Bronte Capital fund manager John Hempton takes to his blog Monday to excoriate Galena Biopharma (GALE) for marketing its fentanyl-based painkiller Abstral with free samples.
Hempton's blog post, titled, " Get your opiates for free: Capitalism meets the Zombie Apocalypse" is a must read. Here's a sample:
Galena's hot new product is a sublingual version of an old drug. The marketing ( on their website) argues this drug is really fast. To quote: "Patients preferred Abstral for speed". However to give it that extra marketing pizazz they are giving it away. Here is the pitch - which I believe as a matter of policy should be criminalized.* [I note that tobacco companies are not allowed to give free samples of cigarettes - and it is curious that same does not apply here.] The advert has an irony of its own. It shows a new-age style woman completely blissed out (with a smiling kid) and the slogan "time better spent." We have US corporations doing hippy-alternative-lifestyle drug marketing for drugs that are especially effective in turning you into a zombie. Capitalism meets the zombie apocalypse.It is as if Tim Leary was reincarnated as a cynical capitalist going for the mega-dollars.
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