Pfizer (PFE): Stop Smoking And Go Insane

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By Douglas A. McIntyre Published
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It looks like Pfizer’s (PFE) anti-smoking drug Chantix makes people kick the habit but at the same time can push them toward suicide or depression. It is a hard decision whether patients want to die slowly or fast.

The Institute for Safe Medication Practices wants the warning labels on the drug to be changed, and, is it any wonder? The organization looks at problems with major drugs. According to The Wall Street Journal, in its most recent study the ISMP “found 988 serious incidents linked to Chantix in the U.S. during last year’s fourth quarter.” Pfizer says that the label on the product already states that the drug may have problems, but they are “infrequent” or “rare.” Tell that to the person who tried to kill himself.

The whole mess points to the catastrophe surrounding the drug industry. Big Pharma needs to get new product to market fast. Many of its most reliable money makers are coming “off patent”, which means that generic manufacturers can pump out cheaper versions of the drugs which were so profitable. The large drug companies are pressured by stockholders to keep up earnings, so they fire their sales staffs and push what popular treatments they still have as hard as possible

.The FDA often claims that it does not have the staff to look at every drug as well as it might. A great deal of the research on drugs is funded by drug companies. That seems like a sensible way to make certain that the concoctions are safe

No true believer in capitalism thinks that the drug companies are unaware of what the unintended consequences of using their products are. They just don’t want to tell anyone else.

Douglas A. McIntyre

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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