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kpete

(72,013 posts)
Tue Jan 9, 2018, 10:50 AM Jan 2018

MAGA: Pfizer, pocketing a big tax cut from Trump, will end investment in Alzheimer's and Parkinson's

With every passing day, it becomes clearer who’s reaping the benefit of the huge tax cut handed over to American corporations by the Republican-dominated Congress in December.

Spoiler alert: Not workers or customers, but shareholders, especially the rich ones. (Don’t be fooled by those $1,000 bonuses handed out by a few big companies anxious to curry favor with the Trump White House — if they were serious about improving their employees’ lot they’d distribute the money in the form of permanent raises, not a bonus that you can safely bet will be a distant memory by this time next year.)


The big drug company Pfizer seems intent on being a pace-setter in cranking out the benefits of the tax cut to stakeholders who need them the least. In an announcement over the weekend, Pfizer said it was shutting down its research efforts on treatments for Alzheimer’s and Parkinsonism. The company didn’t say how much it was spending on the two conditions, but said about 300 researchers will lose their jobs as it redirects its research and development budget elsewhere.

............

http://www.latimes.com/business/hiltzik/la-fi-hiltzik-pfizer-20180108-story.html?platform=hootsuite

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MAGA: Pfizer, pocketing a big tax cut from Trump, will end investment in Alzheimer's and Parkinson's (Original Post) kpete Jan 2018 OP
Health Care for older generations is on its way to being scuttled unless democratisphere Jan 2018 #1
Kick dalton99a Jan 2018 #2
more profits in treatment/housing/care to extend the dementa/ Parkinson's years as long as posible. Sunlei Jan 2018 #3
This is disheartening to the point of despair... Moostache Jan 2018 #4
No kidding, Moostache. I know exactly how you feel. calimary Jan 2018 #7
Our leadership does nothing to help most Americans. We are on our own. nt Irish_Dem Jan 2018 #5
check out the poverty wage of the Pfizer ceo- bronxiteforever Jan 2018 #6
Pfizer will redirect its research and development elsewhere. justhanginon Jan 2018 #8
Parkinson's and Alzheimers are really hard targets ProfessorPlum Jan 2018 #9
K&R Yo_Mama_Been_Loggin Jan 2018 #10
Welcome to Social Darwinism. roamer65 Jan 2018 #11

democratisphere

(17,235 posts)
1. Health Care for older generations is on its way to being scuttled unless
Tue Jan 9, 2018, 10:57 AM
Jan 2018

a patient has the means or insurance to pay for it.

Sunlei

(22,651 posts)
3. more profits in treatment/housing/care to extend the dementa/ Parkinson's years as long as posible.
Tue Jan 9, 2018, 11:04 AM
Jan 2018

feed/water them enough and keep them from rotting, a human could last 30+ years and generate a huge revenue stream of state/federal funds.

Moostache

(9,897 posts)
4. This is disheartening to the point of despair...
Tue Jan 9, 2018, 11:32 AM
Jan 2018

First, the GOP and their evil minions are attacking science funding and basic research at the NIH and across academia, making the kind of ground-breaking research that is necessary to find cures and treatments more difficult to come up with in the first place.

Then, they provide corporate interests with tax breaks to enrich shareholders while encouraging further erosion of the basis for future drugs and cures. With no basic research and no new treatment or drug research from American companies, the countries that do not suffer from our current myopia will be well positioned to dominate the 21st century and beyond. Our 'leaders' have no grasp of history or appreciation for the facts that are clear to anyone willing to look closely at them.

I want to be free of this dark, deepening depression that has devoured my being since 08 November 2016...I do not know that I will have the inner strength to make it much longer, let alone until the end of this darkest night. I hope so, but hope is a candle in these gale force winds...utterly fragile and in constant peril.

bronxiteforever

(9,287 posts)
6. check out the poverty wage of the Pfizer ceo-
Tue Jan 9, 2018, 01:11 PM
Jan 2018

As Chairman and Chief Executive Officer at PFIZER INC, Ian Read made $16,989,764 in total compensation. Of this total $1,905,250 was received as a salary, $4,000,000 was received as a bonus, $6,628,412 was received in stock options, $3,984,592 was awarded as stock and $471,510 came from other types of compensation. This information is according to proxy statements filed for the 2016 fiscal year.

https://www1.salary.com/I-Read-Salary-Bonus-Stock-Options-for-PFIZER-INC.html

justhanginon

(3,290 posts)
8. Pfizer will redirect its research and development elsewhere.
Tue Jan 9, 2018, 02:51 PM
Jan 2018

I would assume the money now available will go into the corruption pot that they use to pay off the more than willing political whores that we laughingly call congressmen. In turn they will receive favorable legislation and rake in even more money at the expense of the citizens of this country as we pick up the tab.

ProfessorPlum

(11,273 posts)
9. Parkinson's and Alzheimers are really hard targets
Tue Jan 9, 2018, 03:24 PM
Jan 2018

Not only to find disease relevant mechanisms and models, but also including, long, expensive, and often poorly powered clinical trials. This is probably a business decision more than anything from Pfizer. I've been in several research companies that have tried but had to shelve therapies for these two diseases.

What is really necessary for developments in these kinds of areas (like Alzheimers, osteoporosis, new antibiotics (where the return often doesn't justify the development expenses, etc.) are governments contests, challenges, and prizes. These kinds of initiatives work by highlighting a societal need, and setting up an incentive for a company to compete to discover them, with a guaranteed payoff for success.

There are examples of these kinds of incentives in the post war period, most won by Merck. A more recent example is

https://www.nih.gov/news-events/news-releases/federal-prize-competition-seeks-innovative-ideas-combat-antimicrobial-resistance

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