The world’s best selling drug is helping to finance Scientology

Free to shine

Shiny & Free
What a nasty corporation scientology is.

How Humira, the world’s best selling drug, is helping to finance Scientology into the future

So, on the last week of 2015, Duggan moved 1 million of his AbbVie shares, worth about $59 million, into his Foundation, and estimated conservatively that its annual investment income from that seed money would produce about $2.9 million in annual “distributable income.”

With only a week left in the tax year, the Duggans didn’t have time to distribute any of that money. But they made it clear who would be eligible to receive it in the form of charitable grants:

“The Foundation restricts its contributions to 501(C) organizations that are churches of Scientology and affiliates social betterment organizations,” the document states.

...

With their Foundation, the Duggans have set aside pharmaceutical stock so that it may reliably generate around $3 million every year for the church, without doing anything at all.

http://tonyortega.org/2017/07/11/ho...lping-to-finance-scientology-into-the-future/
 

Leland

Crusader
I think it is rather funny that part of Duggan's Cancer cell killing procedure.....is basically 2 electrodes that shock a cancer cell's outer membrane.....

So basically a kind of micro electric shock treatment...

I believe this is under some sort of FDA approval tests....
 
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IWantOffThisTrain

Eternal Optimist
I bet miscaviage is fuming they didn't give him access to the principal and are only giving him the interest, like you would do with a child or young adult to make sure they didn't piss away their inheritance. He probably doesnt think that 3m is anything given their wealth but knows he can't say/do anything because they could shut the purse anytime so he has to fawn over them in order to keep up appearances. It makes me happy knowing he doesn't have access to the principle and hopefully the Duggans financial advisors make sure he can never have access to it or any of their other assets if something happens to then.
 

arcxcauseblows

Patron Meritorious
All the money in the world can't change the fact that Scientology has no secrets or technology to sell anymore, and they can't save themselves! let alone all of mankind or the planet or this sector of the universe lol gtfo

The secrets are out and it's no wonder they keep it secret because it's embarrassing!

All they ever had was their secrets to sell but it's only a secret now to the few fools living in their bubble or those living with no television or Internet and they'll catch on soon too

Billy Bob is throwing his tax write offs at zenu fear! Clown move lol

And he boasts around on YouTube with that other rich douchebag what's his name...

Lol what do you know I googled scientology douchebag and he was the first hit!

Grant Cardone!

Hail zenu!

Billionaire bubble boys!
 
I think it is rather funny that part of Duggan's Cancer cell killing procedure.....is basically to electrodes that shock a cancer cell's outer membrane.....

So basically a kind of micro electric shock treatment...

I believe this is under some sort of FDA approval tests....

Scientology: curing cancer cells one auditing session at a time.
 

Gizmo

Rabble Rouser
Whee - throwing a lifejacket or two on the decks of the Titanic after it hit the iceberg & the captain knew it was going to sink.

So, some ill informed person gives the cult 3 million a year - from here on.

Who believes 30 million a year more could overcome the image they have created for themselves ?

Yeah, the cult has over 1 billion - maybe 2 billion - maybe in cash on hand, maybe a lot in real estate.( never mind what a real estate bubble bursting could do to them )

There is no way the cult with their behavior continuing on the course it is on can do anything but shrink rapidly.

They are their own worst enemy & still continuing on their self imposed suicidal path.

Money won't really help 'em.
 

arcxcauseblows

Patron Meritorious
We need a page to get Bob on the search results for Scientology douchebag too

Also, once again Scientology depends totally on wog tech because their tech produces nothing

Where's the ot cancer cure? Oh smoke more cigarettes is the core cause Ron said so!
 

Udarnik

Gold Meritorious Patron
They need to ride that gravy train while they can. Humira's composition of matter patent expired in 2016, and for most drugs, that is the end of exclusivity. Because Humira is a protein drug, the patent office didn't quite know what to do with it, and granted a lot of questionable patents. Normally, the legal bar is set so that you can't patent anything that is "Obvious to someone skilled in the art". In this case, they allowed patents for fucking dosing. While you do have to run more extensive clinical trials on the dosing of a protein drug, subcutaneous dosing at those levels was an obvious target, at least this to this person somewhat skilled in the art :biggrin:, it was an obvious trial to run.

Coherus just won a patent suit against AbbVie that knocked down one of those bullshit patents, but I expect litigation to delay a launch of the first biosimilar Humira until around 2020. I ran a back-of-the-envelope calculation, and the amount of money Augustine was projecting seems to be solely due to the dividend. Come 2020, the price of AbbVie's stock will fall (how much, I don't know), and a lot of that dividend money is going to be diverted into share buy-backs to shore up the price. I don't see anything in AbbVie's pipeline that will make up for the Humira deficit.

When that happens, I will be really curious as to whether they start selling shares to keep up the donation cash flow. That works in the short term, but...
 

Lone Star

Crusader
There was supposed to be a new "revolutionary" cancer drug coming out in May. A still-in told me about it. He didn't have to say it was Duggan. I just knew it was. Apparently it didn't do much for the stock.
 
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Udarnik

Gold Meritorious Patron
There was supposed to be a new "revolutionary" cancer drug coming out in May. A still-in told me about it. He didn't have to say it was Duggan. I just knew it was. Apparently it didn't do much for the stock.

Yeah, "revolutionary" oncology drugs are a dime a dozen these days, and while some genuinely do help certain populations, most are more hype than help.

Duggan's drug may generate half a billion in revenue per year, tops. Humira generated 16 billion in sales last hear. Plugging the Humira hole with that is like slapping a band aid on a sucking chest wound.
 
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