Abbott Laboratories Message Board
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Hate to say it
P.S.
Pharmatheutical industries in particular need a lot of water and the cleanest. Abbott's investments in Singapore and southern China are not making any sense, because:
Singapore is actually a little city with water supplied largely by its neighboring countries; waters in China, especially in the southern and eastern regions, are (being) polluted heavily by unregulated industrial developments.
Let's hope that the products developed and manufactured in Asia won't be dumped back to the US.-
... appears to be the capital globalization driven by unconstrained greed:
Big corporations outsource their capital & jobs overseas for maximum profits from sweatshops (while small businesses take advantage of the illegals smuggled into the U.S.)
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News 1:
By Brian Orelli , May 21, 2010
At this point, it's become hard for investors to find a drugmaker that isn't heading overseas. Just last week at their analyst meeting, Merck (NYSE: MRK) executives were talking up the emerging-market opportunity. Eli Lilly (NYSE: LLY) has been cutting jobs in the U.S., but adding them in emerging markets like China.
On the one hand, low-margin growth in emerging markets is better than no growth, but on the other, there's only so much capital that pharmaceutical companies have available to deploy. Investing in emerging markets comes at a cost of not investing in higher-reward (albeit higher-risk) licensing of branded drugs.
http://www.fool.com/investing/international/2010/05/21/abbott-learns-to-say-low-margin-in-hindi.aspx
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News 2:
By Tim Culpan, May 17, 2010:
IPhone Builder Hon Hai Turns to Monks as Worker Suicides Mount
http://preview.bloomberg.com/news/2010-05-17/apple-supplier-hon-hai-turns-to-counselors-monks-as-worker-suicides-mount.html
Worker Deaths
Hon Hai Precision Industry Co., the group’s flagship unit, fell 1.7 percent to close at NT$141 in Taipei trading, extending the stock’s drop this year to 6.9 percent. By comparison, Taiwan’s benchmark Taiex index has dropped 7.2 percent.
A worker died from injuries after falling from a company dormitory on May 14, three days after a 24-year-old worker jumped to her death from an apartment block in Shenzhen, according to Hon Hai statements last week.
Excluding the May 14 death, whose cause has yet to be determined, seven Hon Hai employees have killed themselves this year and two workers have attempted suicide, Ding said.
On July 16 last year, 25-year-old Sun Tanyong jumped off a Shenzhen dormitory after one of the 16 iPhone prototypes he was assigned to mail went missing. Apple said at the time that the company was “saddened by the tragic loss.” Jill Tan, a Hong Kong-based spokeswoman for Apple, declined to comment on the recent Hon Hai deaths.
“Recently, there’s been a series of unfortunate events at Foxconn,” Hon Hai said in a May 12 statement. “Although the events aren’t closely connected to the operations and management of Foxconn, we hope to improve our management and increase mental-health counseling.”- 2 Replies to fermata746
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what caused the previous recession?
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"... appears to be the capital globalization driven by unconstrained greed:
Big corporations outsource their capital & jobs overseas for maximum profits from sweatshops (while small businesses take advantage of the illegals smuggled into the U.S.)"
I've addressed my thoughts on your "opinions" about why companies are moving overseas in threads below. Your comment about sweatshops and illegals smuggled into the US are laughable, IMO.
Our companies that start up facilities in developing countries employ many who would otherwise not have a job. I don't read/hear/see a groundswell of protest from those employed. In fact, the only grumbling I hear/read/see come from those whose handouts have become unsustainable and are being revoked in the name of austerity. The vast majority of the illegals that come into this country are not here by gunpoint but in the search of employment.
After reading many of your posts, you come across as many things, the least of which is a free trade capitalist who believes in competition and a belief that one, through hard work, ingenuity and some luck, can achieve great things in this country.
Really, where did you come up with this stuff?
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it seems you are a US employee of Abbott ? Yes, i hope Abbott keeps all its research in the US but at asian salaries pls.
- 1 Reply to value_guy66
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value_guy66,
Elaborate on your reasons why the "US employees" should get "asian salaries", i.e. slave wages.
Why should the US turn back the clock hundreds of years? - just because China has done so??
PS - Don't lock me out again after your reply.
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ABT's Singapore investment won't be impacted by water. In fact, Singapore has invested heavily in new organic water sources and will be self-sufficient in 2011-2012. I wouldn't fret about ABT's investment in the 4th wealthiest county (GDP per capita) on the planet with one of the world's top three busiest ports ---plenty of money, smart as heck, and their water supply will be one of the best in the world.
ABT's investment there and in India, whose population will soon exceed China's, are smart uses of our (investors') funds..........- 1 Reply to usaf_ghost_rider
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'usaf_ghost_ride...',
Define your "organic water" first, and elaborate the "new organic water sources" in Singapore -- a small, heavily urbanised, island city-state in Southeast Asia, located at the southern tip of the Malayan Peninsula between Malaysia and Indonesia.
http://en.wikipedia.org/wiki/Geography_of_Singapore
With regard to "ABT's investment in India", read the news below --
1) India's generic drug industry:
"India became a generics powerhouse because of a 1972 decision by then Prime Minister Indira Gandhi not to recognize patents on drug products. That allowed Indian companies to legally copy expensive branded drugs as soon as they came to market, provided they manufactured the drugs in a novel way."
http://finance.yahoo.com/news/Abbott-buys-unit-of-Piramal-apf-2869493605.html?x=0&sec=topStories&pos=4&asset=&ccode=
("Abbott buys unit of Piramal Healthcare for $3.7B", by Erika Kinetz, AP Business Writer, May 21, 2010, 2:24 pm EDT)
2) And, here's the beauty of the Abbott -Piramal deal:
"As part of the deal, Piramal Healthcare founders have agreed not to make generic drugs to sell in India and other emerging markets for a period of eight years. Piramal Healthcare will retain its custom manufacturing business, which provides outsourced manufacturing services to drug makers globally."
http://online.wsj.com/article/SB10001424052748704852004575257614197847830.html
("Abbott Labs to Buy Indian Drug Maker, by Peter Loftus and Rumman ahmed", May 21, 2010, 9:40 P.M. ET)
So, you should be concerned if you too get ill sometimes (later in your life for sure), as our drug makers are likely to get off the hook - the U.S. FDA:
http://www.fda.gov/ICECI/EnforcementActions/WarningLetters/default.htm
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