Local whistleblower to get piece of Pfizer's $2.3 billion fine

This man is a true hero.
Nice that some still exist in this day and age.

Now this is the kind of individual that exudes the type charachter we need in government positions.

And some people would rather have the profit-addicted corporations involved in the Health Industrial Complex, like Pfizer continue to control their own health care!

Folks need to turn off Rush, Beck, Hanninity, et al - read stories like this, think real hard and hopefully grow a brain.

I'm not holding out hope, since it is a lot easier for folks to remain ignorant and hateful, unfortunately.

2.3 billion, damn. How much is the company worth?

The Old Laughing Lady wrote:

And some people would rather have the profit-addicted corporations involved in the Health Industrial Complex, like Pfizer continue to control their own health care!
Folks need to turn off Rush, Beck, Hanninity, et al - read stories like this, think real hard and hopefully grow a brain.
I'm not holding out hope, since it is a lot easier for folks to remain ignorant and hateful, unfortunately.

Ignorant is putting people like Nancy Pelosi in charge of healthcare. Ignorant is believing politicians like Barney Frank that just said he hoped the healthcare reform would lead to single payer. They all want single payer, including obama but are hiding from it. If single payer is better than what we have now, why can't dems argue the merits of it instead of hiding from it. Look how they started medicare and what it has turned into.

Why did this happen? Why can't America stay up on all of the research and development with out all the scandal?

The Old Laughing Lady wrote:

And some people would rather have the profit-addicted corporations involved in the Health Industrial Complex, like Pfizer continue to control their own health care!
Folks need to turn off Rush, Beck, Hanninity, et al - read stories like this, think real hard and hopefully grow a brain.
I'm not holding out hope, since it is a lot easier for folks to remain ignorant and hateful, unfortunately.

My thoughts exactly. We're trusting corrupt companies who stand to make a profit with our health. No thanks.

Jon H wrote:

2.3 billion, damn. How much is the company worth?

roughly 109 Billion...

Seriously wrote:

<quoted text>
My thoughts exactly. We're trusting corrupt companies who stand to make a profit with our health. No thanks.

Good point, the no thanks part that is. You do not have to buy Phizers products or any other phama company for that matter. We have free choice and can go to Pelosi pharma inc for meds the next time you are sick. One question for the libs, why did the libs on the supreme court kick old lady Kelo out of her house and turn it over to Phizer ?

The Old Laughing Lady wrote:

And some people would rather have the profit-addicted corporations involved in the Health Industrial Complex, like Pfizer continue to control their own health care!
Folks need to turn off Rush, Beck, Hanninity, et al - read stories like this, think real hard and hopefully grow a brain.
I'm not holding out hope, since it is a lot easier for folks to remain ignorant and hateful, unfortunately.

True. Many people under 65 are one job loss, one health crisis away from total financial ruin due to our health system and its perverted business model. In the health industries and GOP eyes, there's a good solution to the problem - don't get old, don't get sick, and don't think of losing your job. This solution, however, does let the health industry continue to make obscene profits while keeping the populace in line. The alternative solution which the GOP fails to mention is to become a senator or representative. Then your health insurance worries are over.

Pfizer can handle this from pocket change. The question is if this fine will even be effective to change behavior and protect patients.

Bob wrote:

<quoted text>
Good point, the no thanks part that is. You do not have to buy Phizers products or any other phama company for that matter. We have free choice and can go to Pelosi pharma inc for meds the next time you are sick. One question for the libs, why did the libs on the supreme court kick old lady Kelo out of her house and turn it over to Phizer ?

You obviously don't know much about the pharmaceutical industry. True, there are often many alternatives and generics for a given prescription...but not always. Companies hold patents for 10 years (I think, may be longer) and until that time is up you must get the drug from them. So you're basically saying people shouldn't get sick, or that taking medication is a choice? What's the alternative? Dying?

As as Conservative I am on the fence in regards to health care reform due to situations like this. While I don't feel cozy about the government running health care (most government programs are broke and mismanaged) I also have a problem with the money insurance companies and drug makers make. Especially insurance companies who are the step between me and my doctor, and who decide what treatment I can take and what treatment I can't. How is that any better? I depend on an Underwriter for the insurance company to tell me if my treatment is approved or not. And his main objective is to maximize profits for his company. I ask again...how is this any better?

"There's a wide range in the ethics in physicians -- from no ethics to extremely ethical, and that's the way the industry is," Demott said.

While everyone is frothing over big-pharma, this little tidbit is glossed over. This kind of stuff can't exist without Drs playing along, yet where is the AMA and public condemnation?

Is Pfizer wrong? Yes. Should they be punished for it? Of course. But to think that removing all profit from healthcare will solve all our problems is naive. Profits drive innovation, folks. You think all those fancy MRIs, 64-slice CT scanners, new hospitals, Drs racking up $250k in medical school bills, and huge efforts to modernize payers comes from just good ole fashioned values? Not at all.

I don't take my ideas from Hannity or Beck or Limbaugh. Nor do I put any stock in MSNBC, CNN, and K Street lawyers who masquerade as bloviating politicians.

You're just looking at the pharmceutical industry here. There's also the insurance industry and the health care provider (hospital & LTC) industries. Demott mentioned the high bonuses for certain promotions. Are you aware it's not unheard of for health insurance salespeople to make more than the doctors who actually treat patients. Still, government is not the answer other than to pass laws to open health care and insurance up to full competition. Keeping insurance regulated by the states causes these semi-monopolies (oligopolies) which keeps rates high. Open it up like life insurance and rates will become cheaper.

Matt wrote:

As as Conservative I am on the fence in regards to health care reform due to situations like this. While I don't feel cozy about the government running health care (most government programs are broke and mismanaged) I also have a problem with the money insurance companies and drug makers make. Especially insurance companies who are the step between me and my doctor, and who decide what treatment I can take and what treatment I can't. How is that any better? I depend on an Underwriter for the insurance company to tell me if my treatment is approved or not. And his main objective is to maximize profits for his company. I ask again...how is this any better?

I will say the one advantage that public healthcare has over private is that if things are not going well, we can "throw the bums out" because there is some semblance of accountability throug the ballot box. No, it's not perfect but the only people big health companies are accountable to are their stockholders. There isn't barely any competition and thus no reason to innovate or try harder.

Sad to say, but Pfizer just got "caught." Basically all pharmaceutical companies do the same thing. As for generics, as "Seriously" wrote, all medicines do not have a generic; i.e. Plavix, so you are "stuck" with the original med until a generic comes along. Sad, but true, many of these meds can be bought from Canadian Pharmacies at much lower prices too.

Name the doctors that cashed in on this scandal at the expense of their patients......

This won't effect the stock.....so the stockholders really don't care....they will still cash in..........

This further reinforces the point that no one cares to cure people. There is no MONEY when you cure them of their ailments. Cash is king and always will be. The only person you have to depend on is YOU.

Seriously wrote:

<quoted text>
You obviously don't know much about the pharmaceutical industry. True, there are often many alternatives and generics for a given prescription...but not always. Companies hold patents for 10 years (I think, may be longer) and until that time is up you must get the drug from them. So you're basically saying people shouldn't get sick, or that taking medication is a choice? What's the alternative? Dying?

I know enough to know that Big Pharma is constantly bashed as greedy but people do not consider how much money it costs to develope a new drug. After the drug is developed, they have to aggressively market the drug to recover money before the other companies can make the drug. How many new drugs have come out of Cuba.

[QUOTE who="uh-huh But to think that removing all profit from healthcare will solve all our problems is naive. Profits drive innovation, folks. You think all those fancy MRIs, 64-slice CT scanners, new hospitals, Drs racking up $250k in medical school bills, and huge efforts to modernize payers comes from just good ole fashioned values? Not at all.
[/QUOTE]

That's a good point. Tighter controls are needed, though.

What I don't like about Obama's plan is that it would be a hybrid system...both government controlled and private. When that happens both tend to suffer due to a lack of funding. You have to go full social so the government can manage it and be fully funded, or continue private and establish some tight controls.