“He has proof that drug companies paid bribes to other drug companies?”
Yes, which apparently was not difficult as the practice is not illegal. Should be though. Another favorite tactic of the big drug companies is to have their own generic version in waiting for those who won’t be bribed. For the short term they put it on the market for a very low price, low enough that the generic company knows it can’t match because they need to recover their set-up costs. Then once the targeted company has been discouraged from producing the drug, they start jacking up the price again.
He also covers shenanigans by Fannie Mae, Congressional perks, overcharges on student loans, tobacco companies...lots of stuff. Worth buying or hitting the library to find.
Yes, which apparently was not difficult as the practice is not illegal. Should be though.
Bribe: money or favor given or promised in order to influence the judgment or conduct of a person in a position of trust
I didn't realize generic drug companies were in a position of trust. So, they pay a generic company to not make a generic version of their drug? Do they pay every generic drug company?
Another favorite tactic of the big drug companies is to have their own generic version in waiting for those who won’t be bribed.
Technically, if they make it, it's not a generic.
For the short term they put it on the market for a very low price, low enough that the generic company knows it can’t match because they need to recover their set-up costs.
If you think the setup cost for a generic is expensive, you should look into the costs to come up with an original drug.
Then once the targeted company has been discouraged from producing the drug, they start jacking up the price again.
At which point, the generic company could profitably start production.