King’s Ransom Reversed

April 5, 2012 § Leave a comment

Of the two long grain rices to settle upon kiwi supermarket shelves only one – basmati – suits me. That is to say it is voluminous on the boil, ample in the palate and most digestible in the bodily system. Things I could neither say for the other brand. Nor most definitely welcome to my bodily system .

Not that the waitress at a restaurant could know this.. or that I would tell her.. tho I would ask about – and WAS told affirmatively that they only stocked basmati. “We pay more, but by making more and so using less it comes out a better deal,” yelped an endorsing cook from the kitchen.

Agreed, this being the reason to boil the stuff myself, whereupon I ordered. Then ate. Drove home. Rested. Slept. Worked another day.. and then found myself rather too bound for comfort. Nobody’s company, it was to the shed I went. Guys need do things.. even if it’s only staring out .. to anything about.. cursing all the while the lies folks tell.. along with the pain ransom resulting from them. Consequential you might reasonably say…

Ongoing instruction, however…

Considered context: Counterfeit Drugs

Supposedly good cancer drug from Roche’s Genentech stable, Avastin, was zinged by the FDA in recent times after clinical trials revealed its clinical efficacy little different to placebo. They did not ban it, simply suggested it be available only to those patients/doctors able/willing afford it. Most likely in continuing therapy situations. I say this because a single shot of this drug costs $2400 in a US market worth $2.5bn. Usage in Illinois, California, Texas. And yes, these are the locations seeking alternative supplies to meet not least patient shortfall problems when the FDA made its announcement.

From Turkey they ordered in a product named there Altusan, Roche chemical, different name, okay in Turkey, not approved in the USA. How come..? I’d say more to do with metric in the new dynamic of costs and private practise, amongst which pharmabiz and political parties with the current anti-statist branding irons hot from their forge to embolden a market’s practitioners with. Besides, they spout effusively, this is a free market country and who do these ‘crats fink they are and blah blah..

Tasked to their corporate steady watch the FDA take a close look at the new import. [ Hey, this is America today, globalization and all, aint no tariffs ta knock back let’s say a thalidomide.. disaster! ] Name Altusan, foreign suppliers several. Packaging, vials look okay. But lab tests March 15th showed none of Altusan’s active ingredient, says Shelly Burgess(FDA).

FDA bottom line advisory: “Packaging or vials found in the U.S. that claim to be Roche’s Altuzan with lot number B6021 should be considered counterfeit.” Significantly, she adds, “In the past three months, we’ve notified health care providers about the risk of purchasing unapproved injectable cancer medications from unlicensed sources.”

Insufficient time has passed to discern whether the counterfeit drug has actually been used in the US. Of course, playing the placebo card could make for a time qualifier on efficacy. Even so, at market prices ripoff looks the most appropriate word. Along with practitioners’ reputational risk.

Still, that’s free ( unimpeded and unregulated ) markets for you. Sort of king’s ransom reversed. Tho no darned use at all for what folks need do by way of those criminogenics* Bill Black mentioned last week.

Using the FDA parallel law prof. Eric Posner et al have a pertinent study in respect financial operators which could make traction over coming months. With a bigger take on the topic the NYT’s Gretchen Morgenson

Mentionable this week RNZ’s Patrick O’Mara(?) whose biz slot on midday report today held mention China’s Mr Wen and his call to break-up those big Chinese banks whose funds are illiquid right now. PO hadn’t time to mention, however, that smaller banks, Wen reckons, flow the money for smaller businesses better. And yes, gotta do that in the reoriented “strategic economy” that China is chasing now:—Domestic markets first, exports follow as and when.

Which kind of explained, tho no one was willing talk about it in the media, why Aus/US stocks and secs moved south these past few days. But no way does it adequately explain minister Bill English’s late wording in an otherwise clearly stated radio interview today. Hey Bill, you are good at this y’know. Slower speech than John boy, that’s for sure (and welcome), adds gravitas. Which kiwis need right now.

I’m referring of course to EXPORT-led. ? The buck @ 81¢, China in-bound, Euro austere and a few other things piling for perfect storm.. I think mebbe we try for a 3-ringed circus instead of the one-trick pony.. model šŸ˜‰

Po$itively: I heard how ex-PM, Mrs Shipley, is a Dame these days. Sounds good. Well, she did on RNZ’s reportage of proceedings today. Nice to know the bond is working out for her board etc. Do I recall correctly that she was strong on money laundering back in the 90s..? need of bankings’ oversight etc..?

* Mention this because one of the aspects arising from FCIC comments last week – ‘wealth-taken’ opportunists – along with part privatisations of state-held energy companies – new market opportunity – is the greater possibility of laundering money (or ill-gotten gains) through this process. Which leads me to ask what measures are undertaken to prevent money laundering through these sales?

Yes, I realise this could be by first generation – and fall due the selling agency – but also and for longer term stock holders second, third etc generations sale transfers – presumably by the companies themselves. An immediate concern mebbe the first one since should laundering happen at all then subsequent biz would be thereby tainted.

See you next time round.. meantime I’m over to Lazonick and his corporate take re predators replacing producers.. hands, knees and jawbone burying stuff that it is.. šŸ™‚

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