FASTEN YOUR SEATBELT FOR A STOCK MARKET CRASH—PHARMA'S BEEN FLOGGING SUBPRIME JABS

Get ready for a return to 2007/8

Is this a joke?

Not a joke, so much as a well-educated guess.

Without wishing to sound immodest, I know more than most how badly the pharmaceutical system is broken, and it bears uncanny resemblance to the great financial crash of 2007/8.

At that time, the industry lost sight of the fundamentals of financial prudence when selling products to customers. It sold products that were not fit-for-purpose, which in turn hurt many of its customers very badly.

Sales people where richly rewarded for selling their wares, irrespective of the particular financial circumstances of the buyers. Many here will know more about this than me, especially if they suffered from the fallout. My aim here is to draw the analogy.

The analogy with the pharmaceutical system

The financial crash came totally out of the blue. Only with hindsight did the various stakeholder players work it out. Then it was chaos and a huge uphill struggle to correct course.

It is likely to be the same for this broken pharmaceutical system …