The IPhone 5 is out, and thus we are continually reminded of the triumph of Apple.
Indeed, their market cap, revenue and profit are staggering. It dwarfs anything found on this list, the world's most profitable pharmaceutical companies. (a traditionally highly profitable and despised industry).
And yet, although I appreciate and own Apple products, the Jobs hagiography would we rather live in a world without his gifts or Dr. Herbet Boyer's? (it is somewhat unfair to single out Jobs; I am growing sick more of the general extolling of the tech entrepreneur as the best lifepath)
Instead, I find myself asking why do people not obsess over the research and development efforts that go into making products like Diovan? Gleevac? Synthetic insulin? I have yet to find an alternative with the popularity of asymco. Instead, it seems most Americans wish to clamp down on pharmaceutical profits.
If you follow the industry, many Wall St. analysts are calling for large companies like Pfizer to spin off whole divisions while outsourcing these roles abroad in order raise cash for stock buy-backs (I wish I were kidding).
Does the US really want to destroy its domestic pharmaceutical industry, a prestige sector for so long? It certainly seems like it sometimes.
In the battle of drugs versus new toys, I for one would prefer to see the US lead the world in the former rather than the latter.
Thus, you can tell me that Apple's market capitalization is greater than 4 times that of Novartis and thus it is more valuable, but I wouldn't believe you.
Choose your own answer.
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