Difference between revisions of "Isaac Kaye"

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==Background==
 
Isaac Kaye (born South Africa) is Deputy Chief Executive of the [[IVAX Corporation]] and Chairman of [[Norton Healthcare]]. in 2002, he is described by <i>the Guardian</i> as being a 'seventysomething multi-millionaire' who 'moved to Britain in 1985, took Irish citizenship and salted away a small fortune in a Channel Islands trust fund from a US business deal'<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
 
Isaac Kaye (born South Africa) is Deputy Chief Executive of the [[IVAX Corporation]] and Chairman of [[Norton Healthcare]]. in 2002, he is described by <i>the Guardian</i> as being a 'seventysomething multi-millionaire' who 'moved to Britain in 1985, took Irish citizenship and salted away a small fortune in a Channel Islands trust fund from a US business deal'<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
  
 
Kaye's first company in Britain was called [[Harris]], which was sold to Florida based [[IVAX Corpin]] in 1990. Harris was then renamed [[Norton Healthcare]], which was later changed to [[Ivax Pharmaceuticals UK]]. Kaye is reported to have 'made £23m from the deal and has a £12m stake in the parent company'<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
 
Kaye's first company in Britain was called [[Harris]], which was sold to Florida based [[IVAX Corpin]] in 1990. Harris was then renamed [[Norton Healthcare]], which was later changed to [[Ivax Pharmaceuticals UK]]. Kaye is reported to have 'made £23m from the deal and has a £12m stake in the parent company'<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
  
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Kaye was a supporter of the South Africa's Apartheid regime<ref>Michael Gillard, 28th September 2000. Apartheid Supporter Who Is a £100,000 Backer of Labour. The Daily Express</ref>, the Afrikaner-led National party<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>. Kaye spent £5,000 in 1997 and 1998 on tickets for Labour gala dinners and donated £100,000 to Labour in 1999<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>. He also gave £10,000 to the London mayoral campaign of [[Frank Dobson]], the former Labour health secretary. According to <i>The Guardian</i>, the Labour party has declined to comment on its relationship with Kaye. He gave the [[Labour Party]] more than £5,000 in  2000.<ref>Ref needed</ref>
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The Ivax Corporation is a huge Florida-based health company. Norton Healthcare, the largest generic drugs company in Britain, is a subsidiary of IVAX. Kaye earned $550,301 at IVAX in 1998 (plus share options worth up to $1.5 million) and $521,520 in 1997.<ref>Ref needed</ref> He lives in a luxury apartment in Grosvenor Square, London.<ref>Ref needed</ref>. In 2002, Kaye is reported to live in Mayfair<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
  
−
The Ivax Corporation is a huge Florida-based health company. Norton Healthcare, the largest generic drugs company in Britain, is a subsidiary of IVAX. Kaye earned $550,301 at IVAX in 1998 (plus share options worth up to $1.5 million) and $521,520 in 1997.<ref>Ref needed</ref> He lives in a luxury apartment in Grosvenor Square, London.<ref>Ref needed</ref>. In 2002, Kaye is reported to live in Mayfair<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
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==South Africa's Apartheid regime==
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Kaye was a supporter of the South Africa's Apartheid regime<ref>Michael Gillard, 28th September 2000. Apartheid Supporter Who Is a £100,000 Backer of Labour. The Daily Express</ref>, the Afrikaner-led National party<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>. Such claims are reported to be contested by Kaye’s lawyer. However, as Osler states<ref>Osler, D. (2006) [http://www.davidosler.com/2006/04/new_labour_and_the_generic_med.html New Labour and the generic medicine scam] Accessed 4th April 2008</ref>, 'it was admitted that Kaye did back one National Party candidate on grounds of childhood friendship' and he is reported to have offered National Party minister for health Dr [[Lapa Munnik]] the 'use of cars to transport supporters to the polls at a crucial 1979 by-election'. Munnik is reported to be 'an apartheid stalwart who threatened to close Catholic schools if they dared to admit non-white pupils'. Kaye also served on the board of [[South African Druggists]] (1977-1982) whose 'executives were also seconded to assist the election efforts of the Afrikaaner-led National Party'.
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==Supporting Labour==
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Kaye spent £5,000 in 1997 and 1998 on tickets for Labour gala dinners and donated £100,000 to Labour in 1999<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>. He also gave £10,000 to the London mayoral campaign of [[Frank Dobson]], the former Labour health secretary. According to <i>The Guardian</i>, the Labour party has declined to comment on its relationship with Kaye. He gave the [[Labour Party]] more than £5,000 in  2000.<ref>Ref needed</ref>
  
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==Gifts for influence==
 
<i>The Guardian</i> reported that<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>...
 
<i>The Guardian</i> reported that<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>...
 
:'Kaye was caught up in a "gifts for influence" scandal in South Africa during the early 1980s amid claims that doctors were being rewarded with everything from cars and TVs to swimming pool equipment and chandeliers for prescribing drugs made by his then firm. He denied any impropriety, saying the giving of presents was not an inducement but an appreciation'.
 
:'Kaye was caught up in a "gifts for influence" scandal in South Africa during the early 1980s amid claims that doctors were being rewarded with everything from cars and TVs to swimming pool equipment and chandeliers for prescribing drugs made by his then firm. He denied any impropriety, saying the giving of presents was not an inducement but an appreciation'.
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In 1996-7 Norton received a £990,000 Regional Selective Assistance grant from the Government to set up a new plant in London. In October 1998 it closed down all its other manufacturing and packaging plants in South East England and moved them to Ireland, cutting 500 jobs in the process. This "re-structuring" helped the IVAX Corporation's share price to rise by 80% in 1998 - Kaye is the second largest shareholder, with a stake worth $136 million held by the [[I. Kaye Family Trust]] (via a Guernsey-based company called [[Charter Trust]], which in turn hold the shares via another company called [[Azure Ltd]]).<ref>Ref needed</ref>
 
In 1996-7 Norton received a £990,000 Regional Selective Assistance grant from the Government to set up a new plant in London. In October 1998 it closed down all its other manufacturing and packaging plants in South East England and moved them to Ireland, cutting 500 jobs in the process. This "re-structuring" helped the IVAX Corporation's share price to rise by 80% in 1998 - Kaye is the second largest shareholder, with a stake worth $136 million held by the [[I. Kaye Family Trust]] (via a Guernsey-based company called [[Charter Trust]], which in turn hold the shares via another company called [[Azure Ltd]]).<ref>Ref needed</ref>
  
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==NHS £400m rip-off?==
 
When [[Frank Dobson]] was Health Minister he called on the NHS to save money by buying cheaper generic drugs, rather than expensive name brands. However, as NHS spending shifted to the generic drugs, their prices increased too - for instance, by 1999 the price of a pack of Norton Healthcare Thyroxine tablets had increased from £6.84 12 months earlier, to £44.89!<ref>Osler, D. (2006) [http://www.davidosler.com/2006/04/new_labour_and_the_generic_med.html New Labour and the generic medicine scam] Accessed 4th April 2008</ref> As a result the NHS doesn't save money, but the IVAX Corporation makes huge profits. As stated by Osler, 'Such tactics saw Ivax’s profits rise over 70% in 2000, despite a 12% decline in turnover'<ref>Osler, D. (2006) [http://www.davidosler.com/2006/04/new_labour_and_the_generic_med.html New Labour and the generic medicine scam] Accessed 4th April 2008</ref>. IVAX's "Easi-Breathe" inhaler has been named a Millennium Product by the Government and is displayed in the Dome.<ref>Ref needed</ref>
 
When [[Frank Dobson]] was Health Minister he called on the NHS to save money by buying cheaper generic drugs, rather than expensive name brands. However, as NHS spending shifted to the generic drugs, their prices increased too - for instance, by 1999 the price of a pack of Norton Healthcare Thyroxine tablets had increased from £6.84 12 months earlier, to £44.89!<ref>Osler, D. (2006) [http://www.davidosler.com/2006/04/new_labour_and_the_generic_med.html New Labour and the generic medicine scam] Accessed 4th April 2008</ref> As a result the NHS doesn't save money, but the IVAX Corporation makes huge profits. As stated by Osler, 'Such tactics saw Ivax’s profits rise over 70% in 2000, despite a 12% decline in turnover'<ref>Osler, D. (2006) [http://www.davidosler.com/2006/04/new_labour_and_the_generic_med.html New Labour and the generic medicine scam] Accessed 4th April 2008</ref>. IVAX's "Easi-Breathe" inhaler has been named a Millennium Product by the Government and is displayed in the Dome.<ref>Ref needed</ref>
 
IVAX was 'raided by police investigating an alleged £400m rip-off of the NHS' and was 'one of six firms suspected of being involved in a price fixing cartel to push up prices charged to the NHS'. IVAX denied any 'wrongdoing'(when??? & who are the other firms???)<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
 
IVAX was 'raided by police investigating an alleged £400m rip-off of the NHS' and was 'one of six firms suspected of being involved in a price fixing cartel to push up prices charged to the NHS'. IVAX denied any 'wrongdoing'(when??? & who are the other firms???)<ref>Maguire K (2002) [http://www.guardian.co.uk/uk/2002/apr/13/politics.partyfunding Profile:Isaac Kaye] <i>The Guardian</i> 13th April 2002. Accessed 4th April 2008</ref>.
  
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==Subsidiaries==
 
The IVAX Corporation's other subsidiaries include [[Zenith Goldline Pharmaceuticals]], [[Goldcaps Inc.]], [[Diamedix Corporation]], [[Baker Norton Pharmaceuticals]], [[Immunovision]] and [[DVM Pharmaceuticals]] (all based in Florida), [[Gelkaps GmbH]] (Germany), [[Elvetium S.A.]] (Argentina), [[Baker Norton Asia]] (Hong Kong), [[Delta Biologicals]] (Italy) and [[Galena a.s. Opava]] (Czech Republic).
 
The IVAX Corporation's other subsidiaries include [[Zenith Goldline Pharmaceuticals]], [[Goldcaps Inc.]], [[Diamedix Corporation]], [[Baker Norton Pharmaceuticals]], [[Immunovision]] and [[DVM Pharmaceuticals]] (all based in Florida), [[Gelkaps GmbH]] (Germany), [[Elvetium S.A.]] (Argentina), [[Baker Norton Asia]] (Hong Kong), [[Delta Biologicals]] (Italy) and [[Galena a.s. Opava]] (Czech Republic).
  

Revision as of 11:27, 4 April 2008

Background

Isaac Kaye (born South Africa) is Deputy Chief Executive of the IVAX Corporation and Chairman of Norton Healthcare. in 2002, he is described by the Guardian as being a 'seventysomething multi-millionaire' who 'moved to Britain in 1985, took Irish citizenship and salted away a small fortune in a Channel Islands trust fund from a US business deal'[1].

Kaye's first company in Britain was called Harris, which was sold to Florida based IVAX Corpin in 1990. Harris was then renamed Norton Healthcare, which was later changed to Ivax Pharmaceuticals UK. Kaye is reported to have 'made £23m from the deal and has a £12m stake in the parent company'[2].

The Ivax Corporation is a huge Florida-based health company. Norton Healthcare, the largest generic drugs company in Britain, is a subsidiary of IVAX. Kaye earned $550,301 at IVAX in 1998 (plus share options worth up to $1.5 million) and $521,520 in 1997.[3] He lives in a luxury apartment in Grosvenor Square, London.[4]. In 2002, Kaye is reported to live in Mayfair[5].

South Africa's Apartheid regime

Kaye was a supporter of the South Africa's Apartheid regime[6], the Afrikaner-led National party[7]. Such claims are reported to be contested by Kaye’s lawyer. However, as Osler states[8], 'it was admitted that Kaye did back one National Party candidate on grounds of childhood friendship' and he is reported to have offered National Party minister for health Dr Lapa Munnik the 'use of cars to transport supporters to the polls at a crucial 1979 by-election'. Munnik is reported to be 'an apartheid stalwart who threatened to close Catholic schools if they dared to admit non-white pupils'. Kaye also served on the board of South African Druggists (1977-1982) whose 'executives were also seconded to assist the election efforts of the Afrikaaner-led National Party'.

Supporting Labour

Kaye spent £5,000 in 1997 and 1998 on tickets for Labour gala dinners and donated £100,000 to Labour in 1999[9]. He also gave £10,000 to the London mayoral campaign of Frank Dobson, the former Labour health secretary. According to The Guardian, the Labour party has declined to comment on its relationship with Kaye. He gave the Labour Party more than £5,000 in 2000.[10]

Gifts for influence

The Guardian reported that[11]...

'Kaye was caught up in a "gifts for influence" scandal in South Africa during the early 1980s amid claims that doctors were being rewarded with everything from cars and TVs to swimming pool equipment and chandeliers for prescribing drugs made by his then firm. He denied any impropriety, saying the giving of presents was not an inducement but an appreciation'.

In 1996, Norton Healthcare was severely condemned by the British Pharmaceutical Association for offering "unnacceptable inducements" (including mountain bikes and Marks and Spencers vouchers) to pharmacists who increased their orders for Norton products.[12] Kaye refuses to recognise Trade Unions at Norton Healthcare because they are "not in line with company philosophy"! According to Osler, 'In May 2000, a Kentucky judge ruled that Norton unlawfully violated the rights of its nurses at one of its US hospitals, by barring them from union activity in their own time. This was held to be in violation of the National Labor Relations Act'[13].

In 1996-7 Norton received a £990,000 Regional Selective Assistance grant from the Government to set up a new plant in London. In October 1998 it closed down all its other manufacturing and packaging plants in South East England and moved them to Ireland, cutting 500 jobs in the process. This "re-structuring" helped the IVAX Corporation's share price to rise by 80% in 1998 - Kaye is the second largest shareholder, with a stake worth $136 million held by the I. Kaye Family Trust (via a Guernsey-based company called Charter Trust, which in turn hold the shares via another company called Azure Ltd).[14]

NHS £400m rip-off?

When Frank Dobson was Health Minister he called on the NHS to save money by buying cheaper generic drugs, rather than expensive name brands. However, as NHS spending shifted to the generic drugs, their prices increased too - for instance, by 1999 the price of a pack of Norton Healthcare Thyroxine tablets had increased from £6.84 12 months earlier, to £44.89![15] As a result the NHS doesn't save money, but the IVAX Corporation makes huge profits. As stated by Osler, 'Such tactics saw Ivax’s profits rise over 70% in 2000, despite a 12% decline in turnover'[16]. IVAX's "Easi-Breathe" inhaler has been named a Millennium Product by the Government and is displayed in the Dome.[17] IVAX was 'raided by police investigating an alleged £400m rip-off of the NHS' and was 'one of six firms suspected of being involved in a price fixing cartel to push up prices charged to the NHS'. IVAX denied any 'wrongdoing'(when??? & who are the other firms???)[18].

Subsidiaries

The IVAX Corporation's other subsidiaries include Zenith Goldline Pharmaceuticals, Goldcaps Inc., Diamedix Corporation, Baker Norton Pharmaceuticals, Immunovision and DVM Pharmaceuticals (all based in Florida), Gelkaps GmbH (Germany), Elvetium S.A. (Argentina), Baker Norton Asia (Hong Kong), Delta Biologicals (Italy) and Galena a.s. Opava (Czech Republic).

Affiliations

Notes

  1. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  2. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  3. ↑ Ref needed
  4. ↑ Ref needed
  5. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  6. ↑ Michael Gillard, 28th September 2000. Apartheid Supporter Who Is a £100,000 Backer of Labour. The Daily Express
  7. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  8. ↑ Osler, D. (2006) New Labour and the generic medicine scam Accessed 4th April 2008
  9. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  10. ↑ Ref needed
  11. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
  12. ↑ Death of the Noble Idea Posted February 5, 2008 Big money trumps everything in politics, even the most dearly-held beliefs By George Monbiot. Published in the Guardian 5th February 2008
  13. ↑ Osler, D. (2006) New Labour and the generic medicine scam Accessed 4th April 2008
  14. ↑ Ref needed
  15. ↑ Osler, D. (2006) New Labour and the generic medicine scam Accessed 4th April 2008
  16. ↑ Osler, D. (2006) New Labour and the generic medicine scam Accessed 4th April 2008
  17. ↑ Ref needed
  18. ↑ Maguire K (2002) Profile:Isaac Kaye The Guardian 13th April 2002. Accessed 4th April 2008
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