The only lost revenue to Abt. are pts that would be on Humira even though not reimbursed. The real cost to Abt. is for the mfg of the product and distribution. Pennies on the sales dollar. This program is considered gratis and will become a business expense. Abt. having a 23-24 percent tax rate further reduces their costs. Also, the larger mfg. volumes increases efficiencies and lowers the overall cost of the product. As always, Horny.
The giveaway is just that...lost revenue and ultimately lost earnings...and anyone who tries to disguise it in other words is full of ****. Yesterday we sold a portion of our ABT shares that we have held for many years...You don't have to be a rocket scientist to know thatwhen you spend time,money, etc on research and develop a product that is expected to make money and then you give it away,that you hurt the immediate and long term bottom line. I am not against national health.I support it.I would like to see the U.S have a health care system similiar to Canada or England(and I know their shortfalls).BUT don't ask individuals to invest their $ in drug research and then give the product away because of political or humane reasons. I suggest that the ABT mgmt and b.o.d donate their salary and perks,options etc to sr citizen groups.I would applaud their philanthropic attitude....But let them do it with THEIR money.