Our healthcare system is broken, a fact nobody would have disputed in precovid days. Regulatory capture is a reality, and the pharmaceutical industry is fraught with examples. Yet we trusted private-public partnerships to find an optimal solution to a global pandemic, assuming a crisis would bring out the best in historically corrupt institutions.
Article by Liam Cosgrove fromMises.
Here is a brief list of less-than-savory behavior demonstrated by our titans of healthcare:
- Pfizer and Johnson & Johnson plead guilty to “misbranding with the intent to defraud or mislead” and paying “kickbacks to health care providers to induce them to prescribe [their] drugs,”resulting in fines of$2.3 billionin 2009 and$2.2 billionin 2013, respectively.
- Pfizersettled another lawsuitfor “manipulating studies” and “suppressing negative findings” just a few years later.
- Modernahas never developed an approved drug,yet one of their board members wasplaced…
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