I'm interested in a Marxist analysis of the health "care" industry, particularly pharmaceutical companies. Clearly, their obscene profits (sometimes 400-500% on life saving, patent protected drugs) are a product of their oligarchic position and their cozy position with the FDA. But I am puzzled as to the recent, fairly dramatic, downturn in their stock prices.
My background is philosophy, not economics, and I have been studying Marxist analysis for a relatively short time. So I could use a little help on this one.
What are the important questions to ask?
What explanations can be offered, given that there have been no significant patent expirations and that there are no obviously significant events (like, say, a move to socialize medical care) to explain this downturn.
Beth Goldstein