MBAs At Work

After the explosion of disgust aimed at the hedge fund “genius” who bought the rights to an off-patent drug selling for $13 a pill and promptly raised the price to $750 a pill, attention turned to others who have been following the same strategy, albeit more discreetly.

The implosion of an outfit called Valeant Pharmaceuticals resulted. Here’s a link to a piece describing the oh-so-typical rise and fall of Valeant. It is the same story – Wall Street thuggery maximizing profit extraction in the short term regardless of moral or ethical calculation or the longer term survival of the business. Yes, that’s MBAs at work.

Both comments and trackbacks are currently closed.
%d bloggers like this: