Moon of Alabama Brecht quote
June 14, 2021

Corruption Is Profitable. But Does It Have To Be This Profitable?

Aduhlem, a drug that is supposed to slow Alzheimer's effects, had failed to show efficacy in two trials. It showed some reduction of plaques in the brain which may or may not be significant.

Ten of the eleven advisors of the Federal Drug Administration voted "no" when asked if there was enough evidence that the drug is useful. One voted "uncertain". Last week the FDA approved the drug and claimed that the plaques reduction effect is somewhat meaningful.

Three of the advisors resigned.

The cost per patient per year for the drug will be some $56,000. There are some 6 million people in the U.S. with Alzheimer's. Medicare and Medicaid, which will have to pay for the drug because it is FDA approved, will have to bear the costs. The company which makes the drug, Biogen, will gain ginormous profits from it. As will physicians who prescribe the drug, administer the infusions and bill 6% of the drug's price for it.

The above is a portrait of a deeply corrupt system in which all incentives are set in the wrong direction.

Now, corruption in national medical systems is not unusual and can be found all over the world. But what I find astonishing with the U.S. system is how little money companies like Biogen actually have to pay to get deals done that will make them billions.

The man who pushed for the FDA approval was no other than President Joe Biden. As the American Conservative, linked below, writes:

Less than two weeks prior to the approval, President Joe Biden said that “if we don’t do something about Alzheimer’s in America… every single [hospital bed] will be occupied in the next 15 years with an Alzheimer’s patient.” Guess which 2020 candidate was the largest recipient of campaign funds by a large margin from Biogen and affiliated parties? Joe Biden, with $76,241.

How cheap is that?

Within the next few years Biogen will make a million times more money than it paid to Joe Biden's campaign. Couldn't he have asked for 10%, 1% or an already cheap 0.01%? It would still have been a great deal for the company. But Biden is so downright cheap that he sold out for 0.000001% of Biogen's gain.

What a lowlife.

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Posted by b on June 14, 2021 at 15:12 UTC | Permalink

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I think the cake has been cut. With the completion of the TAPI pipeline, US military security is no longer needed & will be shifted over to the new Taliban government. I would expect China will end up harvesting the bulk of the lithium. Not sure how the opium spoils will be divided, but rest assured the guys on the top floor will not walk away from a multi-billion $ income stream.

Posted by: william smith | Jun 22 2021 15:03 utc | 101

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