Why a Pharma company called another, “Snake Oil Salesman”!

Date
February 5, 2025
Category
Strategy
Author
Neha Dhudhani
Reading Time
1 min
A pharma company called another “Snake Oil Salesman”! meaning? People who sell (or promote) fraudulent cures: aka QUACKERY! But why call it “SNAKE OIL”? With the Chinese blue-collar immigrants in the US came the traditional

But how did this legitimate cure become a symbol for fraud?

It all starts in the mid-19th century, when Clark Stanley sold the “Cure-All elixir” under the name of “Stanley’s Snake Oil” in America. In his road shows, he tore open a Rattlesnake & plunged it into boiling water. The snake-fat rose to the surface- “The elixir” he learned to make from Hopi medicine men!He got Pretty Popular! Pretty fast!However, the catch was that this remedy could be made only from the Omega-3 acid rich Chinese water snakes & was ineffective when made from Rattlesnakes.Also, later tests revealed that the “Rattlesnake King’s” potion did not contain snake oil at all! It had mineral oil, beef fat, red pepper & turpentine;

& 100’s of consumers discovered that they had been taken for ride!|It was around then that it became a symbol for fraud & songs were written about sellers of snake oil balm & snake-oil ointment for bad burns.What happened to Stanley when it was found that his whole empire was a lie?|He was fined $20 for violating the food & drug act and for "misbranding" his product as a remedy for all pain!

See more on  how we think?
VIEW ALL
Readers rated our insights 8.5/10!
September 3, 2026
Is there a right way to shut down a business?
A game developer, after raising funding, goes bust as it fails to attract users. However, an internal tool they were able to salvage is worth $18Bn today. Is there really a right way to even shut down?
September 3, 2026
Microsoft - one of the most successful pivots of all time?
In 2014, Microsoft was suffering.‍It looked at the business as 2 segments, licensing orhardware – based on how it felt as a division internally.
September 3, 2026
How do I create a board?
We often hear the term Board of Advisors/ Advisory Board being used with reference to organizations. While it is easy to derive the nature of their role from the name itself, it is important that we understand how to build a board
Subscribe to
Our Industry Insights
Be the first to discover trends, inspirations, and special offers as we bring the world of capital directly to your inbox
Rated 8.5 / 10 by people just like you.