EU raids drug companies in broad inquiry

The European Commission raided some of the world's largest drugmakers on Wednesday, launching a broad investigation into whether they made illegal deals or abused patents to limit competition and harm consumers.


http://www.reuters.com/article/marketsNews/idUKL1654892720080116

We're talking everybody. All the bug guys got raided it looks like. What a witch hunt.

Look, nobody doubts that pharma has issue. Marketing practices, public information disclosure what have you - but one area where they have been vulnerable, exposed even, is the aggressiveness of generics companies challenging patents.

Just ouch.

I own JNJ, but not other big pharma right now. With the US elections, this event, and an approval shy FDA - big pharma just seems like dead money right now, regardless of the nice yields it offers. Tough times to be sure.