Big Pharma spends billions more on executives and stockholders than on R&D

Senate report points to greed and “patent thickets” as key reasons for high prices.

Big Pharma spends billions more on executives and stockholders than on R&D

Enlarge (credit: Senate HELP Committee)

When big pharmaceutical companies are confronted over their exorbitant pricing of prescription drugs in the US, they often retreat to two well-worn arguments: One, that the high drug prices cover costs of researching and developing new drugs, a risky and expensive endeavor, and two, that middle managers—pharmacy benefit managers (PBMs), to be specific—are actually the ones price gouging Americans.

Both of these arguments faced substantial blows in a hearing Thursday held by the Senate Committee on Health, Education, Labor and Pensions, chaired by Sen. Bernie Sanders (I-Vt.). In fact, pharmaceutical companies are spending billions of dollars more on lavish executive compensation, dividends, and stock buyouts than they spend on research and development (R&D) for new drugs, Sanders pointed out. "In other words, these companies are spending more to enrich their own stockholders and CEOs than they are in finding new cures and new treatments," he said.

And, while PBMs certainly contribute to America's uniquely astronomical drug pricing, their profiteering accounts for a small fraction of the massive drug market, Sanders and an expert panelist noted. PBMs work as shadowy middle managers between drugmakers, insurers, and pharmacies, setting drug formularies and consumer prices, and negotiating rebates and discounts behind the scenes. Though PBMs practices contribute to overall costs, they pale compared to pharmaceutical profits.

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Female ex-exec told she lacked “docility and meekness” sues TikTok

TikTok accused of age, sex discrimination in suit blaming Chinese leadership.

Female ex-exec told she lacked “docility and meekness” sues TikTok

Enlarge (credit: ROSLAN RAHMAN / Contributor | AFP)

One of TikTok's senior-most female executives, Katie Ellen Puris, is suing TikTok and its owner ByteDance, alleging wrongful termination based on age and sex discrimination.

In her complaint filed Thursday, Puris accused ByteDance chairman Lidong Zhang of aggressively forcing her out of the company because she "lacked the docility and meekness specifically required of female employees." She also alleged experiencing retaliation after reporting sexual harassment to the company.

Puris joined TikTok in December 2019 as managing director and US head of business marketing. Previously, she'd led global marketing initiatives for Google and Facebook. TikTok appeared to value this experience and promoted her within two months to lead its global business marketing team. In this role, she launched TikTok for Business and meaningfully shaped how businesses interact with the platform.

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200-foot AM radio tower disappears, halting Alabama station broadcast

“There’s wires everywhere, and it’s gone.”

radio, tuner, dial, station, FM, AM, music, sound, numbers, 700, 800, 94, 96

Enlarge (credit: Getty)

A 200-foot AM radio tower has been missing for at least a week, leaving an Alabama radio station in a financial crisis and on a desperate hunt.

As first reported by Memphis' Action News 5, Jasper, Alabama, radio station WJLX 101.5 FM/1240 AM, sent a bush hog crew to maintain the area around the tower on February 2. The tower is behind a poultry plant in a forested area, per The Guardian. Once there, a crew member called station manager Brett Elmore, informing him that the 200-foot structure that CNN says has been there since the '50s had disappeared.

"He said, ‘The tower is gone. There's wires [sic] everywhere, and it's gone,’” Elmore told Action News 5.

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Android’s infamous January 2024 update is fixed and rolling out again

The Google Play System update was pulled for breaking device storage, crashing apps.

Google HQ.

Enlarge / Google HQ. (credit: Getty Images)

We're a third of the way through February, but Android's January 2024 Google Play System update is just now rolling out. The now-infamous update originally rolled out at the beginning of January but was pulled after it started locking users out of their phone's local storage. Apparently, the update has been fixed and is rolling back out to devices. We were able to get it to install this morning.

The first time this update went out, some devices with multiple user accounts or work profiles experienced what Google described as "multiple apps crashing, screenshots not saving, and external storage working inconsistently." Users described phones affected by the issue as "unusable." Google eventually posted instructions for a manual fix on February 1, about two weeks after the update first started rolling out. These instructions were complicated, though, involving a manual process where you had to enable developer mode, download the developer tools, plug in your phone, and type in the right command prompts to delete buggy packages manually. As part of that February 1 post, Google seemed to promise to release an automated fix someday, but it has been nine days now.

Google skipped the December Play System update due to the holiday break, so this "January" update in February is the first Play System update since November. Play System updates, if you aren't aware, are a fairly new Android update format that is separate from the OS-level system and security updates. Google created a new, super-privileged code package called an APEX Module that can house core system components like the Android RunTime or media subsystem. Google distributes these through the Play Store, allowing it to update core Android components directly without needing third-party manufacturers to do any work. It sounds great on paper, provided the updates work.

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City Council Unwittingly Approves Pirate IPTV Scheme and Documents Everything

Mapleton, Utah, is one of the most idyllic cities imaginable. Its crime rate is 80% below average, and its council operates with complete transparency. Public meetings are streamed live on YouTube, and details of every meeting appear on the city’s website. That’s also how we know that the council inexplicably approved a pirate IPTV scheme for residents and local businesses, that would unwittingly render itself an illegal subscription reseller set to profit from them all.

From: TF, for the latest news on copyright battles, piracy and more.

facepalmFrom the very beginning and from every possible angle, this story makes almost no sense. But it will, eventually.

By chance, when trying to track down a document a few weeks ago, a .pdf file with ‘IPTV’ in the description suddenly stood out in Google search results. Interesting things can appear by pure luck but, on first view, the document seemed quite mundane.

Sporting a maple leaf in the top left corner and text on the right mentioning a meeting of Mapleton City Council, deletion was mere moments away. But then the word ‘ACTION’ caught the eye, quickly followed by ‘Xtreme High-Definition IPTV streaming’.

xtreme-iptv1

It transpires that Mapleton is no regular city. Founded in 1850, settled in 1856, and officially incorporated in 1948, it currently boasts a population of around 11,220 people. According to FBI data, just 16 crimes involving violence or threat of violence were recorded in 2022. No murders, no robberies, and it looks absolutely stunning.

Mapleton City Council Loves Mapleton, Records Everything

As far as data is concerned, Mapleton City Council operates with a high level of transparency and appears to keep immaculate records, many of which are published on its website. The city is currently building an all new fiber network promising speeds of up to 2Gbps but, in the meantime, existing internet connections seem to suffice.

According to another of the city’s highly detailed documents, on November 3rd, 2022, Mapleton City staff met to finalize and propose a rate to deliver a “High-definition IPTV subscription service” for all network users. In common with most documents that mention IPTV on the Mapleton City Website, this one mentions ‘Xtreme High-Definition IPTV’ too.

“Mapleton City Administration asked the Mapleton City Network to investigate offering High-definition IPTV streaming service to residential and business users,” the official request for the Council to approve the ‘Xtreme’ service reads.

“As we research the options, it became clear that a High-definition IPTV subscription service would be the best value and the least expensive to deploy. We as staff agree that a streaming subscription service should be deployed to compete with other communications companies within the Mapleton service area.”

iptv prices

So what type of ‘Xtreme IPTV service’ could give local communications companies a run for their money?

Well, if we shorten ‘Xtreme High-Definition IPTV’ we arrive at a more manageable and recognizable name: Xtreme HD IPTV. If we then place a few channels from the proposed Mapleton IPTV service on the left, and channels from what is actually a well-known pirate IPTV service on the right, we get…

…..exactly the same serviceXtreme HD

March 15, 2023: D-Day

Even the most permissive view of events thus far defies explanation. Did the search for a cheap but legal service to entertain city residents simply get out of hand? Is there a weird, Utah-specific internet filter that blocks negative news about illegal IPTV services and streaming sites, but allows other stuff through?

The screenshot below, of a post dated March 15, 2023, was taken from the official Instagram account of the City Council. Based on the possibility that there may have been a huge mistake, or perhaps people have been led to believe certain things that simply aren’t true, we’ve chosen to obscure the identities of the people below.

instagram-mapleton

The relevant sections in red clearly show upcoming events. Since when do people running a city knowingly celebrate the upcoming approval of a massive pirate IPTV reselling operation with an announcement on Instagram?

And if that sounds too ridiculous to be true, how about the existence of a detailed cost analysis? The table below not only attempts to calculate the potential size of the local market, but also predicts huge profit margins after weighing in IPTV-specific factors such as concurrent connections.

iptv-costs

Yet, despite all of the above, there was still a strong urge to uncover any reason that might go at least some way towards explaining why a local authority might find itself in such a crazy position.

This week, we reached out to two key figures on the council with a request for comment, or even a chat to hear why this isn’t such a great idea. At the time of publication, we still hadn’t heard back.

Desperate for any new theories, here’s an obvious one: Is the city and/or its population in dire financial straights? More recent figures may indicate otherwise but in 2021, the median property value in Mapleton was just over $502,000, while median household income was close to $115,000. Just 3% of residents live below the poverty line, which is actually pretty impressive.

But even if 100% of all residents were unable to make ends meet, wouldn’t it be sensible to discuss something like this a little more quietly?

After spending way too much time trying to answer these and similar questions, a long trawl through the Mapleton City YouTube channel effectively answered them all.

Seeing is Believing

On March 15, 2023, Mapleton City Council unanimously approved the implementation of the Xtreme HD IPTV system. They did so based on 16 minutes of testimony describing how it worked and, more importantly, the absence of legal concerns.

The discussion concerning the Xtreme HD proposition begins around the 32-minute mark but from a personal perspective, it’s a very tough watch. The people who gave the project the green light asked questions which mostly headed in the right direction; the information relied upon to reach that decision had only negative value.

The same can’t be said of the video, which may turn out to be priceless. Without it, no sane person would believe something like this could ever be possible. Despite the project receiving official approval (a unanimous vote is audible in the video), hopefully someone managed to pull the plug before launch, or at least fairly soon after.

The public records referenced in this report are available here

From: TF, for the latest news on copyright battles, piracy and more.

ACEMAGIC S1 is now available with choice of Intel N95, N97, or N100 chips (mini PC with an LED status display)

The ACEMAGIC S1 is a small desktop computer with a few unusual features including a small display on the front of the case that can display system information including CPU power consumption and temperature, fan speed, or memory usage. There’s a…

The ACEMAGIC S1 is a small desktop computer with a few unusual features including a small display on the front of the case that can display system information including CPU power consumption and temperature, fan speed, or memory usage. There’s also an RGB light strip on the front of the case for some reason. When […]

The post ACEMAGIC S1 is now available with choice of Intel N95, N97, or N100 chips (mini PC with an LED status display) appeared first on Liliputing.

Over a decade later, climate scientist prevails in libel case

But the case is not entirely over, as he plans to go after the publishers again.

Image of a middle-aged male speaking into a microphone against a dark backdrop.

Enlarge / Climate scientist Michael Mann. (credit: Slaven Vlasic)

This is a story I had sporadically wondered whether I'd ever have the chance to write. Over a decade ago, I covered a lawsuit filed by climate scientist Michael Mann, who finally had enough of being dragged through the mud online. When two authors accused him of fraud and compared his academic position to that of a convicted child molester, he sued for defamation.

Mann was considered a public figure, which makes winning defamation cases extremely challenging. But his case was based on the fact that multiple institutions on two different continents had scrutinized his work and found no hint of scientific malpractice—thus, he argued, that anyone who accused him of fraud was acting with reckless disregard for the truth.

Over the ensuing decade, the case was narrowed, decisions were appealed, and long periods went by without any apparent movement. But recently, amazingly, the case finally went to trial, and a jury rendered a verdict yesterday: Mann is entitled to damages from the writers. Even if you don't care about the case, it's worth reflecting on how much has changed since it was first filed.

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London Underground is testing real-time AI surveillance tools to spot crime

Computer vision system tried to detect crime, weapons, people falling, and fare dodgers.

Commuters wait on the platform as a Central Line tube train arrives at Liverpool Street London Transport Tube Station in 2023.

Enlarge (credit: John Keeble/Getty Images)

Thousands of people using the London Underground had their movements, behavior, and body language watched by AI surveillance software designed to see if they were committing crimes or were in unsafe situations, new documents obtained by WIRED reveal. The machine-learning software was combined with live CCTV footage to try to detect aggressive behavior and guns or knives being brandished, as well as looking for people falling onto Tube tracks or dodging fares.

From October 2022 until the end of September 2023, Transport for London (TfL), which operates the city’s Tube and bus network, tested 11 algorithms to monitor people passing through Willesden Green Tube station, in the northwest of the city. The proof of concept trial is the first time the transport body has combined AI and live video footage to generate alerts that are sent to frontline staff. More than 44,000 alerts were issued during the test, with 19,000 being delivered to station staff in real time.

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Reddit beats film industry again, won’t have to reveal pirates’ IP addresses

Firms wanted seven years’ worth of IP address logs on users who discussed piracy.

The Reddit logo displayed on a smartphone; a laptop is seen in the photo's background.

Enlarge (credit: Getty Images | NurPhoto )

Movie companies have lost a third attempt to unmask Reddit users who posted comments discussing piracy. In an order on Wednesday, the US District Court for the Northern District of California rejected movie copyright holders' demand for seven years' worth of "IP address log information" on six Reddit users.

In a motion to compel that was filed last month, movie companies Voltage Holdings and Screen Media Ventures argued that "Reddit users do not have a recognized privacy interest in their IP addresses." But in Wednesday's ruling, US Magistrate Judge Thomas Hixson said, "The Court finds no reason to believe provision of an IP address is not unmasking subject to First Amendment scrutiny."

Voltage Holdings and Screen Media Ventures previously sued the Internet service provider Frontier Communications, alleging that it is liable for its users' copyright infringement. Seeking evidence for that case, the movie companies subpoenaed Reddit in an attempt to prove that Frontier has no meaningful policy for terminating repeat copyright infringers and that this lack of enforcement drew customers to Frontier's service.

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Report: Sam Altman seeking trillions for AI chip fabrication from UAE, others

WSJ: Audacious $5-$7 trillion investment would aim to expand global AI chip supply.

WASHINGTON, DC - JANUARY 11: OpenAI Chief Executive Officer Sam Altman walks on the House side of the U.S. Capitol on January 11, 2024 in Washington, DC. Meanwhile, House Freedom Caucus members who left a meeting in the Speakers office say that they were talking to the Speaker about abandoning the spending agreement that Johnson announced earlier in the week. (Photo by Kent Nishimura/Getty Images)

Enlarge / OpenAI Chief Executive Officer Sam Altman walks on the House side of the US Capitol on January 11, 2024, in Washington, DC. (Photo by Kent Nishimura/Getty Images) (credit: Getty Images)

On Thursday, The Wall Street Journal reported that OpenAI CEO Sam Altman is in talks with investors to raise as much as $5 trillion to $7 trillion for AI chip manufacturing, according to people familiar with the matter. The funding seeks to address the scarcity of graphics processing units (GPUs) crucial for training and running large language models like those that power ChatGPT, Microsoft Copilot, and Google Gemini.

The high dollar amount reflects the huge amount of capital necessary to spin up new semiconductor manufacturing capability.

To hit these ambitious targets—which are larger than the entire semiconductor industry's current $527 billion global sales combined—Altman has reportedly met with a range of potential investors worldwide, including sovereign wealth funds and government entities, notably the United Arab Emirates, SoftBank CEO Masayoshi Son, and representatives from Taiwan Semiconductor Manufacturing Co. (TSMC).

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