Tag Archives: drugs

Generic drug prices soar up to 8,000%

Generic drugs

Some low-cost generic drugs that have helped restrain health care costs for decades are seeing unexpected price spikes of up to 8,000 percent, prompting a backlash from patients, pharmacists and now Washington lawmakers. A Senate panel met Thursday to scrutinize the recent, unexpected trend among generic medicines, which usually cost 30 to 80 percent less than their branded counterparts. Experts ... Read More »

Major banks under investigation for ties to Mexican drug cartels

Charles Schwab Corp. founder and chairman Chuck Schwab

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab Corp. and Bank of America’s Merrill Lynch brokerage firm because ... Read More »

Big Pharma giant GlaxoSmithKline caught bribing doctors to boost sales

gsk

Britain’s biggest drug company, GlaxoSmithKline, allegedly bribed doctors in Poland using money that was meant to be spent on educating patients, according to new evidence revealed today by the BBC Panorama programme. A GSK whistleblower claims that money put aside to teach patients in Poland about an asthma drug, Seretide, actually went towards paying doctors to prescribe more of the ... Read More »

Whistleblower: HSBC still laundering money for terrorists, drug cartels

HSBC drugs and terrorism financing

Big banks are apparently too big to jail, even when they bankroll terrorists and drug cartels, while regular people fill the prisons in the world’s largest drug population for mostly non-violent drug offences. As a former Anti-Money Laundering Officer at HSBC, Everett Stern was arguably never actually supposed to catch money laundering activity. Instead, with little training but an inclination to ... Read More »

Study: 70 percent of Americans on prescription drugs

Prescription drugs

Researchers find that nearly 70 percent of Americans are on at least one prescription drug, and more than half receive at least two prescriptions. Mayo Clinic researchers report that antibiotics, antidepressants and painkiller opioids are the most common prescriptions given to Americans. Twenty percent of U.S. patients were also found to be on five or more prescription medications. The study ... Read More »

Multinational drug companies hold Greece hostage by denying shipments of medicine; 90% supply reduction

greece pharmacy

In a classic example of an anti-free-market collapse, fifty pharmaceutical companies are now halting supplies of drug medicines to the nation of Greece, causing severe shortages of over 200 popular pharmaceutical medicines there. Pfizer, Roche, GlaxoSmithKline, Sanofi and many other have all reportedly joined in the partial embargo out of a fear that the low-priced drugs sold to Greece would ... Read More »

FDA: Drug companies faked thousands of drug documents

drugs

According to the Food and Drug Administration, a major drug research contractor has been found faking documents and manipulating samples. The firm, Cetero Research, has tested medicines for major drug companies that are now being forced to reevaluate their products in response to warnings issued by US regulators. The news may be from 2010, but is an example of pharma ... Read More »

Australian Customs involved in drug smuggling

Australian customs drugs

Up to 30 Customs officers have been accused of receiving bribes to turn a blind eye to the import of drugs and illegal precursor chemicals through Sydney International Airport. The allegations are believed to follow several months of surveillance by the Australian Federal Police after officers were tipped off about the racket. The Federal Police last night refused to comment ... Read More »

Obama administration considering ways to overturn marijuana legalization in Washington and Colorado

Obama smoking weed

Obama smoking weed as a youngster, but as president he has jailed more people than ever before for marijuana possession New legislation in Washington state went into effect this week that legalizes for the first time in ages the possession of marijuana. Federal law still says otherwise, though, setting up the Justice Department to make some serious determinations. Even as smoking ... Read More »