and billionaires to create jobs isn't the way to save our economy move over lockheed and boeing big pharma has replaced the defense industry is the biggest criminal do fraud or in the united states coming up how we have the people to flick the switch and make corporations think twice about screwing us in the future and later many americans cringe at the thought of starting a day without a cup of coffee what new research tells us could make that cup of joe more than just a wake up tool. you need to know this europe is now drawing up plans for something that was unthinkable just a few months ago the departure of greece from the euro zone as greece prepares for elections next month which will likely give anti austerity party's control of the government putting further bailouts in jeopardy european nations are quietly drafting plans to mitigate the economic pain from a greek default and exit almost of the planning is on the hush for fear of leaks reuters is reporting that they have seen memos drawn up by euro zone member states outlining what each name. should consider doing following a greek

all the big pharma companies are big, they have huge revenue bases and they're losing big products. have to go out and get more products. their labs are only a certain amount of productivity they can expect. but there's so much excitement out in biotech, it's a good place to go hunting. >> we know that the fda costs a fortune to develop a new drug. maybe only those kinds of companies have the financial wherewithal. how can companies like alkermes compete? >> there's a sweet spot for companies about our size. you don't want to be so small where you don't have enough money, people, and experience to develop drugs, but if you get too big, you're bureaucratic and slow and risk-averse. so a company about our size, $2.5 billion market cap, we've done this before, know how to make medicines and know how to get them approved and manufacture them. we think we're in the right position to do it again. >> you've got a couple of franchises you've really staked out. one talking about diabetes, but there's another monsterly sized market, unfortunately for emotional, mental. and you've got some sch

but big pharma that's big pharma but the best part of this story is the kids reaction when he found out that he was take a lot. of medicine. thanks . but i can't tell if he was like you know going to get groupies after winning the science prize probably not maybe blew it for i will be waiting for out of the way probably but i was fantastic like i really like i love that he had that reaction instead of being like yeah guys yeah i woke up i'm so excited exactly yes i did it was like ah that's fantastic i wish i would've done that once i'm going to do that like he's done that it fifteen he's going to like it i'll take down to be all over me are you going to be amazing and like we'll take over the world with his science brain or it's all downhill and i know i sell to some people get a little too successful too soon and then you know we're going to go. you know pull in the low here and just like squander everything you're just going to do exactly that never again one of the low hands the britney spears of the world stars i really just hope for it to go down the same. way about hope in life.

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seema mody on the pharma beat. >> that's right, tyler. pfizer thinks so.to deal with the loss, pfizer is presenting a drug to a panel that advises the fda. it treats a rare genetic disease that impacts a small patient pool of 8,000 people worldwide. yes, limited customer base, but pfizer could essentially own a piece of what could be a lucrative market. a trend we witnessed in the pharma space, getting that first-mover advantage allows the drug giants to dictate pricing. while the advisory panel will make their decision tomorrow, the fda has already expressed a lot of concern around this drug. but pfizer telling cnbc that its data provides substantial evidence that support an approval. ahead of that meeting the stock trading in negative territory. sue, over to you. >> thank you very much, seema. so let's bring in jeff. you know, the markets -- i'm just looking up at the board, we're off of our worst levels, but we're still down 139 points today. so how do you play it? how do you make some money in this market? and how do you protect what you've already mad

if you compare yourself to big pharma, military defense contractors, you can't catch up.zens multinational corporations that will decide our elections. by the way, these multinational corporations are also owned by foreign nationals. are we saying if you were a resident of germany or japan or iran that now you get to have a role in american elections? come on. nobody's accepting that. >> let me ask about how you're going to do this. it seems to me we're looking down the road to probably the worst amount of spending in american tlis, on both sides. you have a negative advertisement that has no signature on it in many cases. it's totally negative in almost every dace. the democrats will trash romney. terrible things they say. nobody wants to vote. my question is, you have a 1912 law. what do you do now? is roberts thinking he may have made a mistake? i've heard this rumor they're embarrassed by this series of decisions that's added up to this mayhem. >> they ought to be embarrassed by this. on the ballot in montana, the ballot says corporations can't bribe these elections.

if you compare yourself to big pharma and big p insurance and the military defense contractors you cannotch up there. is no possibility to have a place at the table. it is a couple of dozen multinational corporations to decide the elections, and by the way, the multinational corporations are also owned by foreign nationals so are we also saying that if you are a resident of germany or japan or even china or iran and you are a shareholder in a corporation that now you get to have a role in american elections? come on! nobody is accept iing that. >> let me ask you how you are going to do this, because we are looking down the road to the next six months of the worst amount of spending in american history on campaigns on both sides, because the obama people have to match it, but here is the negative advertisement that has no signature on it and totally negative in every case and trash the opponents and all of the republicans trash obama and the democrats retort and trash romney and all of the terrible things so that nobody wants to vote. and you have a 1912 law and you go to the supreme court

it's almost as though the doctors who tell us what drugs to take have been on the payroll of big pharma haven't known it. >> that's exactly what it is like. >> we look to academia to validate what we'll being told and to define the parameters of our political discourse, and for years we had those saying yes tax cuts will create jobs. folks saying that were being paid by big business. >> yes, and they also were saying you can and should deregulate the economy and the financial system because these anies and these industries will take care of themselves. >> and that -- that was a burr under my saddle and i waged that battle with so many academics and then you say for whom are they consulting? you realized so much of their revenues actually came from the companies that would benefit from the advice they were giving. >> yes. >> this is one theme that runs "predator nation," which is a brilliant book. you just kind of get enveloped by it. what with question do to turn harvard business school and others into more neutral arbitrators? >> i hope this book will have an effect in this that regard

an item today in, i believe, "the daily caller" did the white house cut a back room deal with big pharmat them on board back in 2009 to pass the president's health care initiative. the g.o.p. alleging a secret deal. the big question, though, what exactly did the white house get out of this thing? >> that is the big question so there's this memo from the house republicans about the investigation now. this investigation has confirmed the existence of a deal between the white house and pharma that explicitly bound both parties to certain commitments. because they have to remember back during that time. you remember there was certain groups who came on board and said that they were in favor of obamacare, specifically a lot of people thought the aarp was in favor of them and now it looks like some big pharma companies may have been as well. >> they want to find out if this came from the legislature or came from the white house and rahm emanuel and jim mussina were all over this so the republicans are saying we want to take a look at the e-mail exchange and find out if a deal was cut behind th

did president obama'sspoint overhaull heellhcare cut aa huuh-hush deal with big pharma in 2009 ---tongress?.republican lawmakerr are oised to step up an investigation to uncover wwat deals were cut -- what prrmises weee made -- far from public view.dan wiggins -- a pilot-- miirors the majority oo americans.[graphic]56 percenn of thoss polled n a recent rasmussen survey favor reppal of the healthcare law. wiggins did not need anotherr reason to hate obaaacare.[sot "i don't want to call it 0:14 certainly coerced to gg along with this program or there pight be some consequences." prt=:05[needdgeneric manufacture of pharmaceutical pills]what were the consquences for pharmaceutical companies that refused to board the healthcarr ooerhaul express?[still piitureÑed haislmiaerrçhigh-sal-meyerÑ a senior research fellow at the heritagg foundation sayssits not entirely clear what pharmaceuticals companies reeieeed but he has noodoubt a deal was struck. healthcare researcc analyst kathryn nix ssys at a cost of more hann one trillion dollars over the neet decade -- it's one law [sot in kkte nix in

coming to the states from the federal government because we've spent all our money on two wars, big pharma, and tax cuts. it's a fact. so this is -- this is a very pivotal moment. i think the democrats nationally are making a serious political miscalculation if they don't resource the effort. and a lot of people talk, well, this is about unions. well, it's a component. but it's not the issue. because mr. barrett, the mayor of milwaukee, did not have union support. kathleen falk from madison had the union support. and as soon as the primary was held last week, they quickly turned and said okay, we're going to support mr. barrett. the unions didn't get what they wanted. they didn't get the candidate that they wanted. but obviously they don't want scott walker. so we'll see how it all plays out. >> if you would like to talk with ed schultz here, call. independent callers 202-628-0205. let's get to the calls and hear from roger, the democrats' line in waterloo, iowa. hi, roger. >> caller: good morning. >> good morning. >> caller: thank you for c-span. >> thank you for calling in. >> caller: mr

payoffs to do what they want them to do it's the big corporations the big banks big agriculture of big pharma so nothing is going to change in this country not until the i believe we have a direct democracy system where the people vote on major issues if you would have put up bailing out the banks to the top program in two thousand and eight and put it up for a referendum among the american people it would have failed hands down but instead they push it through so nothing is going to change and by the way nothing is really going to change i believe until the people change and when the people have the courage dignity respect and integrity to live the lives that they believe they should be living they won't take this bull loney from clowns like these these bankers in their two bit shows that they put on t.v. and her remains to be seen how that all shake out across the western world to end countries like greece and other indebted nations we didn't quite get to those because there was so much to get to with this whole jamie dimon fiasco i also thought it was funny him talking in the meet the pres

failure, about one third as many drugs and fda trials today as there were 15 years ago, and the big pharma companies have finally started firing all the scientist that is have not been able to get things through an onerouset is of regulations and our expectations in all of these areas have been dramatically reduced. it will be inconceivable for the u.s. congress to declare a war on alzheimer's comparable to the car on warns in 1970 even though something like 40% of the people have insip ent stages of dementia and i think something like this can be repeated in different areas. if you ask people whether they believe we're living in a technological accelerating civilization the straight forward answer is whether they will be better off than the current generation and most people no longer think that is the case. i think that's somehow forces us to call into question the narrative of incredible technological acceleration. there is an important exception in computers and finance and i would submit the why explanation for this sort of tale of two words, of the computer and financial world, where

for a whole other set of retrograde policies so there's a there's a policy in there that lets big pharma jack at medicine prices there's policies in there that let the oil and gas companies ravage the amazon in colombia their rules in their own financial deregulation things you would never get through even this congress unlike your lawyers this is like some kind of a stealthy slow motion. well you brand this thing as a trade agreements more exports despite the fact you're right hasn't worked out that when the economics but that notion of who is smart people there for free trade and then you stuff all this other stuff in there and you end up with all the corporations lobbying for these agreements because they know what's in it the public gets half bamboozled about well maybe oh give me a job polling though shows at this point made jordi democrats republicans independents all against more nafta's this is this is one of the big questions i mean ross perot took twenty percent of the vote in that election and he had a crazy guys as vice president i mean you know and and he and he had nothing

. >> pharma corp. 30 a.m. -- 5:30 and proposing puting ads on the fire trucks. >> mrore on the rolling billboards. kate? >> two resolutions here. one would allow the advertising on this side of a city fire trucks. the language of the measures is believed to describe as more of a sponsorship recruiting companies to sponsor a truck and recognizing response from the vehicle. in all the testimony we have heard here this afternoon, not one thing we have heard this afternoon, no one was opposed the idea. >> every major company in baltimore city does not have a fire company. the need to be around to buy their products they should be supportive of the fire efforts that move communities for word. even hospitals are at risk when you have this. >> since these are resolutions, the fiscal policy is attached in the mayoral office is not saying, but they will send out rsp's to get advertising signs on the sides of city-owned buildings to go into the general fund. >> here they look at some of the other top stories this hour. temperatures hovering in 90 talks with most of the day-- in the 90's most of

of the world's painkillers so why is america such a pill happy nation and whose interests are big pharma companies really looking out for the patients or their own earlier i was joined by a licensed clinical social worker dark dr darcy smith in regards to america's growing prescription addiction i asked her if she thought it was good for people diagnosing their symptoms themselves take a listen i think it's i think it's a little less scary when people can diagnose their their own their own symptoms because there's a reason why physicians go to med school and we're really not qualified unless we have a medical degree to be diagnosing ourselves and it can be really misleading when we go online and we start doing all this research about their area symptoms and we don't have the foundation of the medical education to really understand what you do with the information that we're reading so we're misdiagnosing ourselves darcy what about you know this direct to consumer advertising that only america and new zealand implement. is this really. causing people to consume eighty percent of the world

tabled a proposal that would expand patents for drug monopolies so this is really a wish list of big pharma of the pharmaceutical companies to be able to extend patents beyond what is currently agreed to an international forum like the like the world trade organization. so they want to extend patents beyond the twenty years they already have to make which would mean that generic drugs drug companies would have would not be able to enter the market which is what depresses prices so in a lot of ways you see this is actually not free trade at all in fact it's actually making more and more monopolies so that drug companies can keep drug prices high let's talk about the six hundred corporate advisers that are involved in these negotiations i mean that is very concerning to know that there are these corporate entities working with the nation states to draft certain policies i mean is it just to increase their bottom line do we have any idea who these corporate people are and are they members of the pharmaceutical industry and we know who they are there are u.s. trade representatives website the u

. >>> another major pharma story as well. vertex up 47.5%. >> it's because of better than expected result out of a still on gone phase-two study on adults with cystic fibrosis so far they have all seen improved lung function of the very good news. they're hoping sales will be very very strong in the coming years. back in november there were worries it was losing grournd as it tries to compete. as you can see here shares have almost doubled making up considerable ground since november. >>> summer movie season under way. superheros leading the charge. lights, camera. >> after john carder bomb, disney needed a hit. marvel's "the avengers" had the biggest hit in the u.s. opening ever bringing in $207 million in the box office. the movie is on track to surpass $1 billion of the global box office justifying disney's $4 billion acquisition of marvel and it will help compensate for the write down they're taking on "john carter." we'll have a interview with bob iger. sue, over to you. >> we look forward to that very much. >>> europe g

this old fashioned big pharma company is about to fall off the big patent cliff.sales are down and cymbalta goes off patent next year and there are more patents that will blow a huge hole in eli lilly's bottom line. this used to terrify investors. the s&p 500 is down 6% and right now it's just a little more off a point. a little more than a point off its 52-week high. so what the heck is going on here? why is lilly pulling ahead when it should be falling behind given the patent cliff, right? has the market totally lost its mind? no. we looked into this. in fact, i'd say lilly's holding up this well because it's a rare sign of sanity in an otherwise psychotic market that could probably benefit from a zyprexa/cymbalt an cocktail. it has a secure dividend that yields 4.8%, a strong pipeline of new drugs in development and a healthy balance sheet. it lacks exposure to the trouble in europe, the pain in spain falls mainly on companies other than eli lilly. it's not all that vulnerable because people don't cut back on medicine during a recession, especially in socialist

purdue pharma which makes oxycontin did not respond to our request for an interview.rug does carry the fda's strongest warning label and it has asked the fda for approval of a new version of oxycontin the company says is harder to abuse. meanwhile in 2007 the national drug intelligence center ranked heroin the most serious drug threat in new england. >> schools don't want to say there are drugs available. the realtors don't want to say there are drugs in the community. and so it is the big, silent epidemic in the suburban america. >> the dea back on the street. >> got a good eye on it. camera's good. ten four? >> the guy walking behind me with the light colored jeans. >> the purity we have in new jersey has ranked one or two within the last five or six years of the highest level of street level purity in the country. ♪ if loving you is wrong ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. pssst! don't go in

if you want to go with a pharma company, abbott is already announcing a split and trading at pretty good multiples. >> ubs upgrading jetblue to a buy. valuation is a bit of a call here, too, but lower fuel prizes good for consumers and airlines. >> you have to be careful with price of fuel because i think there's no reason why this stock shouldn't be trading well north of fi of five bucks. >> wells fargo the favorite, take a listen. >> i've been wells fargo. if i didn't have a full position, i'd probably add to it. >> i like asset managers but if you're going to go to any banks, i think wells fargo is the place to go. >> something like jpmorgan, maybe you want to let the dust settle but wells fargo, you definitely have opportunity will. >> but our next guest doesn't agree. he has the only sell rating on the street. he's davis ritter of argus research. welcome. >> thanks for having me. >> hard to find anybody on the show who does not like wells. what's up with your call here? >> for me it starts with revenue growth. it's always been a very sales oriented culture, focusses on the cross sal

> i am curious what drives your performance and whether you are looking at dividend-paying or big pharmaf the niche layers. >> we are trying to find innovation and important new medical products and when we can find those in the context of smaller companies so that the profitability makes more of an impact on a smaller share outstanding. the rate of change is greater from a financial point of view and therefore the share price rate of change is greater. that's what we are looking for. unfortunately most medical advances are incremental in nature. we don't have a portfolio of new medical products. that's what we are looking for. the flip side is in our business services area. we are trying to find business models that really drive down cost of health care or improve quality outcomes or hopefully do both. that's what we are looking for. our returns because we have had good returns show that by and large,we are able to find those. >> pleasure to speak with you. chris jenner from the price of health science fund. where do you go? >> i prefer unitedhealth over a speculative play. i would like

what's happening in this country is this is a result of going into two wars that weren't paid for, big pharma, and two rounds of tax cuts that nobody did the math on. and now we're gutting our infrastructure in this country. professionals such as yourself, who's got a college degree, who has experience that works with young children in this country are now being cast aside so the wealthiest americans can live a little bit better. how do you feel about that? >> well, i have to tell you, it's the corbett administration way to devalue teachers, because the you devalue teachers, you're not going to have to pay them any money. i don't know about you, but i do know that no teacher i teach with are living high on the hog. we don't have big swimming pools and we don't have big cars. we teach because we love our kids. and it's to the point now where teachers are coming in, in our district, in our school, it's like the walking dead. teachers are still coming in. they've been told they've been furloughed. they're teaching, they're buying paper for their kids, and i just think it's a back door way for th

how most of the national debt is a product of unpaid wars in the bush tax cuts and handouts to big pharma. but mitt romney is also wrong to blame president obama for excessive spending. here are the numbers. government spending, taxes, and deficit are all lower today than when president obama took office in 2009. righties, i know you don't like that, but that is a fact. mitt romney hasn't offered any solution to decrease the deficit except for what? more tax cuts? we already know how romney feels about increasing tax rates, even if it means spending cuts in return. >> say you had a deal, a real spending cuts deal. 10 to 1, as byron said, spending can cuts to tax increases. speaker, you're already shaking your head. but who on this stage would walk away from that deal? raise your hand if you feel so strongly that you would walk away on a 10 to 1 deal. >> romney is portraying himself as the guy who will turn the economy around, but he has no answers. here's what this guy is trying to do. he's trying to wordsmith his way to the presidency. he's coming up with a gimmick conversation, but he d

pharma model, regional climate modeling and national climate modeling said if we don't come radically back on greenhouse gas emissions he waves like chicago 1995, the most famous heat wave in this country, could happen every other year by the 24 thes and every year somewhere in the united states and the heat wave like europe 2003 could happen every other year. that is what the climate model is an you have infectious diseases expanding, kicks could carry infectious disease like malaria. miskitos fire in the mountains. ticks carry lyme disease in the u.s. further into new england and canada and a higher carbon dioxide levels triggered a lot more pollen according to some science. if you hear many parts of the country more people are having allergies maybe there's a reason for that and recent signs saying that there is. extreme weather and indirect effects of ecosystems going over the edge. trees and crops. the agriculture scenario, i love the good news but there are complications there too. in terms of rising temperature. one will also expect the increase range -- heat wave and drought a

if you look at the drug development ecosystem where you have the biotech and the large pharma takingt across the goal line, that ecosystem historically has a 95% failure rate. that's one of the reasons that drugs are so expensive. at md anderson we're the number one cancer center, we have a critical mass of talent and capability, we can do things that can bring that goal down the field so that the launch points are more effective in going into the private sector. and that will change i think the rate of failure rather dramatically. >> all right. just an extraordinary story from a money standpoint, but mostly from a science stand point and the hope around cancer. doctor, good to have you on the program. we so appreciate it. >> thank you. >> president of md anderson cancer center. >>> up next, he's richer today than yesterday. that's for sure. mark zuckerberg has become the wealthiest 28-year-old on the planet. what's the next zuckerberg in the making? i'll speak to a potential candidate coming up. >>> later, my observations on the cost of higher education. you're watching cnbc, first

i think all three of these are targets and at least one of them is gobbled up by a big pharma the end of this year. >> and incapital, we are talking about the yield. >> you are at 1.82 at this point. for most people, buying bonds is more of a flight to safety at this point. i think if you really want to tofs in the bond market, the ten-year is not where you want to go. go to the high end yield or the corporate bond index, lqd. >> it is time now for the "fast money" call of the day. at&t and verizon upgraded on wireless carriers. joining me is jonathan chaplin. interesting call today that helped move the overall market into positive territories. talking about obviously the dow. both of these stocks are performing. and this issue in and of itself seems to be getting a lot of moment momentum, but what's the chance of something actually happening from a subsidy standpoint. talk is cheap. action speaks more. >> we have seen action already. the story in the carriers based for the last few years has been phenomenal adoption of smart phones by consumers driving reputable growth for the carrie

for the next several hours a was a stand off with occupy pharma of protesters and over 50 law enforcement officers. with occupy forprotess are occupy far andm protestors. >> they destroyed a lot of crops and hard work and a lot of good energy. like i said they destroyed a community. >> personal community not taken away from the dump truck was returned to individuals that were waiting on the sidewalk. a new fence is being built near the san paulo entrance. in albany, haazig madyun >>pam: it death threats and graffiti keeping several students from going to school. this is from new york high- school. with the word i'm going to kill everybody in it -- and new woyork newark. this could possibly be connected with the new musical rap group. still, extra police were on campus as a precaution. >>jacqueline: this live look from the golden gate bridge mostly sunny for. you can see some clouds lingering in the distance. really nice for this afternoon. we started with plenty of cloud coverag in nelson's body -- nelson's body e >>jacqueline: upper 60s/low 70's in some areas with -- now some cooling tem

vertex pharma tanking after it corrected some data around a cystic fibrosis drug.5% kre lent oi tennessee original data. vertex says of the improvements were relative, not absolute, whatever that means. still some analysts out defending the stock saying the data while maybe not as good is still pretty darn good. >> okay. also some sunshine for a recent ipo. no. we're not talking about facebook. we're talking about splunk up sharply today. since its april debut the stock up about 115%. ticker symbol splk. the company makes software that collects and indexes data. currently up 2% today. >> caving gear. >>> time now for the outrage of the day which is a new segment on this show and possibly this is the first and last of them. here you go. ceo of rite-ate god an $8 million pay raise over last year's numbers. john stanley went from $2.8 million in 2010 to $10.97 million as a full year 2011 compensation. you've got stock, whatever, whatever. i don't know john standley, herb. rite-aid has been a troubled company for a decade. the stock has effectively been under 2 bucks a