A markup of 279,000% over production costs

[El_Johns]

59. Thanks again. Very helpful, already I find that Gilead's 2nd-largest holder, FMC LLC is controlled

Last edited Fri Jan 31, 2014, 04:13 PM - Edit history (1)

by the Johnson family:

"The founding Johnson family controls Fidelity; Abigail Johnson, CEO Ned Johnson's daughter and one of America's wealthiest women, is its largest single shareholder."

http://biz.yahoo.com/ic/40/40150.html


FMR LLC (Fidelity Management and Research) or Fidelity Investments is an American multinational financial services corporation. It is one of the largest mutual fund and financial services groups in the world. Founded in 1946, the company has since served North American investors

Fidelity is a privately held company founded by Edward C. Johnson II in 1946, which is owned by employees and the Johnson family. Fidelity Management & Research Company, the US investment management division of Fidelity Investments, acts as the investment adviser to Fidelity's family of mutual funds...

The founding Johnson family, individually and through various trusts, owns stock representing a 49% voting interest in FMR, and have signed agreements pledging to vote all their shares as a bloc. Edward "Ned" C. Johnson 3rd is chairman of the group. His daughter, Abigail Johnson, was once the largest single shareholder with about 25%, but in October 2005, it was reported that she had sold a "significant" portion of her shares to family trusts, and that there are doubts as to whether she is still in line to succeed her father.[5] Most of the remaining 51% voting interest is held by various Fidelity employees. Fidelity is presumed under the Investment Company Act of 1940 to be controlled by the Johnson family.[6]

http://en.wikipedia.org/wiki/Fidelity_Investments


And Edward Crosby Johnson is from a Boston Brahmin family.

Edward C. Johnson 2d

Edward C. Johnson 2d "began his long association with the world of finance in 1935 when, as a practicing lawyer with the firm of Ropes, Gray, Boyden & Perkins (now Ropes & Gray), he began handling the legal affairs of Incorporated Investors, then one of Boston's largest investment companies. Four years later, he quit law and joined the investment firm as treasurer. In 1943, he became president and director of Fidelity Fund, a small ($3 million) Boston outfit." This became FMR Corporation, the financial services holding company that includes the Fidelity group. His son, Edward C. Johnson 3d, succeeded him as its head. "A Boston Brahmin, Mr. Johnson was born Edward Crosby Johnson 2d in a townhouse on Beacon street, Back Bay, on Jan. 19, 1898, the son of Samuel Johnson, a partner in a leading dry-goods firm [C.F. Hovey & Company], and Josephine (Forbush) Johnson. His ancestors came to this country in 1635 and were among the early settlers of Essex County. He was a graduate of Milton Academy, Harvard College, class of 1920, and Harvard Law School in 1924. During World War I, he served overseas with the Navy as an electrician's mate. Between college and law school he studied for a year at Harvard Business School. Following law school, he joined Ropes, Gray." (Edward Johnson 2d, Retired Board Chairman at Fidelity. Boston Globe, Apr. 4, 1984.) Edward Crosby Johnson 2d's father, Samuel Johnson, was the son of Dr. Amos Howe Johnson. Edward C. Johnson 2d married Elsie Livingston Johnson, whose father, Reginald Mansfield Johnson, was the son of Rev. Francis Howe Johnson. (Samuel Johnson. New York Times, Aug. 28, 1932; Miss Julia Edwards Weds R.M. Johnson. New York Times, Jul. 3, 1902; R.K. West's Master List.)
R.K. West's Master List / Rootsweb

The Johnsons' grandfathers, Dr. Amos and Rev. Francis Johnson, were brothers, whose sister, Mary Ann, married Prof. Austin Phelps of Andover Theological Seminary. Edward Johnson Phelps, Skull & Bones 1886, was their son. He was secretary, treasurer, and general manager of the Northern Trust Safe Deposit Company of Chicago from 1895 to 1929, president and a director from 1923 to 1929. He represented the Yale Club of Chicago on the Alumni Board from 1910 to 1916, and was a member of the Board of Education of New Trier Township High School from 1918-1923. (Genealogical and Personal Memoirs Relating to the Families of the State of Massachusetts. By William Richard Cutter, William Frederick Adams. Lewis Historical Publishing Company, 1910; Bulletin of Yale University. Obituary Record of Graduates of Yale University Deceased during the Year 1938-1939, pp. 53-54.)

http://www.smokershistory.com/Perkins.html

I also find that Edward Crosby Johnson II (Abigail's father) married his second cousin, which presumably kept the family money in the family.