Episode Transcript
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Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.
Speaker 2 (00:16):
Big Pharma a crackdown. Wow, this could be big. Yeah.
The Trump administration announced a crackdown on pharmaceutical advertising on
television and social media. This would disrupt billions, billions of
dollars in annual ad spending.
Speaker 1 (00:42):
Yeah.
Speaker 2 (00:42):
Many of these cable networks out there, twenty five percent
of their ad revenue comes from big Pharma. Ah Man
Anderson Cooper is going to be like me. He's going
to be hosting a podcast soon anyway.
Speaker 1 (00:57):
Um.
Speaker 2 (00:58):
So, President Trump signed a memorandum that calls on federal
health agencies to require pharmaceutical companies to disclose more side
effects in their ads and enforce existing rules about misleading ads.
What do you mean when when people take that diabetes struck,
(01:18):
they don't normally break out into song and dance all
over the place anyway, not neither here nor there. The
administration is pitching the moves as a way to increase
transparency for patients and While it's not an outright ban
as many had hoped for, it is a start and
will certainly had an adverse effect as a drug maker's
(01:39):
scramble to avoid penalties and sanctioned I got it again.
I never ever really understood why this was made legal. Yeah,
a drug maker, they can go back to go back
to hiring sec cheerleaders and having them go around to
doctors office is buying coffee and dropping off samples. As
(02:03):
far as I'm concerned that the drugs that they're advertising
on TV, you need to get a prescription. So it's
not like it's not like you can see, oh that drug, Okay,
you can't go out to CVS and get it. You
first have to go to a doctor. Now you're a doctor,
(02:27):
and then you have a patient coming in who's watching
again people with diabetes dancing around and saying, well, I
want to dance around too. I want that drug. But
the doctor doesn't think that that drug is proper for you.
But you demand that drug. As a doctor, what do
you do, Well, you're not supposed to describe that drug,
(02:51):
try to talk people off that but could be me
calling me crazy. Wouldn't that make your job a little
bit more difficult, and I again, for the life of me,
I don't understand this obsession we have here in this
country with drugs, with drugs, you know, the magic pill
(03:16):
is going to make everything go away. Yeah, what was
the Stone song? There was a Mother's Little Helper, you know,
it was that valume they were talking about. I don't
even remember again before my time, in those great music.
I don't get it. I don't understand why it was, well,
why it was ever quite frankly allowed. I think it's
(03:38):
it hasn't hasn't helped much, you know, rather than you know,
trying to, you know, explain to people that hey, gee whiz.
You know, I keep going back to this one, the
diabetes on the commerce the same commercial. I forget that.
I don't even know the name of it. All I
know is whatever the commercials on TV and a noise
the hell out of me. We've got people that are
(04:00):
obviously overweight and obese dancing around. They've got diabetes, but
now they've got this little pill and now it's okay,
you know. You know, Tony Soprano told Bobby Bach a lot,
you know, I strongly suggest salads and that better than
taking a pill. Anyway, good move as far as I'm concerned.
(04:27):
Gonna be not so good for a lot of those
cable news networks, that's for sure. Watchdog on Wall Street
dot com