Big Pharma reaps huge, excess profits on Medicare plan - Thanks Congress!
Thousands of drugs cost more than necessary under the Medicare drug plan because Congress prohibited Medicare from negotiating drug prices directly with the pharmaceutical industry. The excess profits for the drug industry as a whole will be
close to $50 billion in the first full year of Medicare drug
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Profits of China's top corporations up
SHANGHAI, China -- China's 500 top businesses saw their
profits rise 23 percent in 2005, with strong earnings in the petrochemicals, banking and metals industries contributing a large share of the growth, according to a study published Monday.
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WORK on bolstering flood defences in New Orleans helped ground engineering business Keller more than double half-year profits.
Penney, Target turn in respectable profits for second quarter
Two leading retail stalwarts - J.C. Penney Co. and discounter Target Corp. - reported on Thursday better-than-expected profits in the second quarter. Target, the nation's second-largest discounter
behind Wal-Mart Stores Inc., overcame its sales slowdown in
July and reported a 13 percent increase in second-quarter profits. The results were fueled in part by the
strength of its credit
card operations. The company maintained its profit outlook
for the year.
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profits hit by rising energy costs
Food group Kerry has reported a dip in pre-tax profits for the six months to the end of
June 2006, as energy
costs slowed growth during the period. Kerry said that pre-tax profits for the half year fell to 125m from 130.9m the same time last year.