Amgen’s Q4 2022 Lobby Effort — And All Three, Now Compared From 2021, To 2022: Amgen’s Down Slightly; Merck’s Way Up.

This closes out this series. [See the other two below.] If I get ambitious this week, on a slow news day, I’ll make a graphic of the full year 2022 spends, compared to fully year 2021. We shall see.

But obviously, Merck spent significantly more in Q4 2022, than it did in Q4 2021. Amgen was modestly lower, same periods.

And, as was true with Pfizer (and Merck), Amgen paid only insignificant amounts (less than 5% of its net income) of US federal corporate income tax, as compared to its billions and billions of global net profits, from life-saving (and very high priced) drugs and bio-science cures. And it — along with German Merck (no relation) just announced large layoffs that impact US teams, while still being wildly profitable (over $7 billion last year) on an economic basis — from selling these drugs (with US payors regularly bearing the highest overall net prices in the world). These top-prices are paid in the main by US-based insurers, and yes US-private pay consumers. That just seems… as I often say… inequitable.

In any event, here is what all Amgen is bending lots of Congressional ears about:

…▲ Issues related to drug pricing reform; Public law 117-1769 Inflation Reduction Act

▲ HR 2617 Consolidated Appropriations Act of 2023:

▲ issues related to cardiovascular disease
▲ Issues related to FTC
▲ FDA issues (Food and Drug Omnibus Reforms Act)
▲ Issues related to Pharmacy Benefit Manger transparency
▲ Issues related to clinical trial diversity

▲ S1435 affordable prescriptions for patients act; H.R.2873 Affordable Prescriptions for Patients Through Promoting Competition Act; H.R. 2884 Affordable Prescriptions for Patients Through Improvements to Patent Litigation Act; Biosimilars reimbursement issues, no specific bill; Supply Chain Issues, no specific bill; Issues related to biodefense issues, S3799 PREVENT Pandemics Act; Issues related to cardiovascular disease awareness, S. 3018/ HR 3173 Improving Seniors Timely Access to Care Act; Issues related to 340B; H.R. 5801 HELP Copays Act; Issues related to patient affordability issues, including copay cards, copay accumulators, National Benefit Payment Parameters; HR 8588 Fair Care Act, 340B hospital reporting; HR 4390 Protect 340B Act….

▲ Public law 117-1769 Inflation Reduction Act; HR 2617 Consolidated Appropriations Act of 2023; Issues related to drug pricing reform and Medicare Part D redesign; S. 1943 and H.R. 3517, Issues related to DXA scans, osteoporosis; issues related to cardiovascular disease awareness; Issues related to ESRD; Issues related to asthma and self-administered drug list; Reimbursement for biologics/biosimilars; Issues related to discarded drugs….

▲ Issues related to corporate and international tax, including regarding Public Law 115-97, Tax Cuts and Jobs Act; Issues related to Puerto Rico; Issues related to OECD negotiations on the taxation of global income….

▲ S.1435 Affordable Prescriptions for Patients Act; H.R.2873 Affordable Prescriptions for Patients Through Promoting Competition Act; H.R. 2884 Affordable Prescriptions for Patients Through Improvements to Patent Litigation Act; S 2891 Restore the America Invents Act; S. 2774 – Pride in Patent Ownership Act; S. 4704 — Patent Examination and Quality Improvement Act of 2022; S. 4417 – Patent Trial and Appeal Board Reform Act of 2022; S. 4430 — Interagency Patent Coordination and Improvement Act of 2022; FTC related issues; Issues related to the Patent Act; Issues related to march-in/Bayh Dole, WTO/TRIPS waiver, no specific bill….

Sure. This is very common — in several US industrial groups (oil and gas; investment banking, and certainly tech and telecom): making vast profits from (primarily) US consumers, then laying mostly US (admittedly, higher wage) workers off… while still paying very small amounts in US corporate income taxes, on an overall basis — booking all income into tax havens like Ireland, and Swiss holdcos, as well as various island jurisdictions. . . like Puerto Rico. But just because it is common… that does not make it… right.

Out — to watch a six year old girls’ basketball game (mostly, a game of “dodge-ball”, actually — they are still learning the rules, and very few want to be responsible for handling the rock). Hilarious!

नमस्ते

Ken Paxton, Texas AG — Settles For $3.3 Million (Paying Texas Taxpayers’ Funds!)… For HIS Corruption.

Here’s the way the regular GOP in Texas has run, for decades — and is now run — under Gov. Abbott. [This guy is Gov. Abbott’s right hand, and official… chief law officer of the Courts of Texas.]

The time-line: Lie about your corrupt bribery schemes, and when whistleblowers in your own office report it — attack THEM.

Then stall for three to five years.

Then, on pain of nearly losing your law license (in state disciplinary proceedings)… agree to pay Texas’ own state taxpayer dollars (for your personal wrongdoing)… to the tune of $3.3 million — and just… issue an apology?!

D A M N.

Voters in Texas sure must be gullible… and/or stupid. Here’s the bit:

…Texas Attorney General Ken Paxton has agreed to apologize and pay $3.3 million in taxpayer money to four former staffers who accused him of corruption in 2020, igniting an ongoing FBI investigation of the three-term Republican.

Under terms of a preliminary lawsuit settlement filed Friday, Paxton made no admission of wrongdoing to accusations of bribery and abuse of office, which he has denied for years and called politically motivated.

But Paxton did commit to making a remarkable public apology toward some of his formerly trusted advisers whom he fired or forced out after they reported him to the FBI. He called them “rogue employees” after they accused Paxton of misusing his office to help one of his campaign contributors, who also employed a woman with whom the attorney general acknowledged having an extramarital affair….

“Attorney General Ken Paxton accepts that plaintiffs acted in a manner that they thought was right and apologizes for referring to them as ‘rogue employees,'” the final settlement must state, according to court records.

In all, eight members of Paxton’s senior staff joined in the extraordinary revolt in 2020 and either resigned or were fired. The settlement is with four of them who sued under Texas’ whistleblower law….

Charming. Out, laughing at Hinderaker’s praise of Texas — as a state that works well under GOP leadership, last night.

Hinderaker’s FL v. NY State Budgets: Let’s Compare!

We’ve long known that Hinderaker only measures humans’ worth in terms of dollars spent or dollars saved.

Once again tonight, he makes that plain.

His thesis is that Florida spends less money on human services (by far) than New York — so (in his imaginings, at least) Florida is a “better” state than New York.

But by spending half as much on public health / Medicare / Medicaid… Florida kills more via poor health outcomes than New York, also by a wide margin.

Educational proficiency / attainment (at least an undergraduate degree by age 25) in FL is well below NY. [NY also is well ahead on proportion of population having completed high school by age 21.]

NY pays a lot to remove snow each year (no such need in FL), and FL gets almost exclusively federal FEMA money for the odd Hurricane or tornado strike — so that too is excluded from John’s “winner” state numbers.

But do look at my other metrics, at right. Despite having roughly equal total populations, overall — Florida has incarcerated DOUBLE the number of people (at 95,000, compared to 43,000), in all of New York. DeSantis uses them as prison industrial complex nearly free labor too.

I return to my starting point: Hinderaker’s soul is a dead, withered thing — he measured humans by what they cost to keep alive; or what he saves… by letting them die.

Charming. Florida, John? Keep it. I’ll never visit — haven’t since 1998. Won’t — until DeSantis is run out of politics.

Hinderaker… Is A Sad Sack, 100% Of Time… For Good Reason.

Tonight, Hinderaker — still butt-sore that after about 40 months, Durham’s special counsel investigation ended up finding nothing — and losing the two small fry cases he charged… suddenly thinks that some (unidentified, but sinister) Democratic National Committee interest MUST control the current special counsel looking into indicting Tangerine.

I guess he doesn’t understand what the word… “independent” means. Answers to no one. Has his own budget, almost unlimited — to follow the evidence.

Still not satisfied, though he and Andrew McCarthy run a game of counter-intel, suggesting that it actually hurts Democratic 2024 chances if Tangerine is indicted, or tried — or even better… in jail by the time the GOP sits down to pick a nominee in Milwaukee. [Nah — he never meant to give earnest, if concern-trolly, advice to anyone.]

Charming — he only wants what’s best for the Democrats.

In point of fact, he knows… that even his vaunted DeSantis cannot carry independent / center GOP voters in larger volumes — by most measures. He knows this because of DeSantis’ hard-right abortion stance.

He cannot carry suburban Republican women — now that it is clear that in the privacy of the voting booth, away from hubby’s prying eyes… these women are firmly pro-choice voters.

That is the central lesson of the 2022 mid-terms.

In fact, what Hinderaker needs most… is a chaos candidate to emerge on the Democratic side.

That is the frothy far right’s only hope. Because he is right — insofar as he knows Tangerine can’t win — and he secretly knows all his “pro-life” hard righters (Kristi Noem included here, Greg Abbott too)… cannot win in any urban area. So once again, it comes down to the GOP having no credible way to appeal to a middle of the road America. The whole party has sold out — to lunatics. Look at MTG / She-anderthal’s, BoBo’s And George Santos’ shameful, proto-human shouting performances — at the SOTU. And do look, closely. They are the new core of the Republican Party.

In sum — John concedes tonight. His party cannot win, with or without Trump.

But Hinderkaer’ll try and scorch some more Earth before he retreats to his KKK festooned man-cave.

Lovely.

From The European Space Agency, A Very Odd Bit Of Planetissimals’ Orbital/Collision Physics…

So — the masthead image below, and the one at right — is an artist’s rendering (for the European Space Agency, or ESA) of data from its CHEOPS mission. The ring shown there. . . shouldn’t exist. In a few decades, it should have become a “shepherded” moonlet — coalesced to a small body inside the so-called “Roche Limit”. A much tighter orbit. But it likely has remained a tiny ringed world for over a thousand years — perhaps hundreds of thousands.

Perhaps it is an oddity of low temperatures; but perhaps it is evidence of a physics we as yet do not understand, in deeper space. If this was a ring around Saturn, due to its proportional distance — it would be very bright in the night sky — many times the diameter of Saturn itself. Do go read it all, and thereby update your now-outdated high school level understanding of low gravity orbital physics. And maybe help solve this. . . mystery:

…During a break from looking at planets around other stars, ESA’s CHaracterising ExOPlanet Satellite (Cheops) mission has observed a dwarf planet in our own Solar System and made a decisive contribution to the discovery of a dense ring of material around it.

The dwarf planet is known as Quaoar. The presence of a ring at a distance of almost seven and a half times the radius of Quaoar, opens up a mystery for astronomers to solve: why has this material not coalesced into a small moon?

Quaoar is one of a collection of small, distant worlds known as trans-Neptunian objects (TNOs). Roughly 3000 are known. As the name suggests, TNOs are found in the outer reaches of the Solar System, beyond the orbit of planet Neptune. The largest of the TNOs are Pluto and Eris. With an estimated radius of 555 km, Quaoar ranks around number seven on the size list, and is orbited by a small moon called Weywot, roughly 80 km in radius….

The Roche Limit

Any celestial object with an appreciable gravitational field will have a limit within which an approaching celestial object will be pulled to pieces. This is known as the Roche limit. Dense ring systems are expected to exist inside of the Roche limit, which is the case for Saturn, Chariklo and Haumea.

“So, what is so intriguing about this discovery around Quaoar is that the ring of material is much farther out than the Roche limit,” says Giovanni Bruno, INAF’s Astrophysical Observatory of Catania, Italy.

This is a mystery because according to conventional thinking, rings beyond the Roche limit will coalesce into a small moon within just a few decades. “As a result of our observations, the classical notion that dense rings survive only inside the Roche limit of a planetary body must be thoroughly revised,” says Giovanni….

[And the geekiest part of it, from the underlying science journal’s paper:]

Up to now, all known dense rings were located close enough to their parent bodies, being inside the Roche limit, where tidal forces prevent material with reasonable densities from aggregating into a satellite. Here we report observations of an inhomogeneous ring around the trans-Neptunian body (50000) Quaoar. This trans-Neptunian object has an estimated radius of 555 km and possesses a roughly 80-km satellite (Weywot) that orbits at 24 Quaoar radii. The detected ring orbits at 7.4 radii from the central body, which is well outside Quaoar’s classical Roche limit, thus indicating that this limit does not always determine where ring material can survive.

Our local collisional simulations show that elastic collisions, based on laboratory experiments, can maintain a ring far away from the body. Moreover, Quaoar’s ring orbits close to the 1/3 spin–orbit resonance with Quaoar, a property shared by Chariklo’s and Haumea’s rings, suggesting that this resonance plays a key role in ring confinement for small bodies….

Indeed. So somewhere, out there in the night sky, perhaps hundreds of millions of light-years from Earth, there may very well be a Saturn like body, in that system’s night sky which is itself not very bright — but its ring system… could fill up a third of the night sky, much brighter and well-defined than our Milky Way appears to be, on clear, cold mountain nights. It might make nights there… only marginally darker than… days.

And sentient beings may be pondering, right now, on that planet — why so many other Saturn like planets have such tightly bound, nearby ring systems. Indeed, indeed. Whoosh! Now you know.

नमस्ते

Hayward And DeSantis — Twins… As Far Right Grifters.

Because Hayward today gloated about the “honor”(?!) of being hosted (via his connection to Claremont Inst.) by Florida’s sitting governor… I will just take a second to show what a fake he is.

Steve calls him the real deal — and by that… he means… a solid brownshirt.

In point of fact, despite his bluster about ending Disney’s special status in Reedy Creek, the bill he just signed… gives most of what he claimed to be taking away, BACK TO Disney.

The tax breaks and self-governing for zoning return to Disney. And this is because (as my imaged page indicates) Disney likely said if it was forced to go to litigation, it would win EVERYTHING back, as the tax district charter is crystal clear — in its favor, per the clear eyed NYT reporting:

…The abolishment of the district — set for June 1 — would require taxpayers in two counties to pick up the tab for Disney World services like fire protection, policing and road maintenance. Under the old setup, Disney paid for those costs. The district also carried roughly $1 billion in debt, which would be transferred to the counties….

[Oops — try again!] This time, Disney would be allowed to keep the special tax district and almost all its perks, including the ability to issue tax-exempt bonds and approve development plans without scrutiny from certain local regulators. But Disney would no longer be able to appoint the five members of the tax district’s board. Florida’s governor would get to do that….

And so, DeSantis has just tucked tail, and run — in silence. [His “tax board” nominees must also honor the original revenue bond charters, from the 1960s — and cannot change taxation, until the $1 billion in bonds are paid in full. And even then, Disney may at its pleasure issue more debt — so long as people will buy it. And even AFTER all that, this board won’t have the stones… to try to squeeze blood from that turnip. The jobs alone it would cost… will be a non-starter, politically.]

He won’t admit it — but he is a pure fake — a grifter. Just like Steve. Takes game — to recognize… game.

Out.

I Think The Panel Will Ultimately Decide That This WAS Covered; Not An “Act of War”: Re Merck’s NotPetya Malware Infection Of 2017

We covered this at length in real time, about six years ago now. And it certainly cost over a billion for Merck to effectively remediate it, and restore full and secured service on its networks. It did look to have been launched by actors affiliated with Russian interests, but that was never proved — and shipping companies were likely the primary targets, not the pharma giant (nor the food company, Mondelēz). Both were likely just in the collateral damage path.

In a correctly reasoned trial court opinion, the judge ruled that Merck was covered by its business interruption insurance policy for most of the damages. But the insurers have appealed, saying this was an act of war, and thus is excluded under decades old policy language. Two problems (at least): (i) there is no state of war between any nation (even remotely implicated) and the US then, or right now; and (ii) the damage essentially all took place on US-based computers (over 80% of the total). Inside a secure, peaceful bucolic corporate campus. Nothing like an “act of war” — by any official government or sovereign power.

In any event, here is that most recent appeal of a loss by insurers story — and a bit:

…The costly NotPetya cyberattack, which the U.S. blamed on Russia, should be considered a “cyber nuclear attack,” insurers argued as they urged judges to overturn a legal win by Merck & Co. in a dispute that could have broad ramifications for business insurance.

Merck, which had an estimated $1.4 billion in losses after NotPetya invaded its computer systems in 2017, suffered the collateral damage of a warlike act not covered by insurance, lawyers for a group of carriers told judges Wednesday in a state appeals court in Trenton, N.J.

“NotPetya was massive,” said Philip C. Silverberg, a lawyer representing several of Merck’s insurers. “It was a virtual cyber nuclear attack.”

The legal dispute between the Rahway, N.J.-based pharmaceutical company and its insurers centers on what is known as a war exclusion, a relatively common clause in many policies that says insurers don’t have to pay out if the loss traces back to warlike hostilities. Even the home and auto insurance policies of many Americans deny coverage if a foreign power bombs their dwelling or vehicle, a provision that insurers include to protect themselves from the runaway losses that a wide-scale conflict could bring….

The insurers appealed after a lower court judge sided with Merck in 2021. That judge found that based on the plain meaning of the policy language, the exclusion didn’t apply. Groups representing businesses of all kinds, from hospitals to manufacturers to restaurants, have come forward to back Merck, arguing that they depend on having reliable coverage….

Chicago-based Mondelez International Inc. sued insurer Zurich American Insurance in 2018 over NotPetya costs that the snack maker said surpassed $100 million, but that case ended in a settlement. Details of that agreement weren’t disclosed….

This will be interesting, and of course we will report the decision, when handed down.

But I expect we will hear that Merck was covered. Onward, into the sunshine….

Smiling, on a Friday when we will see Martin Shkreli’s defense of the FTC’s assertion that he has violated his life-time ban by trying to start something he calls “Druglike“. How droll.

नमस्ते

[U] Hinderaker Blows Smoke — To Hide Russian-Connected Political Payola…

So… Hinderaker whines tonight, in truth, not because Democrats/progressives in general, and Rachel Maddow in particular — are willing to wage principled wars… but because those principles have trumped the cash that many GOP hard righters, like John, were paid (and continue to be paid) through oligarch channels pushing Putin’s agenda and talking points.

Yep — he’s just annoyed that increasingly, Russian money can’t blunt the real will of the people. Real people who vote on principles, first last and always.

Updated, at 8 am EST: Oh. And John was (again) a blithering idiot on Australian Tee-Vee overnight, claiming a non- US focused Disney ad… is indoctrination, for CRT. Sadly, Hinderaker doesn’t have any idea about what CRT is… and the ad… isn’t it, in any event.

Just more racists’ fear mongering, there.

Out.

What Did Pfizer Lobby About In Q4 2022? Hint: It Was NOT To Get J. O’Keefe Fired From Project Veritas… Sheesh!


Sorry — I couldn’t resist that. Many far right conspiracy theorists have it that Pfizer runs a shadow government in the US, and has pressured the board of directors of silly little Project Veritas to let him go. [I won’t link the story, as I don’t want to give any air to such nonsense — other than to mock it.]

Me? I think his abuse of his staff members, contractors, people he perceives as opponents in (and out of) court, and journalists… finally caught up with him.

In any event — here was what all Pfizer spent on in Q4 2022… (and yes, in my opinion, PV did a libelous hit piece on the company):

…Drug Pricing; Support of Biosimilars; Out-of-Pocket Costs; Rebate Reform; Vaccine Infrastructure/HR 3656 Excise Tax — S.3087; Antimicrobial Resistance/HR 3932/PASTEUR Act; COVID Relief Package/Appropriations; PDUFA….

Medicare Part D support for access to treatments for obesity; Coverage Gap; Rebate Reform; Out-of-Pocket Costs; Government Negotiation in Medicare….

Comprehensive Corporate Tax Reform; International Tax Reform; OECD Profit Allocation; U.S. Manufacturing Credits; Build Back Better Act; Minimum Tax….

NAFTA/USMCA; Foreign Market Access issues (including IPR)
International Supply Chain/Buy America – harmonize international drug manufacturing standards.; Global Access to Medicines….

TRIPS Waiver; General IP Issues; Bayh-Dole March-In Rights….

But, before I go, as we noted two days ago, now — what is true about Pfizer is that it had almost $330 billion — with a “B” — in nearly entirely untaxed income, sitting overseas… awaiting a vehicle to bring it home to the US, and/or pay down debt with it. But since then, Pfizer has cut 10,000 jobs — and paid nearly no US federal corporate income tax (only $71 million last year, on over $22 billion in net income, or less than a one per cent rate). Yikes.

Finally, just to (again!) dismiss one other frothy far right nonsense claim: no, we will not press release DHS and CIA and military “means and methods”, related to that intrepid “red” balloon — but you may be assured that its signals were jammed, from the moment it reached Alaska’s shores, to the moment it splashed into the Atlantic off the shore of Myrtle Beach. So, it really doesn’t matter that it HAD communications monitoring gear onboard. China did tell the truth when it said it had “lost control” of the balloon, and that happened because we… jammed its signals / comms.

Sheesh. This is not a Sputnik moment. Now I’ll hush.

नमस्ते

“Clean Up, In Aisle PV!” The Chief Instigator, At Project Veritas Is Likely To Be Fired By The Board… HILARIOUS.

Welp. It could not happen to a nicer guy, given that Johnson and Hinderaker originally expressed (muck-raker) jealousy about the guy — then came around, to champion him (almost incessantly), as he filed stupid strike suits against journalists for factual reporting about him, and the supposed 501(c)(3) called “Project Veritas”.

His name is James O’Keefe — and he is now… soon to be unemployed. Lovely. Oh. And I should add he is now suing an admitted male porno-video maker — and former employee, who acted as a video-editor for PV. There, O’Keefe’s claim is that the video editor is defaming him and the organization, by broadcasting on YouTube about what kind of a manager O’Keefe is, and was. The claim is that this violates an “arbitration only” NDA he made the man sign, to stay employed. Very droll.

Trivial, in the grand scheme of things… but truly… Hilarious.