Here's the latest from Stewart Lyman from Xconomy. In today's piece, he discusses what BIg Pharma often says in their press releases and what that really should mean to us as readers of this tripe. Here goes without further commentary:
Says: "All forward looking statements are based on the company's current assumptions and expectations and involve risks, uncertainties and other important factors"
Means: "We don't know what will happen so don't sue us if the drug fails in the clinic"
Says: "We don't permit our reps to sell drugs via off-label promotion"
Means: "Dang, we got nailed." or "Off-label drug promotion is free speech and shall not be infringed"
Says: "Our drugs are made in the most modern, up-to-date facilities"
Means: "If this was public housing, people would accuse us of being slumlords"
Says: "We were forced to raise drug prices due to increased costs"
Means: "We hope nobody noticed that our price increase was seven times the rate of inflation"
Says: "These marketing problems were all in the past"
Means: "It'll be much harder to catch us in the future."
Says: "The FDA is just playing politics" or "the FDA didn't understand our data"
Means: "We were praying for a miracle approval" or "we know the drug doesn't work but needed time to inflate the stock price so we could exercise options"
Says: "The deal is worth $650M if the milestones are met"
Means: "We'll be lucky to meet one milestone at a fifth the value" or "Welcome to Fantasy Island"
Says: "Small gifts to doctors do not influence their prescribing patterns"
Means: "Do you think we'd waste the money if this didn't work?"
Says: "We neither admit or deny these charges"
Means: "We are as guilty as heck but will never say so publicly"
Says: "We don't think ghost writing is problematic"
Means: "Most of our publicatins are written by someone not listed on the paper"
Says: "Our stock buy-back program enhances the value of the company for our investors"
Means: "We have no innovative ideas on which to spend the money"
Says: "Any suggestion that we misled the public about the risks and benefits of our drug is a gross misrepresentation of the facts"
Means: "We made a boatload of money while turning a blind eye to the data"
A few of my own.
Says: "We recognize that access to healthcare is a major challenge in many countries"
Means: "We have no intention of lowering prices in developing nations"
Says: "We maintain our belief in the inventiveness of our product"
Means: "We evergreened the living crap out of it and got caught"
Says: "Intellectual property protection is an important aspect of ensuring that innovation is encouraged"
Means: "Protection of our intellectual property and revenue is important to earning my annual bonus"
Says: "We are currently reviewing the notice from the Patent Review Board and evaluating our options"
Means: "We're screwed"
Include more of your own in the comments section, if you so choose.
Posted by Bruce Lehr Aug 7th 2013.