EU raids drug companies in broad inquiryThe 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/idUKL1654892720080116We'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.
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