OK, so here's the latest exemplar of how and why our healthcare process is screwed up. And where a lot of the money goes.
Immunomedics is a New Jersey pharma which has been around since 1982. As of market close today, its market cap was $3.44 Billion. Now, this company has never gotten a drug approved. Let that sink in for a second. Tomorrow was to be the decision day from FDA for its latest attempt to get an approval. Well... FAIL!! A day early and an approval short. Rejected. They released the news after both regular hours and after-hours trading.
I doubt it'll be worth north of $3,000,000,000 tomorrow morning.
It's the Distribution, Stupid
Essays on topics economics: monopolists, oligopolists, and oligarchs aren't better decision-makers for the society just because they's rich and they ain't the gummint.
Infinite granularity yields infinite complexity.
Vaccinated ≠ Not Infectious
$536,800,000 MARF™(party like it's 1829)
-- New York Slammers, so far/2024 [GA and The Feds still to come]
Milton was going on about the money supply, so what I said was everything reminds Milton of the money supply. Everything reminds me of sex, but I try to keep it out of my written work.
-- Robert M. Solow, 1924-2023 [Dr. Hemond noted that he made his fortune in the stock market]
-- New York Slammers, so far/2024 [GA and The Feds still to come]
Milton was going on about the money supply, so what I said was everything reminds Milton of the money supply. Everything reminds me of sex, but I try to keep it out of my written work.
-- Robert M. Solow, 1924-2023 [Dr. Hemond noted that he made his fortune in the stock market]
Covid-19 has killed at least
1,123,836 people (as of 20 March 2023, final update)
Buck {Showalter] has always reminded me of something his father once told him:
"The jobs that are easy don't pay very well."
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Mike Lupica/2023 [and don't qualify them to run anything; sub-GED knuckledraggers take note]
-- Monticello.org [take that, MTG]
-- Marriner Eccles/1951
This week's thought
Investigative reporters are an idiosyncratic breed of journalist. Typically fearless, they are often a source of angina to their editors. Mr. Walsh was no exception. -- Michael S. Rosenwald/2024 [no surprise - I spent a bit of time on Jack Anderson's staff]
About Me
Who I Am
Left wing economist since before it was fashionable
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