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Let's peek into Pfizer's Playbook!
Speculation on Pfizer's next move!
Will Pfizer pre-emptively execute the “Texas Two Step” before shit hits the fan?
First of all, what is the “Texas Two Step”?
The Texas Two Step is a bankruptcy strategy under US bankruptcy law in which a solvent parent company spins off liabilities into a new company and then has that new company declare bankruptcy.
Johnson & Johnson recently tried executing the Texas Two Step strategy with its talc business. If you are unfamiliar, J&J has been hit with over 40,000 lawsuits alleging that their baby powder causes cancer.
They have even pulled the baby powder off US Markets but continue selling remaining stocks in the international markets to maximize revenue. It’s a significant business, particularly in South East Asian countries where people are still largely unaware of allegations that it causes cancer.
More than 40,000 plaintiffs have sued Johnson & Johnson, with some claiming that the company had known for decades that its baby powder and other talc-based products could have contained traces of asbestos, a carcinogen. Others claim the talc itself was an irritant that led to cancer. The plaintiffs include women who say their use of baby powder caused ovarian cancer, as well as people who say it led to mesothelioma, a disease of the lungs that can be caused by exposure to asbestos.
Johnson & Johnson could face billions of dollars in payouts from the cases it has lost, and in 2021 the company created a subsidiary, called LTL Management, that would be liable for those claims. Days after it was created, LTL filed for bankruptcy protection, a move that immediately faced legal challenges from plaintiffs who saw it as a way for the company to limit what it would ultimately have to pay out in the talcum-powder cases.
A Texas Two Step strategy is used by companies to ring-fence their business from litigation by creating a smaller company with few assets and taking all the responsibilities of liability(litigations etc.).
Pfizer’s recently closed 2022 with sales of $100.3b. With accelerating deaths, evidence of vaccine harms, politicians and regulators running, and incoming lawsuits, you can bet that Bourla and his team are considering splitting off the vaccine business as a separate entity to protect their other business segments.
I won’t be surprised if they do this pre-emptively before the lawsuits of vaccine harms hit because an Appeals Court recently rebuffed Johnson and Johnson’s attempt (J&J did the split after losing cases, bad move!). You can read more about it here.
Bourla’s friends are in trouble. EU’s Ursula von der Leyen is getting sued. Fauci has resigned. Politicians around the world are starting to turn their backs on Pfizer because that’s what politicians do when the shit hits the fan. Some are outright running away from the heat (Nicola Sturgeon / Jacinda Ardent).
More and more studies are dropping about vaccine harms. Experts and Doctors are making U-Turns.
Vaccine Sales are dwindling because nobody wants to take anymore jabs except a very small minority of indoctrinated sheeps.
Pfizer’s reputation is rapidly collapsing, and eventually, it will affect the other business segments.
The question is, which will happen first? Bourla’s resignation, or will he perform one last dance for Pfizer and break up the company? Let’s sit back and watch!