Panic in Big Pharma
CounterPunch
by Peter Rost
11/01/06
Few recent elections have been as critical for the drug industry as this one. And that's the reason The Wall Street Journal reports that 'Assailed by Democrats, drug companies are pouring millions of dollars into close races, giving some Republicans a financial edge.' What is at stake is a financial windfall the size of which has never before been endowed on a single industry, courtesy of the current administration. And that windfall is coming from drugs for poor people. By some estimates the windfall for the drug industry could be $2 billion or more this year, and it is the result of the transfer of millions of poor people into the new Medicare Part D program ... the program isn't very effective. Los Angeles Times claims that 'a review by the Senior Action Network, a grass-roots advocacy group in San Francisco, found that Costco's prices on the top 100 drugs used by Medicare beat prices of all 48 plans in California in more than half the cases.' Meanwhile, 'The net federal cost of the new benefit is projected to be $37.4 billion in 2006 and $724 billion from 2006 to 2015. But the program is good for the drug companies, and the insurance industry'...
http://counterpunch.org/rost11012006.html
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=Big+Pharma
by Peter Rost
11/01/06
Few recent elections have been as critical for the drug industry as this one. And that's the reason The Wall Street Journal reports that 'Assailed by Democrats, drug companies are pouring millions of dollars into close races, giving some Republicans a financial edge.' What is at stake is a financial windfall the size of which has never before been endowed on a single industry, courtesy of the current administration. And that windfall is coming from drugs for poor people. By some estimates the windfall for the drug industry could be $2 billion or more this year, and it is the result of the transfer of millions of poor people into the new Medicare Part D program ... the program isn't very effective. Los Angeles Times claims that 'a review by the Senior Action Network, a grass-roots advocacy group in San Francisco, found that Costco's prices on the top 100 drugs used by Medicare beat prices of all 48 plans in California in more than half the cases.' Meanwhile, 'The net federal cost of the new benefit is projected to be $37.4 billion in 2006 and $724 billion from 2006 to 2015. But the program is good for the drug companies, and the insurance industry'...
http://counterpunch.org/rost11012006.html
Informant: Thomas L. Knapp
http://freepage.twoday.net/search?q=Big+Pharma
rudkla - 2. Nov, 17:56
