Thursday, January 29, 2009

I Want a New Drug

Pfizer Agrees to Pay $68 Billion for Rival Drug Maker Wyeth

The board of Pfizer, the world’s largest drug maker, agreed to acquire a rival, Wyeth, for $68 billion, the companies announced Monday.
If completed as planned, the transaction would be the biggest merger since AT&T and BellSouth combined in a $70 billion deal in March 2006, according to the research firm Capital IQ.
WTF!? We need to have smaller companies, not more companies that are 'too big to [let] fail.' There's a reason that laws were passed after the Great Depression that (temporarily) put the kibosh on monopolies.

There is a limit on 'economies of scale' and once passed it's just greed. And speaking of greed:
Deluge of layoffs hits U.S. economy

Companies including Home Depot, Caterpillar, Pfizer and Sprint plan to cut nearly 60,000 jobs, adding urgency to the need to agree on a stimulus plan.
Pfizer is laying off workers and yet still has the capital to buy a competitor? Pfuck Pfizer!


Cross posted at VidiotSpeak