biotech companies working on life-saving breakthroughs won't have anything to fear from my plan. But if you're price-gouging American families and jacking up costs for no good reason, I'm going to hold you accountable."
Clinton later called out Shkreli by name and then lumped in other drug companies, writing: "So Mr. Shkreli, what's it going to be? Do the right thing. Lower the cost today to its original price. There are other drug companies gouging Americans with higher prices than they charge other people around the world. We want to reward innovation, but right now consumers don't know if they are buying value or simply subsidizing high profits."
Then Clinton goes into a rundown of her proposals. "Force drug manufacturers to justify their prices, make sure they add real value. Require the largest drug manufacturers to invest a minimum amount in R&D. And--a new idea to chew on--let's explore using some of these new research funds to invest directly in producing generic competitors where none exists."
As Beth Bulik noted, the renewed attack is having peripheral effects on pharma companies that are doing real research and development, versus the smaller number that, like Turing, are snapping up old drugs and hiking prices.
Of course, there is little mention of how the broken US healthcare model, starting with Medicare and continuing through Obamacare of which Hillary is a fervent supporter have enabled not only Valeant and Turing, but the biotech space in general to boost prices without much if any public response, until now.
In any event, unable to make much policy headway elsewhere, and desperate to distract from the relentless focus on her own email scandal, moments ago Reuters reported that Clinton has sent a letter to the FTC for recommendations on "changing laws to prevent anticompetitive practices", with a focus on Turing which has become a poster child for all that is wrong with the US specialty pharma industry, and the pharmaceutical industry in general.
- IN LETTER, CLINTON ASKS FTC FOR RECOMMENDATIONS ON CHANGING LAWS TO PREVENT ANTICOMPETITIVE PRACTICES
- US DEMOCRATIC PRESIDENTIAL CANDIDATE CLINTON URGES FDA, FTC TO REVIEW TURING, PHARMACEUTICAL INDUSTRY
More from Reuters:
In her letter to the FDA, Clinton said that Turing has still not "meaningfully lowered the price" and its decision to "artificially increase the price" exploited vulnerable patients dependent on the drug, which is often used by those with compromised immune systems.
"The FDA should expedite any pending reviews, and encourage applications for review, of other generic alternatives to Daraprim," Clinton wrote.
In her letter to the FTC, Clinton acknowledged the commission has only "limited authority to address price gouging when it is the result of unilateral action in a market with no competition," but urges it to examine both the industry overall and Turing specifically.
"I believe it would be a great service to the Congress and the Administration if the FTC would study and make recommendations on whether and how our laws might be amended to address this problem," Clinton wrote, offering an indication of how she might attempt to overhaul pharmaceutical practices if elected president in November 2016.
Clinton also asked the FTC to investigate whether Turing's decision to increase Daraprim's cost amounts to the type of anticompetitive behavior the agency can regulate. Drug prices are also being scrutinized by Democrats in Congress and U.S. prosecutors. Most pharmaceutical companies regularly raise prices, saying it reflects the drugs' value in the market.
The Daraprim price increase was unusual because it was so large. Shkreli defended the steep hike in interviews, saying the company would assist needy patients, that the new price was still below comparable medicines and that the profits from Daraprim's sale would be channeled into developing new drugs.
Clinton last month unveiled a plan for a $250 monthly cap on out-of-pocket prescription drug costs and other measures to stop what she calls "price gouging" by pharmaceutical companies.
In other words, Clinton releases a letter to an organization which she admits has "limited authority to address price gouging when it is the result of unilateral action in a market with no competition" but does so any way. Why? For populist brownie points of course.
For now the biotech sector is completely ignoring this latest shot across the bow by Hillary, one which "threatens" the involvement of a toothless FTC, and was up 1% on the day, probably confident that all it will take to quash this particular scandal is for the biotech lobby to pay a $250,000 speech fee to Bill or Chelsea and all will be forgiven.
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The reaction...
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I say open back up Whitewater, the Rose Lawfirm, and Vincent Foster's "Suicide", oh and DNA test on Chelsa
Thanks for your inquiry Hillary.,...and we like cattle futures this morning.
In other news, Bill Cosby demands an end to date rape.
Did she write any letters about the pricing of the F-22?
Thank you for not saying F-35.
$412,000,000+ for each of these single-passenger airplanes seems a bit high to me.
http://nationalinterest.org/feature/why-america-wasting-the-f-22-raptor-...
Dude....just print the money....it's totally free.
surely you aren't implying we didn't get an appropriate amount of bang for our buck? and ya its pretty pathetic, calling it some kind of great feat of aerial combat, dropping a couple bombs on some undefended target. Pretty sure the could dig up a few air show P-51s and do the same thing.
Anything to jusitify that price tag, I suppose. I ain't buying it, though.
Take two F-35's after a hot bath, and call me in the morning.
Hillary, is this about Bill's Viagra bills? Can't the Clinton Foundation just cover them, or is this a Sandra Fluke thing?
A letter from Hillary, private citizen, Clinton, should have no more impact than any letter sent from any other private citizen. If it does, then Hillary proves what we all know, equality does not apply to the rich and powerful.
This is something she needs to fix, not propogate.
Big Pharma needs to develop moar biologic WMDs so they can cuddle up to the MIC and be exempt from criticism and the law.
Military industrial complex and medical/pharma insurance complex are under a single acronym.
MIC is the fiat transfer mechantsm of the NWO.
MIC - Fiat Redistribution Upward
BTW, Hillary is consumed with winning the Iowa caucus; playing to the geriatric demographics in that calcified state.
Hillary Clinton, consumate Israeli-firster.
The very thought of her going after the pharma industry is laughable. One of her biggest donors? Israeli's Teva. Now the biggest producer of generic drugs for U.S. markets, bar none. "...IN LETTER, CLINTON ASKS FTC FOR RECOMMENDATIONS ON CHANGING LAWS TO PREVENT ANTICOMPETITIVE PRACTICES..." ...except for her pimp, Teva
One of Teva's big sellers: doxycycline - a cheap, generic antibiotic that cost less than a penny per pill to produce. It sold for $0.06 a pill before the Israeli mafia got their hands on it. Now? $3.65 a pill. Shkreli is a God damn rank amateur, gouging on some weird-ass drug. Teva makes a half-billion on Doxycycline price gouging. The U.S. Congress continues to pass laws that don't come outright and say so, but have the practical effect of ensuring no other foreign producer can enter U.S. markets and compete with Teva. It's extortion backed by Israel's little dual-citizen bitches in the U.S. Congress.
How did a little Israeli company ever get so big? Easy - bribe U.S. congress to change generic drug laws to give them an advantage. Oh, and they also cheat on patent laws allowing production of any patented drug in Israel if it's not marketed there. Nothing wrong wth that, right? Well, except for when you kick drug makers out of Israeli markets and steal patents allowing Teva to get a leg up on manufacturing them. That and a bribed U.S. congress means the vast majority of generics sold in the U.S. are Teva, and they can gouge the hell out of Americans on prices. Teva makes several billion a year just selling to the various U.S. government health programs.
Hillary outraged at pharma? Great - Boycott, Divest, Sanction the butchers in Israel including their U.S. government tax-dollar stealing mafia: the criminal price-gouging drug company Teva.
anti-competitive practices vs. eternal patents
How can politicians be this retarded and still remember to breath?
Chelsea's egg swam in a sea .... of Wes Hubble's ugly stick cum !
and they never reduced the price of the drug like they publicly promised to do in response to the hurrah
Hillary 2016. Because...vagina.
The mind of a maniac in two videos
Bosnia sniper fire trip...
https://www.youtube.com/watch?v=8BfNqhV5hg4
Killing Gaddafi
We Came we saw he died
https://www.youtube.com/watch?v=Fgcd1ghag5Y
Now, her little reptilian brain stem knows two things- Run for president to stay out of jail and while campaigning change the debate to all of your wonderful programs and agendas.
She is a PURE FUCKING PSYCHOPATH.
As a homicidal PYSCHOPATH- don't let those sexy pantsuits fool you. She is able to say what ever fits the moment.
Hillary Clinton wanted to arm Syrian rebels, memoir revealsMeanwhile, at home...
Clinton Announces Massive Gun Control Plan No shit. That is why I am a prepper...She is a PURE FUCKING PSYCHOPATH
But unfortunately......that's completely legal.
Also, completely vetted for the office.
Hillary certainly has a vivid imagination.
If she were running for most evil bitch on the planet, she would get my vote.
I just wish Hillary would breathe, speak and die. So flippant about human life.
And what elected position does she have to demand these answers?
Exactly what I was thinking. What fucking authority does she have?
And how is this different than say sending a letter to CFTC asking them to investigate and crack down on rigging PM futures market using naked short sales? Or rigging Swaps market or HFT?
All bullshit rhetoric. Opportunistic and Lying bitch.
Clinton covering her bases; attacking big-pharma to get the Senior vote, rallying the pro-abortion/birth control crowd to get the Fems and the hapless youth.
She'll follow through on supporting the unborn baby killers/organ harvesters, but she'll let big-pharma slide with an open palm.
spot on... this is nothing more than a message to big pharma - "send campaign contributions my way or else"
Well, at least she's for "the Everyday American."
That's something, ain't it?
aaaaaaaand she represents who? from what state? hmmmmm, sounds a lot more like an attempt at deflection and vain efforts to boost one's polling numbers. fucking bitch.
lol - the woman who backs obamacare & universal healthcare system trying to "prevent anticompetitive practices"
file that in wikipedia section under "oxymoron"
Back in the Dot Com boom, Bill Clinton announced that biotech companies couldn't patent gene technology and biotech's got blown up on that news. What is it with Clinton's and biotech's?
They didn't raise the price .... they decided to be self insured .... and they're setting aside a contingency fund .... that's socially responsible corporate behavior ? Wait a minute .... this looks like political theatre ?
At a minimum... this old dried booger has admitted enough to lose her Secret Clearance... no more run for President. Too bad we have a dictatorship instead of a Constitutional Republic, otherwise we might have a functioning Justice Dept.
Look!!! Over there!!!! A squirrel!!!!
"It also helps to reinforce Clinton's projected image as a "fighter," according to MSNBC."
She's "projecting" the image of fighter. The electorate is "perceiving" the image of "fake, pursuing a scapegoat."
It's good she's campaigning. The more people see her, the less they like her. If she wore a Godzilla costume and devoured supporters at her rallies, she'd be more genuine and likeable.
Moare anticompetitive, moare for me
Did the $500 billion for 5 Syrian rebels .... go into Hillary's slush fund .... or was that $500 million ?
I feel better knowing Hitlery is looking out for us little folks. She really is for the people [sac]
Alternatively they can contribute to her husband's charity and her campaign and she will focus on some other mark.
Martin Shkreli is a DNC stooge. Old news.
Demanding? I'll send a letter to all the law enforcement bureaus DEMANDING that they investigate HER.
She should change her last name to Blythe
And what does Donald Trump have to say about it?
Hillary Clinton doesn't mean a word of it. This statement is designed to to appease the public and they are naturally DUMB enough to believe it. Fuck Hillary Clinton and any fool that believes in her policies. Mrs Clinton is nothing but a power hungry Capitol Hill whore, who is first and foremost totally unprincipled and secondly, she serves the interests of her pay-masters, is a CFR whore, a certified LIAR and will stoop to anything in order to achieve the highest officer in the land. What I find most galling, is the fact Mrs Clinton has an army of sycophants to call upon.
Hillary has 80 campaign workers regularly for lunch in an Iowa town of 10,000. (I know the caterer.) She's loaded
Agree 100%. But she must have had (some type of liquid) dripping between her legs after learning of this new populist opportunity. Fucking disingenuous piece of wall street owned filth.
Apple has a operating marging over 30%. It is time for Apple to reduce prices.
I am immediately penning my letter and sending it off to the USDOJ demanding an explanation as to why Jon Corzine was never prosecuted, why Clinton is not being charged for disseminatting classified information and asking for thier suggestions as well as the SEC's and FBI's on what measures should be implemented to ensure that neither of these situations happen again. After doing that, I am not sure if I will be able to post on ZH any longer as I am certain that the jack booted thugs will come and take me away or I will have a tragic nail gun accident. It has been nice knowing you guys.
What a tool. She is just more proof that native american screwed buffalo...a delusional, narrcissistic, psychopath. (Guess that was sort of redundant)
Hillary sent a letter...... I suppose saying she emailed them wasn't an option
Everything Hillary does is a con, a lie, and a scam.
This is some sort of pharmakabuki and she's in it with Shkreli.
Price gouging? Shocking...I thought only major financial insiders and operators of global cartels were allowed to do that.
If there is on thing on the face of this earth I would NEVER want, it would be Hildabeast doing me a fucking favor by pretending to be outraged by drug prices. Go away pond scum woman.
Since she said she's not even human, probably shouldn't call her a "woman". I suspect she's got a lot of canine DNA, so...
Funny thought considering her platform is medical cost shifts (Obamacare) and electron cartels (Greenenergy).
Time to short pharmaceuticals. I'm sure she is.
As Hitlery becomes desperate to be perceived as a populist candidate, some actual truth may come out in the MSM ... but probably not enough to actually help the people of this world understand their true situation.
"Hillary Clinton Sends Letter To FTC Demanding Review Of Pharma Industry, Turing's "Anticompetitive Practices"";
and says nothing of the link between mass shootings and the anitdepressants the Pharma Industry has created. In other words, 'Pharma industry, you need to make more antidepressants available for less money'.
Speaking of Clinton emails, ZH how did you possibly miss this one?
Smoking gun emails reveal ‘deal in blood’ George Bush and Tony Blair made as they secretly plotted the Iraq War behind closed doors a YEAR before the invasionhttp://www.veteranstoday.com/2015/10/19/377412/
Not good for:
Bush 43
Blair
Powell
Clinton
Who else can we surmise this is not good for? Who else was in attendance at the Crawford Ranch between April 4-7, 2002? What ties to this to 9/11 planning?
Document was classified by Powell in 2002. Not to be declassed via statute until 2022. Declassed under court order in 2014 under Kerry. Powell and Clinton both implicated in coverup.
Where was/is Cheney, Rumsfeld, Ashcroft, Rice, O'Neill, Card, Wolfiwiz, Tenet, Freeh, O'Sullivan, Negroponte, Hagin, Gonzales, Fliescher, Rove, Libby, Hughes, Myers, Shoomaker, Jumper, Clark, Jones on this?
Where was Greenspan?
Where was Daddy Bush?
Who will further squeal on who?
But....only in the USA. TPP will see to that.