Wednesday, August 24, 2005

Good Time to Short Big Pharma

GlaxoSmithKline’s main contribution to the drug problem is Paxil.

A Norwegian study conducted by researchers at the University of Oslo and just released in the BMC Medicine Journal says that the antidepressant Paxil is linked to a higher risk of suicide attempts in adults. This conclusion was based on a review of 16 studies of the GlaxoSmithKline ‘medicine’ in comparison to a placebo.

How can companies successfully market drugs supposedly to treat depression when the main side effect of the drug is suicide? How does the FDA justify allowing these drugs on the market?

Watch out for GlaxoSmithKline’s stock to tumble south toward Merck land. The whole pharmaceutical industry looks like a very dodgy and dangerous place to invest right now. Good time to short Big Pharma in general.

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