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Originally Posted by Pairadocs
Disclosure, I have held Pfizer stock for years, actually sold it, and all my pharma stocks BEFORE Covid. In my opinion it is not that Fox, or any other source gives opinions one way or the other (BIG distinction between and among "news reporters", and "commentators", so make sure you are not mixing up the two.) But more important, I think the various excesses of ALL the pharma companies ( if you think back you can probably bring them to mind, price increases as much at 2000% in some cases) has caused a CUMULATIVE effect on everyone, not just the "news commentators". Drug companies exist to make money, for those of us who invest in their company. As many positives as the capitalist system has, there still must be an element of "conscience". I'm sure you also remember the many past incidents of big pharma companies "dumping" ineffective treatments and medications on third world countries. It's not pretty, it's not "fair", but in the end, it all goes to the depth of integrity of the individuals involved. Most USA coal mine tragedies were eventually traced to human GREED. That might turn out to be the "root" of this latest rail tragedy too ? Be it brakes, or bearings, it may end up just another calculated money saving "risk" ! ? All this tends to "cause" the "bad mouthing" of companies like Pfizer. Also, right or wrong, the CEO is not a well liked personality, should not make a difference, but it does.
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Well said. Big Pharma (and medical equipment companies) make huge profits, unconscionable profits, but they provide products that keep us alive, so we benefit. Meanwhile, all those profits get paid out to investors, and I’m an investor, through mutual funds. So I rail against prices that put money in my pocket. It’s corporate greed, yes, but I don’t feel at all greedy. It’s weird. However, a lot of the greed works because of lobbyists who get in to see our legislators, both blue and red, who receive “donations” in exchange for votes. The legislators do what is good for the company profits rather than what is good for the people. Oh, wait! I’m the company! And I’m also the people! Legislation to rein in the drug companies helps me the people and hurts me the company. But if I sold my shares in greedy companies, I would pay the same to them but not get part of my money back through profits. What are we to do? Invest in companies that price their products to make a maximum of 10% profit on every item?