I decided to look up the manufacturers of Demerol, the drug
which is said to have helped Michael Jackson end up dead at the age
of 50. Here are some names that come up under that and
identical drug manufacturers of Demerol:
Abbott Laboratories (Public, NYSE:ABT)
Hospira, Inc. (Public, NYSE:HSP)
Sanofi-Aventis SA (ADR) (Public, NYSE:SNY)
Eli Lilly & Co. (Public, NYSE:LLY)
AstraZeneca plc (ADR) (Public, NYSE:AZN)
Roche Holding Ltd. (ADR) (Public, OTC:RHHBY)
Akorn, Inc. (Public, NASDAQ:AKRX)
I've always felt a little dirty about investing in certain
companies and big biotechnology companies like these are on top of
that list. For example, today, on the first full day after
Michael Jackson's death, of the above seven companies listed who
produce Demerol, three either pulled drugs off the market today due
to dangers or have a new rumor swirling around that a drug is
killing people. Sanofi-Aventis, for example pulled its pain
killer Di-Antalvic due to warnings from a European regulatory
agency. Roche said it will stop selling its acne drug,
Accutane, which brought on suicides and a series of lawsuits.
Also, analysts raised safety concerns about another Sanofi-Aventis'
drug, Lantus, which is for diabetics.
It's just another day in the stock market. The news that
these manufacturers may have somehow contributed to Michael
Jackson's death went entirely unnoticed, mostly because it will not
impact revenues or earnings for these companies. Yet, in a
capitalist society where we demand less regulations and more
freedom, we ought to be voting with our dollars in our investment
accounts. Of course, we are not. We give our stock
market responsibilities to money managers who are only interested
in the bottom line. Then, we even complain about too many
regulations.
Regardless of whether or not Michael Jackson's death impacts you
in any way, it is important to acknowledge that while many people,
like Michael Jackson himself, may be opposed to the use of illegal
drugs, these same people tend to be indifferent about our legal
drug pushers, whose interest is the bottom line, above all
else. These same people enable the biotechnology companies to
get away with creating a massive distinction between the dangers of
legal and illegal drugs, bright colorful commercials versus images
of jail and police.
Be warned future investors. If we are to advance as a
better society, these distinctions will need to be blurred.
That would not be positive news for the value of many of these
biotechnology companies. That's of course assuming we do
advance as a society.