Q Treepers, by nature, are curious people. We have members with broad experience in various disciplines within our group, and yet, we’re old/wise enough to defer to others in their specialty. Good thing we’re all blessed with an inordinate amount of common sense. We’re also, normally, about 4-6 weeks ahead of the MSM……. Today, we’re looking out on the horizon and what do we see as a potential problem in the next month or so? You may see beautiful mountains and rivers, the scenery of West Virginia.
Yes, we’re fortunate at Q Tree to have those members who can help us with technical medical info. For me, I’m good at counting things, medicine is not my wheelhouse….. but I sure can count money and square footage. I’m approaching the plateau of the COVID-19 Learning Curve when it comes to a virus/therapeutics/vaccines/bats and bioweapons, but when a China virus solution which costs trillions of taxpayer dollars, the hair stands up on the back of my neck and my eyebrows start to twitch. I can’t help it. We’re gonna need more information.
For the time being, let us set-aside the 2+4 trillion for the Senate bill, and let’s focus on the virus itself. The USA and world economies will not get back to normal until we have SOME kind of treatment. We need to alleviate the fear, remove a few of the unknown variables. Hydroxychloroquine + ZPack seems to be the easiest treatment for COVID-19. The drug cocktail is receiving a LOT of attention, both good and bad, depending on your politics. We know Bayer donated 3 million doses, Teva donated 6 million, and Novartis donated 130 million, but the USA will need more, and the world would need billions of doses. Okay, where are the meds coming from and who is paying for them? We need to know who we are paying, right? We certainly don’t want to send USD to China!
On my Q Tree horizon, I see 1,000,000 sq.ft. factory under roof, 23 acres, in Morgantown, WV. It’s been the home of Mylan Pharmaceuticals since 1965. Yet, we detect a strange smell, the stench of a dead fish….. or a big fat rat, maybe it’s a swamp rat. We need more information. Let’s dig deeper. Shall we?
Mylan Pharma/Labs is enormous and linked to WVU, a large university medical system in Morgantown, WV.
Mylan is/was #396 on the Fortune 500 and largely makes generics. TODAY, Mylan Labs announced, reported by FOX BUSINESS, they released the proprietary licensing on the generic for Hydroxychloroquine so any pharma can gear up and make the drugs during a National Emergency. Do you suppose the USA is expecting a Malaria outbreak? Gee whiz, wonder if it has something to do with that treatment for CCP Virus the President has been talking about….. you know the one……. where the media assumes Trump is crazy/dangerous/may kill people? Why would Mylan make such an announcement?
Crisis = Opportunity = Money
Of course, Mylan Pharma announced March 19, 2020: (That’s a week ago. Did you see MSNBC reporters interviewing any execs at Mylan?)
….. restarted production of its hydroxychloroquine sulfate tablets at its West Virginia manufacturing facility as a potential treatment for COVID-19, the disease caused by the new coronavirus. The company plans to have product available by mid-April and thinks it can ramp up to 50 million tablets, which could treat more than 1.5 million people. (Imagine our surprise, but this is good news, right?)
Chloroquine and hydroxychloroquine, a less toxic metabolite of chloroquine, are antiviral medications that are approved to treat malaria. Because it’s less toxic and has anti-inflammatory properties, hydroxychloroquine is also approved to treat a pair of auto-immune disorders, lupus erythematosus and rheumatoid arthritis.
An article published in the journal Cell Research in February showed that chloroquine inhibited the 2019-nCoV coronavirus as well as Gilead Sciences‘ (NASDAQ:GILD) remdesivir in an experiment testing how well the virus infects cells grown in a laboratory. Gilead is running a late-stage clinical trial of remdesivir as a COVID-19 treatment, but since it hasn’t been approved for any diseases, remdesivir isn’t as widely available as chloroquine and hydroxychloroquine. (Hmmmm, so…… Mylan Labs knows enough about the “Trump treatment” to go into full production, asap? But the media tells us it’s a dumb idea, right?)https://www.fool.com/investing/2020/03/19/mylan-ramping-up-production-of-hydroxychloroquine.aspx
Mylan Labs may sound familiar to Q Treepers…….. maybe?
Gosh……….she’s cute. Wait a minute……. She looks familiar…… Oh yes, that’s Heather Bresch, the CEO of Mylan Labs, the daughter of West Virginia Senator Joe Manchin. Heather went to a local high school and WVU for a degree in Poli Sci and International Relations. She started as a clerk, typing labels at Mylan and rose to CEO…. her daddy helped her get a job in 1992. Strange, in an entire Google page of hundreds of images, I can’t seem to find a picture of the two of them together. https://en.wikipedia.org/wiki/Heather_Bresch
Heather lied about having an MBA, falsifying her resume. Mini-scandal in 2007 – WVU gave her the degree although she only finished 28/46 hrs required. But in 2008, professors on the panel who voted to grant Heather an MBA, had to retire under vote of no-confidence, and WVU rescinded her degree. Heather never lost her job. In the world of big pharma, sometimes it’s better to understand politics – rather than science and medicine. And Heather is reallllllllly good when it comes to understanding politics. From her Wikipedia page:
- From 2002 to 2005, Bresch served as Mylan’s director of government relations. She contributed to the development of the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, which created Medicare Part D, a prescription-drug benefit. (good idea but added to the deficit terribly)
- Bresch persuaded several of Mylan’s competitors to support what became the Generic Drug User Fee Act, which she proposed to lawmakers in 2010. Under the law the generics industry would pay the FDA fees of $300 million to get their drugs approved, and in return the FDA would inspect foreign drug manufacturing facilities at the same rate as U.S-based facilities (Single-handedly responsible for filling the coffers of the FDA)
- Bresch was appointed president of Mylan in 2009
- Bresch’s appointment as chief executive officer (CEO) was announced in 2011, and she officially took the position in January 2012.
- One of 18 female CEOs of a Fortune 500 company, and first female of a pharma.
- The Obama Administration loved her: After seeing how few female candidates were available for positions that require a background in science and math, she became more interested in promoting math and science education among young girls.
- Bresch continued advocating for more regulation of the pharmaceutical industry by the Food and Drug Administration (FDA).
- She was named one of Fortune magazine’s “50 Most Powerful Women In Business” in 2014.
How does one become President of a major pharma in 2009, when they lied on their resume in 2007, and caused a scandal at WVU? Gosh, I couldn’t do that, but my daddy is not Joe Manchin. Does it sound a little suspicious to you?
And then, Mylan Pharma left the USA and no longer pays taxes here. They left for the Netherlands.
Also in 2014, Bresch and Mylan announced a $5.3 billion acquisition of Abbott Laboratories as part of a corporate tax inversion plan to re-organize the company in the Netherlands and move its domicile to a country with lower taxes. Bresch said it was a difficult choice to make, but it had to be done to maintain competitiveness against pharmaceutical manufacturers that had already executed similar inversion strategies. The company completed the complex tax inversion in February 2015. The inversion—which formally resulted in the creation of a new company, Mylan N.V., with 78% of its shares held by former Mylan Inc. shareholders and 22% of its shared held by Abbott Labs shareholders—was expected to immediately drop Mylan’s U.S. corporate tax rate to 21% (from 24%) in the first year “and into the high teens over the next three to five years.” The New York Times said there was something “disconcerting” about a company that benefits from large government contracts renouncing their citizenship for tax benefits.https://en.wikipedia.org/wiki/Heather_Bresch
With a Maximum Corp Tax rate of 21% after Trump’s Tax cuts, one would think Heather would bring back Mylan to the USA, right? Has she? ………… not yet. Heather had other problems. In 2016, Mylan was sued by 40 states Attys General for price fixing. It was an alleged conspiracy with Teva of Israel, which was seeking to acquire Mylan. https://www.bizjournals.com/pittsburgh/blog/the-pulse/2015/06/teva-mylans-morgantown-plant-stays-after.html
The price-fixing controversy was settled just in time for the EPIPEN disaster to come to the forefront. Heather didn’t resign under this PR disaster either.
Mylan acquired the 50yr old right to Epipen in years prior, but the product only had sales of $200 million. Heather came up with an idea. Read what Heather did to boost her stock price.
the company also successfully lobbied the FDA to broaden the label to include risk of anaphylaxis and in parallel, successfully lobbied Congress to generate legislation making EpiPens available in schools and in public places like defibrillators are, and hired the same people that Medtronic had worked with on defibrillator legislation to do so. From 2007 to 2016, Mylan also increased the price of EpiPens by 461 percent, from around $100 for a package of two pens to around $600. By the first half of 2015, Mylan had an 85% market share of such devices in the U.S., and in that year sales reached around $1.5B and accounted for 40% of Mylan’s profit.
Wait, let’s read that part again.…………. You mean….. We didn’t need defibrillators in schools and community centers until Medtronic lobbyists created the legislation to mandate it? Yep, that’s right.
And Heather Bresch followed the same model as Medtronic, hired the same lobbyists, and made Epi-Pens MANDATORY, then they increased the price of the Epipens from $100/two pack to $600/two-pack. Yep, that’s right. And Mylan pays taxes on the profits in Netherlands……. not the USA.
That’s what happened. Throughout the whole Epi-Pen controversy, parents screaming about the increase in price of Epi-Pens because they had to buy them to send their kids back to school, Heather never lost her job. She did agree to make a “generic” which was only $300/two-pack….. which is still much higher than original price before Mylan acquired the rights to sell the product. The controversy flooded the news:
Heather has done very well for herself. She’s been able to lobby the FDA to work on behalf of Mylan. She schmoozed both the Bush and Obama Administrations. She shipped an American company to the Netherlands (but she felt badly about it…..) so the USA no longer receives tax dollars……. the taxpayer just pays for the meds. And Heather? She kept her job despite lying on a resume and ripping off American parents. She’s profited handsomely. Proxy filings show that from 2007 to 2015, Bresch’s compensation rose from $2,453,456 to $18,931,068, a 671% increase in pay.
As CEO, Heather makes a lot more than Daddy does as a Senator. I’m guessing Christmas dinner is held at Heather’s house. Whaddaya think? In the swamp of Dems taking care of their kids, Heather got a much better deal than Hunter Biden. Joe Manchin’s influence as Governor and a US Senator helped his daughter handsomely……….. or was it Heather’s husband?
Jeffrey J Bresch is an attorney with Jones Day.
Wut? It’s true. Heather is one connected lady.
And now, Heather is going to make Hydroxychloroquine again……… for a global pandemic. Mylan used to make about 70% of the global supply. The USA used to give it away to Africa to prevent Malaria. Did you know Mylan’s stock price was down 27% last year, during one of the biggest bull markets in history? https://www.fool.com/investing/2020/01/25/is-mylan-stock-a-buy.aspx Guess Mylan needs to boost revenue?
Of course, it could all be a series of coincidences.
- We have a SARS-2.0 unleashed on the world with some evidence Hydroxychloroquine worked from 2005, but no one from WHO suggested we start using Hydroxychloroquine in Wuhan right away? https://www.unboundmedicine.com/medline/citation/16115318/Chloroquine_is_a_potent_inhibitor_of_SARS_coronavirus_infection_and_spread_
- BUT, then China did, and ordered a plant in China to begin manufacture of Hydroxychloroquine on February 6th. Is that right? Bahrain used Hydroxychloroquine when they had their first COVID-19 patient on February 26th. That was a month ago. https://www.thestar.com.my/news/world/2020/03/25/covid-19-bahrain-one-of-the-first-in-the-world-to-use-hydroxychloroquine-for-treatment
- And no MSM news about the potential treatment came to the USA until March?
- And AFTER we lose 10 trillion in the stock market, the President started talking about Hydroxychloroquine……… media loses their minds………
- and this guy raises his hand and says, “Hey, let me call my little girl. She can make make some Hydroxychloroquine for us all.”
So many coincidences……. We have so many questions.