Business
Cancer Drug Once Bought for $7 Million May Now Fetch $18 Billion
(Bloomberg) — An overlooked drug bought by a biotech company for a mere $6.6 million a decade ago could become one of the biggest selling cancer treatments ever.
Those high expectations have its maker, Pharmacyclics Inc., considering selling itself in a deal that could be worth as much as $18 billion.
The Sunnyvale, California-based company has attracted interest from companies including Johnson & Johnson and Novartis AG, Bloomberg reported Wednesday. Cancer is one of the most lucrative areas of drug development, and Imbruvica is an easy-to-use pill that costs around $100,000 a year, avoids certain serious side effects of chemotherapy, and patients can stay on it for long periods of time.
The drug has also made a billionaire of Chief Executive Officer Robert W. Duggan. Duggan owns 13.5 million shares, or 18 percent, of Pharmacyclics. The stock constitutes the bulk of his $3.2 billion net worth, according to the Bloomberg Billionaires Index. He amassed most of the shares at a cost of $42 million between 2004 and 2011, when he used his holdings to take a board seat and eventually control of the company.
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Activism
OP-ED: AB 1349 Puts Corporate Power Over Community
Since Ticketmaster and Live Nation merged in 2010, ticket prices have jumped more than 150 percent. Activities that once fit a family’s budget now take significant disposable income that most working families simply don’t have. The problem is compounded by a system that has tilted access toward the wealthy and white-collar workers. If you have a fancy credit card, you get “presale access,” and if you work in an office instead of a warehouse, you might be able to wait in an online queue to buy a ticket. Access now means privilege.
By Bishop Joseph Simmons, Senior Pastor, Greater St. Paul Baptist Church, Oakland
As a pastor, I believe in the power that a sense of community can have on improving people’s lives. Live events are one of the few places where people from different backgrounds and ages can share the same space and experience – where construction workers sit next to lawyers at a concert, and teenagers enjoy a basketball game with their grandparents. Yet, over the past decade, I’ve witnessed these experiences – the concerts, games, and cultural events where we gather – become increasingly unaffordable, and it is a shame.
These moments of connection matter as they form part of the fabric that holds communities together. But that fabric is fraying because of Ticketmaster/Live Nation’s unchecked control over access to live events. Unfortunately, AB 1349 would only further entrench their corporate power over our spaces.
Since Ticketmaster and Live Nation merged in 2010, ticket prices have jumped more than 150 percent. Activities that once fit a family’s budget now take significant disposable income that most working families simply don’t have. The problem is compounded by a system that has tilted access toward the wealthy and white-collar workers. If you have a fancy credit card, you get “presale access,” and if you work in an office instead of a warehouse, you might be able to wait in an online queue to buy a ticket. Access now means privilege.
Power over live events is concentrated in a single corporate entity, and this regime operates without transparency or accountability – much like a dictator. Ticketmaster controls 80 percent of first-sale tickets and nearly a third of resale tickets, but they still want more. More power, more control for Ticketmaster means higher prices and less access for consumers. It’s the agenda they are pushing nationally, with the help of former Trump political operatives, who are quietly trying to undo the antitrust lawsuit launched against Ticketmaster/Live Nation under President Biden’s DOJ.
That’s why I’m deeply concerned about AB 1349 in its current form. Rather than reining in Ticketmaster’s power, the bill risks strengthening it, aligning with Trump. AB 1349 gives Ticketmaster the ability to control a consumer’s ticket forever by granting Ticketmaster’s regime new powers in state law to prevent consumers from reselling or giving away their tickets. It also creates new pathways for Ticketmaster to discriminate and retaliate against consumers who choose to shop around for the best service and fees on resale platforms that aren’t yet controlled by Ticketmaster. These provisions are anti-consumer and anti-democratic.
California has an opportunity to stand with consumers, to demand transparency, and to restore genuine competition in this industry. But that requires legislation developed with input from the community and faith leaders, not proposals backed by the very company causing the harm.
Will our laws reflect fairness, inclusion, and accountability? Or will we let corporate interests tighten their grip on spaces that should belong to everyone? I, for one, support the former and encourage the California Legislature to reject AB 1349 outright or amend it to remove any provisions that expand Ticketmaster’s control. I also urge community members to contact their representatives and advocate for accessible, inclusive live events for all Californians. Let’s work together to ensure these gathering spaces remain open and welcoming to everyone, regardless of income or background.
Activism
Oakland Post: Week of December 31, 2025 – January 6, 2026
The printed Weekly Edition of the Oakland Post: Week of – December 31, 2025 – January 6, 2026
To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.
Activism
Big God Ministry Gives Away Toys in Marin City
Pastor Hall also gave a message of encouragement to the crowd, thanking Jesus for the “best year of their lives.” He asked each of the children what they wanted to be when they grow up.
By Godfrey Lee
Big God Ministries, pastored by David Hall, gave toys to the children in Marin City on Monday, Dec. 15, on the lawn near the corner of Drake Avenue and Donahue Street.
Pastor Hall also gave a message of encouragement to the crowd, thanking Jesus for the “best year of their lives.” He asked each of the children what they wanted to be when they grew up.
Around 75 parents and children were there to receive the presents, which consisted mainly of Gideon Bibles, Cat in the Hat pillows, Barbie dolls, Tonka trucks, and Lego building sets.
A half dozen volunteers from the Big God Ministry, including Donnie Roary, helped to set up the tables for the toy giveaway. The worship music was sung by Ruby Friedman, Keri Carpenter, and Jake Monaghan, who also played the accordion.
Big God Ministries meets on Sundays at 10 a.m. at the Mill Valley Community Center, 180 Camino Alto, Mill Valley, CA Their phone number is (415) 797-2567.
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