BIS Committee: Like Watching Monkeys Play With an Abacus

The £60bn acquisition – or as Labour prefers it, “The asset-stripping, job-crushing, tax-scamming, profit-driven destruction of a noble British institution, Predator devouring Astraphilia” – came to Parliament.

At one desk, the biggest pharmaceutical companies in the world working on 25-year timescales, developing miracle drugs at the cost of billions of dollars each. Round the horseshoe, Members of the Business Committee.

It was like watching monkeys play with an abacus.

Brian Binley said to the CEO of Pfizer things like, “I’m a businessman,” and “I’m a businessman too,” and “We’re both businessmen.”

Binley chairs a telemarketing company in Wellingborough.

Chairman Adrian Bailey’s qualifications are detailed below.

Perhaps as some sort of anger management therapy, committee members ventilated their feelings – “Your assurances aren’t worth the paper they’re printed on/why should we believe a word you say?/your blind belief in yourself/yes or no, answer the question yes or no.”

No wonder Kraft CEO refused to present herself to such chimps.

The Left on the committee believe in the sanctity of scientists and that the jobs of scientists deserve special reverence. The Right have a special reverence for the votes an unpopular takeover might cost them in a sentimental public. That at least is rational.

None of the MPs were able or willing to admit they had no idea how many scientists it took to make a molecule, or what it should cost, or what it might cost five years out, or why company directors work for profit.

Nor was there any acknowledgement that the vast cost of developing and bringing a drug to market (between $1bn and $5bn) is largely a regulatory cost imposed by cousin chimps in other legislative zoos round the world

The offer, or proposition that Pfizer’s Australian CEO makes is this – the biggest pharmaceutical company in the world wants to spend tens of billions of dollars on a British company and will give a legally-binding spending promise (he insists it’s legally-binding, with unlimited penalties in the case of default) along with an unprecedented five-year guarantee to base a fifth of its R and D in Britain.

He also said that he wasn’t overly concerned with the legalisms because he was a man of honour and had given his word. The board had given their word. No need for guarantees when men of honour were in control.

That is, infallibly, the remark of a rogue, but the MPs had behaved so badly that rogue or not, he got clean away with it.




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Shadow Education Secretary Angela Rayner:

“We have no plans to write off existing student debt.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Davis Accepts Donations from Top Blairite and TV Remainer Davis Accepts Donations from Top Blairite and TV Remainer
BBC #NotOnTheList Stars Paid Via Production Companies BBC #NotOnTheList Stars Paid Via Production Companies
Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket” Pants-Wearing Councillor Boasted He Had “Vaz in My Right Pocket”
Champion: ‘Not Possible’ to Keep Student Debt Promise Champion: ‘Not Possible’ to Keep Student Debt Promise
BBC Rich List Revealed: Salaries In Full BBC Rich List Revealed: Salaries In Full
Torbynista Greening Loses Fight for New Money Torbynista Greening Loses Fight for New Money
New Labour Spinner Boasted of Bullying Angela Eagle New Labour Spinner Boasted of Bullying Angela Eagle
Remainers Behind Smears and Negative Briefings Remainers Behind Smears and Negative Briefings
Sunday Shows Sunday Shows
Byline Fined For Defamation in First Impress Ruling Byline Fined For Defamation in First Impress Ruling
Freedom From Abuse Not Abuse of Freedom Freedom From Abuse Not Abuse of Freedom
Milne & Blonde Pictured in Restaurant Milne & Blonde Pictured in Restaurant
Corbyn Spends Evening With Assad Loving Genocide Denier Corbyn Spends Evening With Assad Loving Genocide Denier
Osborne Defends Blackrock’s Investment on Front Page Osborne Defends Blackrock’s Investment on Front Page
Taylor Review Hijacked by Union Sock Puppets Taylor Review Hijacked by Union Sock Puppets
Assange Lawyer Named as Milne’s Mystery Blonde Assange Lawyer Named as Milne’s Mystery Blonde
The Great Fairtrade Scandal The Great Fairtrade Scandal
Stewart Jackson Tapped for Davis Job Stewart Jackson Tapped for Davis Job
Robbie Gibb New No 10 Comms Chief Robbie Gibb New No 10 Comms Chief