According to traditional economic theory, private investment is more efficient than public investment. Private investors invest in their own companies to accelerate production and thus achieve apparent profits. However, one thing is what the interested theory says and another is what happens in reality.

Lately, we have more than one case that belies this theory. In fact, in May 2019, the Swiss pharmaceutical company Narvartis obtained authorisation to market the medicine Zolgensna in the USA. It allows, through a single session, genetic therapy for a child under two years of age and fatal muscle atrophy. This new treatment seems to be very effective, but its price is $2.125 million, the most expensive of the drugs marketed so far by a pharmaceutical company, according to the Department of Health.

This drug, for its part, is aimed at children under two years of age and in the United States about 400 cases are diagnosed annually, of which 11,000 are children suffering from this genetic disease. At Anarte, today there is treatment, but this treatment must continue in ten years and costs 750,000 dollars the first year and 375 000 dollars the following year. Therefore, they are very expensive in both cases: with the new drug 2.125 million dollars and with the previous one about four million. With the new drug, Narvartal could get about $2.4 billion a year, according to Reuters estimates.

In addition, the price of this medicinal product does not reflect the costs of its production. The treatment costs used above have been taken as a reference and therefore investments in research and development, fixed capital, rents, etc. have not been taken into account.

It seems that Narvartland was going to make huge investments in these kinds of drugs so that investors are rewarded. However, it is not true that huge investments were made to invent this effective drug. In fact, the Narvartland patent was invented by the French laboratory Telethon and financed with public and philanthropic money, money that was obtained from a TV show similar to the marathon organized by ETB.

Thirty years ago, Telethon created the Genethon laboratory, which researched, developed the disease and patented medicine. In 2018, this operative patent was sold to a U.S. company for $15 million and the U.S. company, eight months later, Narvartek was made with it for $8.7 billion.

This fact is significant, as it is clear how the result of the use of public money has gone into private hands. If it were a public production, it would be to take advantage of the whole of society, not for privileged ones: millionaires, not simple people. There is also one case
among us: Euskaltel. It created a business with public money from the Basques, it installed the optical fiber with public infrastructure, it got the clientele with the trick of a false competition, and once the managers filled their pockets, it was sold to English Zegona. And according to what we have heard, in the last quarter Euskaltel made EUR 19 million, which would be good for improving our well-being. It is therefore not understood why the Basque Government sold its share, because telecommunications companies are very strategic for any country.

This is how the servants of the capital act.