Trump Sets Up Pharma Billionaires for Coronavirus Payday

Tom Paine 1949

Diamond Member
Joined
Mar 15, 2020
Messages
2,016
Reaction score
1,644
Points
1,908
Everyone wants safe and effective publicly available vaccines & treatments for Covid-19. Where has the $$$ from Trump’s “Operation Warp Speed” actually gone? Here is what is known about the contracts for the anti-body cocktail “Regeneron” that Trump took and praised, according to one investigative article:

Regeneron’s federally funded Covid-19 treatment, which was used to treat Donald Trump, will likely be unavailable to most patients.

THE DEVELOPMENT OF the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment....

The January contract, of which only a heavily redacted version has been been made public, expanded upon an existing $284 million agreement Regeneron had.... Both agreements lack a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” Since then, Regeneron has entered into yet another shadowy agreement with the federal government that lacks the standard oversight to which federal contracts are usually subjected.... Both Public Citizen and Knowledge Ecology International are suing the Department of Health and Human Services seeking the unredacted contracts with pharmaceutical corporations for coronavirus-related products through Operation Warp Speed.

[Regeneron’s chief officer] Dr. Schleifer has an estimated net worth of $2.4 billion, was the highest paid pharmaceutical executive in the U.S. during 2018 and 2019 ... Schleifer ... has been known to golf with the president at his private Westchester club in New York. Regeneron co-founder and chief scientific officer Yancopoulis was the second most highly paid pharmaceutical executive in those years. And in 2017, when Regeneron received its first federal funding for antibody treatments, Schleifer ranked second to Yancopoulis, who received $268 million in direct compensation — more than triple the pay any pharmaceutical company executive received that year and the most any pharmaceutical executive has made before or since....

Regeneron has committed to selling some of the antibodies to the government, which in turn is obligated to distribute them “to the American people at no cost,” according to the government’s July 6 agreement, that deal applies only to “a fixed number of bulk lots.” After that, the pricing is up to the company...

Trump Sets Up Pharma Billionaires for Coronavirus Payday
 

ChemEngineer

Platinum Member
Joined
Feb 5, 2019
Messages
2,181
Reaction score
1,426
Points
940

Gdjjr

Gold Member
Joined
Oct 25, 2019
Messages
7,161
Reaction score
3,342
Points
260
Location
Texas
Right hand, don't pay attention to the left hand- y'all can refuse to acknowledge that BOTH sides subscribe to the same monetary policy- but, it won't change the facts.


How Long Can the Fed Keep This Time Bomb from Exploding?

Since the outbreak of the coronavirus, the United States has experienced one of the most unprecedented economic interventions in all of its history. Since March and April both the Federal Reserve and the US federal government have injected trillions into the economy in hopes of stabilizing it and reducing unemployment. At

the expense of the public, both institutions have handicapped themselves for the future, and it will be extremely difficult to ever return to a “normalized” policy situation without triggering a larger economic crisis.


On February 11, 2020, Federal Reserve chairman Jerome Powell delivered a semiannual report wherein he laid out the present risks that both the Fed and the federal government face. Some of the risks addressed were low interest rates spurred by the Fed and burdensome debt from the federal government that would limit the ability of both institutions to provide the necessary stability when an economy goes into a downturn. By the next day, the Dow Jones had reached an all-time high of 29,551.42. The rise in equity prices sparked confidence in the market and, for the most part, overlooked the risks that the coronavirus had in store for both the nation and the world.


By March, as concerns over the covid-19 virus spread, many investors began to question the sustainability of profits for businesses as mass lockdowns became a policy implemented throughout the world. On March 11, the World Health Organization (WHO) declared the coronavirus a pandemic, as the world had over 118,000 cases, and on that same day, the United States entered into a bear market as the Dow fell 20 percent from its peak.
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
64,933
Reaction score
14,315
Points
2,290
Everyone wants safe and effective publicly available vaccines & treatments for Covid-19. Where has the $$$ from Trump’s “Operation Warp Speed” actually gone? Here is what is known about the contracts for the anti-body cocktail “Regeneron” that Trump took and praised, according to one investigative article:

Regeneron’s federally funded Covid-19 treatment, which was used to treat Donald Trump, will likely be unavailable to most patients.

THE DEVELOPMENT OF the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment....

The January contract, of which only a heavily redacted version has been been made public, expanded upon an existing $284 million agreement Regeneron had.... Both agreements lack a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” Since then, Regeneron has entered into yet another shadowy agreement with the federal government that lacks the standard oversight to which federal contracts are usually subjected.... Both Public Citizen and Knowledge Ecology International are suing the Department of Health and Human Services seeking the unredacted contracts with pharmaceutical corporations for coronavirus-related products through Operation Warp Speed.

[Regeneron’s chief officer] Dr. Schleifer has an estimated net worth of $2.4 billion, was the highest paid pharmaceutical executive in the U.S. during 2018 and 2019 ... Schleifer ... has been known to golf with the president at his private Westchester club in New York. Regeneron co-founder and chief scientific officer Yancopoulis was the second most highly paid pharmaceutical executive in those years. And in 2017, when Regeneron received its first federal funding for antibody treatments, Schleifer ranked second to Yancopoulis, who received $268 million in direct compensation — more than triple the pay any pharmaceutical company executive received that year and the most any pharmaceutical executive has made before or since....

Regeneron has committed to selling some of the antibodies to the government, which in turn is obligated to distribute them “to the American people at no cost,” according to the government’s July 6 agreement, that deal applies only to “a fixed number of bulk lots.” After that, the pricing is up to the company...

Trump Sets Up Pharma Billionaires for Coronavirus Payday
So it is said we lost about 220,000 Americans to this virus. If you take out the fudge, it's still probably around 120,000 that actually died from it. Now all you're worried about is who's going to make money of saving perhaps hundreds of thousands of lives in the future?

This is what the left has been doing since Trump took office: damned if you do and damned if you don't. I would guess chances are, if an American company creates a vaccine before anybody else thanks to Trump, you TDS people will be the first to bitch about us taxpayers providing all the funds to save people all across the globe.
 
OP
Tom Paine 1949

Tom Paine 1949

Diamond Member
Joined
Mar 15, 2020
Messages
2,016
Reaction score
1,644
Points
1,908
Nobody seems to be interested in the article or its supporting research, just in attacking Democrats and leftists. There is little room for discussion when folks don’t carefully read the article, the available contracts and research, other articles cross linked, or provide specific rebuttals from the company involved or the Administration, or quote other researchers into pharmaceutical contracts. The difficult-to-acquire information gathered here raise serious questions about a private corporation and its CEOs enriching themselves from taxpayer dollars spent on researching this and other drugs — without ordinary oversight or contract commitments to share profits with the government or to keep their drugs affordable or even available at cost.

There are many companies doing equally important research using taxpayer dollars in many other companies (and nations). There are many possible vaccines and experimental treatments. The bosses of those companies may not be golfing partners of the President, might not be billionaires, but their researchers and scientists and products may be equally or even more excellent. Issues raised about big pharma and crony capitalist corruption are legitimate, whether the “Administration” involved is Democratic or Republican.
 
Last edited:

Meister

Diamond Member
Staff member
Moderator
Gold Supporting Member
Joined
Jan 15, 2009
Messages
42,581
Reaction score
15,875
Points
2,250
Location
Conservative part of the Northwest
Nobody seems to be interested in the article or its supporting research, just in attacking Democrats and leftists. There is little room for discussion when folks don’t read carefully the article, the available contracts and research, other articles cross linked, or provide specific rebuttals from the company involved or the Administration, or other researchers into pharmaceutical contracts. The difficult-to-acquire information gathered here raise serious questions about a private corporation and its CEOs enriching themselves from taxpayer dollars spent on researching this and other drugs — without ordinary oversight or contract committals to share profits with the government or to keep their drugs affordable or even available at cost.

There are many companies doing similar important research using taxpayer dollars in many companies (and nations). There are many possible vaccines and experimental treatments. The bosses of those companies may not be golfing partners of the President, might not be billionaires, but their researchers and scientists may be equally or even more excellent. Issues raised about big pharma and crony capitalist corruption are legitimate, whether the “Administration” involved is Democratic or Republican.
Apparently, you don't want to address the second post in your thread, Thomas. :rolleyes-41:
 
OP
Tom Paine 1949

Tom Paine 1949

Diamond Member
Joined
Mar 15, 2020
Messages
2,016
Reaction score
1,644
Points
1,908
Have you asked what the cost of the R&D was? Also, the cost of fast tracking?
The article I provided showed that the U.S.government provided hundreds of millions of dollars for this research. I have found nothing to show that the company provided its own money to produce the experimental treatment, which has already raised its stock value significantly and will certainly enrich its executives extravagantly.. If you have specific information on this matter I would very much appreciate seeing it.
 

gipper

Libertarian/Anarchist
Joined
Jan 8, 2011
Messages
38,500
Reaction score
10,342
Points
1,330
Everyone wants safe and effective publicly available vaccines & treatments for Covid-19. Where has the $$$ from Trump’s “Operation Warp Speed” actually gone? Here is what is known about the contracts for the anti-body cocktail “Regeneron” that Trump took and praised, according to one investigative article:

Regeneron’s federally funded Covid-19 treatment, which was used to treat Donald Trump, will likely be unavailable to most patients.

THE DEVELOPMENT OF the antibody cocktail used to treat President Donald Trump for Covid-19 — which he heralded as a cure for the disease — was funded largely by the U.S. government, yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable. The biopharmaceutical company Regeneron, led by the two highest paid executives in the industry, received hundreds of millions in public funds during the research and development of the antibody therapy, and now stands to make a killing from its potentially lifesaving treatment....

The January contract, of which only a heavily redacted version has been been made public, expanded upon an existing $284 million agreement Regeneron had.... Both agreements lack a standard clause that ensures interventions developed with government funding are available to the public “on reasonable terms.” Since then, Regeneron has entered into yet another shadowy agreement with the federal government that lacks the standard oversight to which federal contracts are usually subjected.... Both Public Citizen and Knowledge Ecology International are suing the Department of Health and Human Services seeking the unredacted contracts with pharmaceutical corporations for coronavirus-related products through Operation Warp Speed.

[Regeneron’s chief officer] Dr. Schleifer has an estimated net worth of $2.4 billion, was the highest paid pharmaceutical executive in the U.S. during 2018 and 2019 ... Schleifer ... has been known to golf with the president at his private Westchester club in New York. Regeneron co-founder and chief scientific officer Yancopoulis was the second most highly paid pharmaceutical executive in those years. And in 2017, when Regeneron received its first federal funding for antibody treatments, Schleifer ranked second to Yancopoulis, who received $268 million in direct compensation — more than triple the pay any pharmaceutical company executive received that year and the most any pharmaceutical executive has made before or since....

Regeneron has committed to selling some of the antibodies to the government, which in turn is obligated to distribute them “to the American people at no cost,” according to the government’s July 6 agreement, that deal applies only to “a fixed number of bulk lots.” After that, the pricing is up to the company...

Trump Sets Up Pharma Billionaires for Coronavirus Payday
More socialism for the ultra wealthy, while the rest of us suffer under crony capitalism.

What a great country! When will Americans wake up?
:cuckoo::cuckoo::uhoh3::uhoh3::uhoh3:
 

Ray From Cleveland

Diamond Member
Joined
Aug 16, 2015
Messages
64,933
Reaction score
14,315
Points
2,290
The article I provided showed that the U.S.government provided hundreds of millions of dollars for this research. I have found nothing to show that the company provided its own money to produce the experimental treatment, which has already raised its stock value significantly and will certainly enrich its executives extravagantly.. If you have specific information on this matter I would very much appreciate seeing it.

 

C_Clayton_Jones

Diamond Member
Joined
Apr 28, 2011
Messages
56,507
Reaction score
14,185
Points
2,180
Location
In a Republic, actually
Nobody seems to be interested in the article or its supporting research, just in attacking Democrats and leftists. There is little room for discussion when folks don’t carefully read the article, the available contracts and research, other articles cross linked, or provide specific rebuttals from the company involved or the Administration, or quote other researchers into pharmaceutical contracts. The difficult-to-acquire information gathered here raise serious questions about a private corporation and its CEOs enriching themselves from taxpayer dollars spent on researching this and other drugs — without ordinary oversight or contract commitments to share profits with the government or to keep their drugs affordable or even available at cost.

There are many companies doing equally important research using taxpayer dollars in many other companies (and nations). There are many possible vaccines and experimental treatments. The bosses of those companies may not be golfing partners of the President, might not be billionaires, but their researchers and scientists and products may be equally or even more excellent. Issues raised about big pharma and crony capitalist corruption are legitimate, whether the “Administration” involved is Democratic or Republican.
“…yet the Trump administration has apparently failed to set any guarantees that the treatment would be affordable.” ibid

That’s likely as far as any Trump supporter read.

Rather than respond to the thread premise, Trump supporters resorted to their usual red herring fallacy by attacking Democrats and ‘leftists.’

You’re not going to get any constructive response from the right because they perceive the thread and linked article as ‘anti-Trump’ – their minds are completely closed.

And they’re certainly not going to participate with any viable solutions to the problem – access to life-saving/-sustaining drugs, access to necessary medical treatment, and access to affordable healthcare in general should not be contingent upon one’s income, or the lack thereof; most conservatives believe it should.

Pursuant to conservative dogma: if one cannot afford a vaccine or treatment for COVID-19, then he goes without.
 

Dogbiscuit

Diamond Member
Joined
Oct 11, 2020
Messages
1,604
Reaction score
2,045
Points
1,903
Nobody seems to be interested in the article or its supporting research, just in attacking Democrats and leftists. There is little room for discussion when folks don’t carefully read the article, the available contracts and research, other articles cross linked, or provide specific rebuttals from the company involved or the Administration, or quote other researchers into pharmaceutical contracts. The difficult-to-acquire information gathered here raise serious questions about a private corporation and its CEOs enriching themselves from taxpayer dollars spent on researching this and other drugs — without ordinary oversight or contract commitments to share profits with the government or to keep their drugs affordable or even available at cost.

There are many companies doing equally important research using taxpayer dollars in many other companies (and nations). There are many possible vaccines and experimental treatments. The bosses of those companies may not be golfing partners of the President, might not be billionaires, but their researchers and scientists and products may be equally or even more excellent. Issues raised about big pharma and crony capitalist corruption are legitimate, whether the “Administration” involved is Democratic or Republican.
I dont know about all the facts that might be in the article.
If I know Trump, he made a deal with one of, if not the biggest, people of an industry, in the world.
He had to throw them a bone of some kind.
Now the way that deal is being reported is a different story.
 

New Topics

Most reactions - Past 7 days

Forum List

Top