“In April 2018, a Goldman Sachs analyst named Salveen Richter published a research report for the bank’s biotech investor clients titled The Genome Revolution. The opening question of the report, posed seriously and on behalf of investors holding pharmaceutical equity, was whether curing patients was a sustainable business model (emphasis mine).
The report explained the analytical concern with reference to specific evidence. Gilead Sciences had developed a hepatitis C treatment that cured over 90% of patients, and US sales had peaked at $12.5 billion in 2015 before collapsing to under $4 billion by 2018 — not because the drug stopped working but because the available pool of treatable patients had been exhausted. Cured patients had stopped paying. The same year the Goldman report appeared, GlaxoSmithKline divested its entire pipeline of one-time curative treatments for rare diseases, and the reason given in the company’s own filings was commercial: single-intervention therapies do not generate recurring revenue. Goldman’s analyst, looking at this evidence, asked the question its biotech clients needed answered.
That investor question is the framework on which modern medicine has been built. It explains why MS, type 2 diabetes, depression, hypertension, and most autoimmune conditions are described to patients as incurable and progressive even when the longitudinal data on most of these conditions show stability or improvement in the majority of patients, and even when documented reversals exist for several of them. It explains why Chronic Care Management codes generate monthly reimbursement for any condition expected to last twelve months or until death, and why the diagnostic categories that trigger those codes have multiplied to over seventy thousand. It explains why the FDA receives 45% of its budget from the companies it regulates, why two-thirds of medical school department chairs hold financial relationships with pharmaceutical companies, why approximately forty percent of journal articles are ghostwritten by industry, and why the United States now spends $4 trillion annually on healthcare while seventy-six percent of adults live with at least one chronic condition. What appears to be a healthcare system that has accumulated failures is actually a wealth-extraction system that uses healthcare as its medium, and which is functioning as designed.
An excerpt from another article, this one entitled “How Modern Medicine Was Built to Extract Wealth from Sickness” by Unbecoming. There are insufficient words to describe my contempt for these people and those who help them to continue their fraud against patients.
“In April 2018, a Goldman Sachs analyst named Salveen Richter published a research report for the bank’s biotech investor clients titled The Genome Revolution. The opening question of the report, posed seriously and on behalf of investors holding pharmaceutical equity, was whether curing patients was a sustainable business model (emphasis mine).
The report explained the analytical concern with reference to specific evidence. Gilead Sciences had developed a hepatitis C treatment that cured over 90% of patients, and US sales had peaked at $12.5 billion in 2015 before collapsing to under $4 billion by 2018 — not because the drug stopped working but because the available pool of treatable patients had been exhausted. Cured patients had stopped paying. The same year the Goldman report appeared, GlaxoSmithKline divested its entire pipeline of one-time curative treatments for rare diseases, and the reason given in the company’s own filings was commercial: single-intervention therapies do not generate recurring revenue. Goldman’s analyst, looking at this evidence, asked the question its biotech clients needed answered.
That investor question is the framework on which modern medicine has been built. It explains why MS, type 2 diabetes, depression, hypertension, and most autoimmune conditions are described to patients as incurable and progressive even when the longitudinal data on most of these conditions show stability or improvement in the majority of patients, and even when documented reversals exist for several of them. It explains why Chronic Care Management codes generate monthly reimbursement for any condition expected to last twelve months or until death, and why the diagnostic categories that trigger those codes have multiplied to over seventy thousand. It explains why the FDA receives 45% of its budget from the companies it regulates, why two-thirds of medical school department chairs hold financial relationships with pharmaceutical companies, why approximately forty percent of journal articles are ghostwritten by industry, and why the United States now spends $4 trillion annually on healthcare while seventy-six percent of adults live with at least one chronic condition. What appears to be a healthcare system that has accumulated failures is actually a wealth-extraction system that uses healthcare as its medium, and which is functioning as designed.
Ping
Can you post the name of the publication? sounds as though something I’d like to subscribe to.