Bad Faith Negotiations: Kinsella says Big Pharma companies are routinely walking away from buyout deals that have been fully negotiated. Kinsella says his first brush with Big Pharma's new imperious ethos came in 2005. "We had a fully negotiated deal with [a major Pharma] to acquire a company. But because of their CEO's travel schedule, the deal didn't get signed before the Christmas holiday. When the CEO came back, he had changed his mind. This was a signature-ready buyout that took at least six months to negotiate. And [the company] just walked away. No explanation." Since then, Kinsella says, "There have been numerous instances of pharma companies walking away from deals that were fully negotiated. So this behavior is not a blip; it's been going on for over five years."
via theatlantic.com
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