Monday, March 09, 2009

How long before big Pharma companies have their hands out for more?

Today's announcement that Merck will buy Schering-Plough just marked another notch in the belt of bad news for not only the economy, but for drug development and healthcare worldwide. Pharma company failures, unlike the banking industry, not only have the capacity to wreak havoc on the economy with the job losses but also brings with it the threat of negative impact to drug supply and effective monopolies that impede instead of advance development of new therapies and cost containment of those treatments. The sheer size and industry control of so few large companies is also likely to blunt any attempt to control this industry worldwide (seriously, when a penalty of $1.5 Billion dollars for regulatory infractions is just seen as the cost of doing business, companies are way too big for the good of anyone but senior management). It's time for the government to refuse to approve these mega-mergers.

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