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Pharma Deal With White House on Course to Net Industry Billions

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posted on Nov, 11 2009 @ 09:49 AM
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Pharma Deal With White House on Course to Net Industry Billions


www.huffingtonpost.com

The deal struck between the pharmaceutical lobby, the White House and Senate Democrats has drastically improved Big Pharma's expected profits, a private industry report finds.

PhRMA, the lobby entity for the industry's heavy hitters, reached a secret deal with the White House and the Senate Finance Committee in June. As detailed in a memo first published by The Huffington Post, the Obama administration agreed to oppose congressional efforts to use government leverage to bargain for lower drug
(visit the link for the full news article)




posted on Nov, 11 2009 @ 09:49 AM
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This is great news, because Big Pharma is making way more money now that means more affordable medicine for the people......... right??????

I mean that would only make sense.

So... with Bush it was with Oil companies and with Obama it's both oil and Big Pharma?

Well.... i'm glad I finally see the change we were promised.
If it was still ONLY oil companies then that wouldn't be much change.

Economy is, for now, a little stimulated, so that also accounts for it.

But let's see where the tide goes later.

www.huffingtonpost.com
(visit the link for the full news article)



posted on Nov, 12 2009 @ 02:54 PM
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reply to post by ModernAcademia
 


The House version of the bill does, I believe, allow for some price negotiations with the pharmaceutical companies. That, of course, would be the best way to control some of the costs of health care reform, and I recommend it.

But the drugs in question in this article are mostly name-brand drugs.

One thing that is going to reduce the cost of branded drugs in this country is the current move to generics. I, myself, take no name-brand drugs at all, as do many people I know who are on Medicare.

Doctors are now prescribing generic alternatives when asked, and when there is no comparable generic prescribe another, alternative, medication that treats the same condition.

In addition, stores like Wal-Mart are selling generic drugs for 3 or 4 dollars per prescription; a far cry from the hundreds of dollars that many name-brands cost. Wal-Mart is rapidly becoming the pharmacy of choice for millions.

Some doctors sometimes insist that there is no reliable alternative to a name brand drug, but you have to remember they get free samples and all kinds of other favors from drug salesmen.



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