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Old April 22nd, 2018, 09:52 AM   #1
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Goldman Sachs says curing disease is bad for business!

First, after reading endless drivel about the evils of communism and socialism posted in one thread after another in the Political Ideologies Forums, I want to ask why nobody has thought of setting up a Capitalist forum so that us critics of capitalism can do some analysis of the system conventional wisdom takes for granted and never wants examined.

And, here's a classic example of why 'letting the market decide' is a very bad idea:
Goldman Sachs Asks ‘Is Curing Patients A Sustainable Business Model?’ « CBS New York
Goldman Sachs Asks ?Is Curing Patients A Sustainable Business Model?? « CBS New York
Quote:
April 12, 2018 at 3:23 pm
(CBS Local) — Investment banking giant Goldman Sachs is reportedly asking some very cold questions about the healthcare industry and whether it’s a good business move to cure diseases.

In an April 10 financial report titled “The Genome Revolution,” company analysts allegedly posed the question “is curing patients a sustainable business model?” The report broke down the pros and cons of new gene therapy treatments being worked on by biotech companies. Turning the search for medical remedies into a numbers game, analyst Salveen Richter called potential “one shot cures” a bad business decision that will hurt a company’s bottom line.

“While this proposition carries tremendous value for patients and society, it could represent a challenge for genome medicine developers looking for sustained cash flow,” Richter said, via Yahoo Finance.

Goldman researchers pointed to pharmaceutical company Gilead Sciences, which developed a treatment for hepatitis C, as an example of the financial impact treating diseases can have on profits. “In the case of infectious diseases such as hepatitis C, curing existing patients also decreases the number of carriers able to transmit the virus to new patients,” the memo argued.

Gilead Sciences’ 90 percent cure rate of hepatitis C will reportedly send its sales plunging from $12.5 billion in 2015 to less than $4 billion this year. The Goldman Sachs report allegedly suggests that biotech firms move to developing treatments for conditions with larger patient pools such as spinal muscular atrophy and hemophilia.

Richter and Goldman Sachs have not commented on the report.
Got that? The investment banking analysts have figured out that curing diseases does not show as much profit potential as treating chronic diseases...and having patients lingering on for months and years before death!

It's all about the bottom line, and these analysts' logic is sound by the rules of capitalism and profitability regardless of how inhumane or evil it ends up being!

Come to think of it, I've heard more than a few critics of the medical system declare that there is a strong correlation between going to the doctor and getting prescriptions and treatments for ailments and diseases with poor health and early death. The secret to a long, healthy life is healthy habits and avoiding the medical system as much as possible. So, I suspect that this sort of thinking presented by a GS analyst has already been a standard part of modern western medicine, and tells us more about why we already get more treatments but no cures for so many common lifestyle diseases like cancer and heart disease.

We should have expected this long ago, since drug manufacturers have historically shown little interest in curing the diseases that afflict the majority of people in the world...considered too poor to be profitable, while the ailments...regardless of how rare,that afflict the rich also, are the subjects of research.
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