![]() ![]() This weekend, go visit your grandma and punch her in the face. “So maybe I don’t have to do any punching, because I will not meet the shareholders. So who owns the shares in these stable companies?” My young audience looked back at me, their faces like one big question mark. ![]() Many other kinds of companies’ shares follow the economy-they do better or worse as people go on spending sprees or cut back-but the cancer patients always need treatment. When the stock market goes up and down, or oil prices go up and down, pharma shares keep giving a pretty steady return. It’s actually interesting because pharmaceutical shares are very stable. ![]() “Now, the question is”-I looked at the student who had first suggested the face punching-“who owns the shares in these big pharmaceutical companies?” “Well, it’s the rich.” He shrugged. That’s how they get a good return on their shares.” So there’s nothing wrong with the employees, the boss, or the board, then. “It’s the shareholders who want this company to spend their money on researching rich people’s illnesses. If the board changes its priorities the shareholders will just elect a new board.” “That’s right,” I said. It’s not the boss or the board who decides. ![]()
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