Yesterday I read this story:<\/p>\n
IDG News Service – Google is at its wit’s end dealing with illegal sellers of prescription drugs that market medicines on its ad network, so it has decided to take some of these allegedly rogue advertisers to court.<\/p>\n
In addition to pursuing the alleged violators, Google hopes that its action also serves as a deterrent against other illegal medicine peddlers, Google said Tuesday.<\/p>\n
Google has struggled with the problem for years, Michael Zwibelman, a Google litigation counsel, said in a blog post.<\/p>\n
“It’s been an ongoing, escalating cat-and-mouse game — as we and others build new safeguards and guidelines, rogue online pharmacies always try new tactics to get around those protections and illegally sell drugs on the web,” he wrote.<\/p>\n
Rogue prescription drug sellers have increased in number and become more sophisticated in their dealings, and “a small percentage” of them have been able to dodge Google’s efforts to block them from running ads on its network, according to Zwibelman. This occurs despite Google’s tightening of its advertiser verific<\/p>\n
The drug discovery business is gambling bigtime. I know the family of the inventor of Valium. That family is rich beyond your wildest dreams.<\/p>\n
Years ago I put money into a bunch of startup drug companies. I was naive, but greedy. One did well — Cougar got bought at $43 by JNJ. Chelsea is doing better. But the process of testing a drug for satety and efficacy — the FDA’s two criteria — is slow and ultra-expensive. In total, I’m still under water.<\/p>\n
I own stock in a promising drug company called Ziopharm. They’ve just reported favorable news:<\/p>\n
NEW YORK–(BUSINESS WIRE)– ZIOPHARM Oncology, Inc. (Nasdaq: ZIOP) announced today that the United States Food & Drug Administration (FDA) has granted Orphan Drug Designation to darinaparsin (ZinaparT or ZIO-101) for the treatment of peripheral T-cell Lymphoma (PTCL). The United States Orphan Drug Act of 1983 was created to provide incentives for companies to develop and market treatments for diseases or conditions affecting fewer than 200,000 people in the United States. The Orphan Drug designation provides eligibility for a seven-year period of market exclusivity in the United States after product approval, an accelerated review process, accelerated approval where appropriate, grant funding, tax benefits and an exemption from user fees.<\/p>\n
And the stock should pop a few pennies. But look at the miserable five year chart.<\/p>\n
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