Who here thinks drug companies (pharmaceuticals) are altruistic...

[NNadir]

66. Google is your friend. Here's a list of 31 pharmaceutical companies in danger of bankruptcy in 2020

Pharma companies in trouble.

I have had professional interactions with three immediately on the list in the last three years; I am working on two projects with one that is under the control of banks via bankruptcy court and have been working with one innovator on the list for six years. Scientists in one of them are among my very good friends.

I have had meetings with at least ten of these companies, maybe a few more than that.

I know the pain.

Several of these companies were hugely profitable only a few years ago.

The stock of the stockholders becomes worthless.

When I was a kid, I'd go to meetings, and come up with an idea, and they'd throw stock options at me.

One set of options I had were for a company that went public and opened at 8 dollars. I sold all my options and fixed up my house. I had a friend who had 300,000 options. I advised him to sell them, but he demurred, thinking the stock would go to $50/share.

Six months later it was worth zero. He got nothing for all the years he sunk into the company.