Jim O’Neill on BizNews: Big Pharma spent $1.2 trillion on buybacks. Fixing superbugs would cost a fraction of that

BizNews South Africa

$Jim O’Neill on BizNews: Big Pharma spent $1.2 trillion on buybacks. Fixing superbugs would cost a fraction of that$

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Jim O’Neill, who coined BRIC and later questioned whether South Africa had earned its S, has a new target: share buybacks. Since 2001 Big Pharma has spent around $1.2 trillion on buybacks and dividends. That’s enough to fund his superbug review’s 29 recommendations 30 times over. Meanwhile, drug-resistant sepsis stalks newborns across the developing world. JSE investors know the buyback game well. Naspers and Prosus have spent tens of billions of dollars on their own shares since 2022. Great for