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Big Pharma to blame for crisisIn 2007, several executives of the parent company of Purdue Pharma, which markets OxyContin, pleaded guilty to misleading doctors, regulators, and patients about the risk of addiction associated with the drug. The company was hit with some $600 million in fines and penalties.Multiple state attorneys general are now taking drug manufacturers – including Purdue Pharma, Johnson & Johnson, Endo Health Solutions, Inc., and their subsidiaries – to court for marketing and distributing their products by "nefarious and deceptive" means.Of course, Big Pharma is treading a well-worn path. This year, new investigations, including by the World Health Organization, showed that major tobacco companies like Philip Morris have continued to use covert and illicit tactics to advance their business interests, at the expense of public health.All of this highlights the fundamental flaw in the argument that large-scale deregulation, such as that advocated by U.S. President Donald Trump, benefits societies. Yes, eliminating regulation can help companies to increase their profits.
Time for a wider boardroom reckoning
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reckoning – it’s time for action
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