In a unique study covering the entire US healthcare sector, Awara Accounting https://www.awaragroup.com/ has dug into the problems of the US pharma and healthcare industries, and the findings are shocking. The Awara study shows https://www.awaragroup.com/blog/us-healthcare-system-in-crisis/ that in addition to the original sin of corporate greed, the exorbitant costs of the US healthcare system stem from layers upon layers of distortions with which the system is infested. Each part of the healthcare industry contributes to what is a giant monopoly scam: the pharmaceutical companies, medical equipment manufacturers, drug wholesalers, drug stores, group purchasing organizations, health insurance companies, doctors, clinics and hospitals, and even what should be impartial university research. And on top of that, there’s the government as a giant enabler of monopolized corporations running roughshod over the American consumer and patient.
But it is worse than that. All the monopolists (in official parlance, oligopolies) are in turn owned by the same set of investors in what is called horizontal shareholding. The same some 15-20. investors have the controlling stake in all the leading companies of the entire pharma and healthcare industry.
That’s not all. Two of the investors, BlackRock and Vanguard, are the biggest owners in almost every single one of the leading companies.
Furthermore, BlackRock is owned by Vanguard, BlackRock’s biggest owner being a mystical PNC Services, whose biggest owner in turn is Vanguard. Vanguard itself is recorded directly as BlackRock’s second biggest owner. Moreover, BlackRock and Vanguard are the two biggest owners of almost all the other 15-20 biggest investors, which most are cross-owned and together own the entire US pharma and healthcare sector. Ultimately, then we might have the situation that the whole healthcare sector and Big Pharma are controlled by one giant oligarch clan (and the very real people who stand behind them), one single interest group of oligarch investors.