Name a chronic disease the pharmaceutical industry has cured in your lifetime.
Diabetes: managed. 100 years of insulin, and the count has gone up every year.
Blood pressure: managed. For life.
Cholesterol: managed. For life, from 40.
Depression: managed. A third of the people on it have been on it for a decade.
Reflux: managed. The leaflet says 8 weeks. The average is years.
Asthma, arthritis, eczema, migraine, obesity: managed, managed, managed, managed, injected.
Then in 2014 something slipped through. A drug that actually cured hepatitis C, in 12 weeks, for good.
In 2018 Goldman Sachs wrote a note to its clients about it. The title was a question: is curing patients a sustainable business model?
Their answer was no. The cure had shrunk the market. The hepatitis C business fell from $12 billion a year to under $4 billion, because the patients kept getting better and not coming back.
The bank advised investors to look for conditions that are chronic, and treatments that are taken for life.
That is not a conspiracy theory. It is an investment note, and it says the quiet part in a font.
A cure is a one-off sale. A patient is an annuity, and the whole industry is priced on the annuity.
Nobody is going to cure the thing you have, because the thing you have is their best product.
But a plate can. That is why it is extreme.