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HEALTH PLAN WILL BE HUGE GIFT TO PHARMAS
Sam Stein, Huffington Post - 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.
IMS Health, a company that supplies the pharmaceutical companies with sales data, predicts that new health reform legislation -- combined with a projected upswing in the economy -- will result in a net gain of more than $137 billion in total market sales over the next four years. . .
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 prices. The White House also agreed not to shift some drugs from Medicare Part B to Medicare Part D, which would have cost the industry billions in reduced reimbursements. All this in exchange for $80 billion over ten years to help push for reform.
The Senate version of the healthcare bill still conforms to the deal (that the White House has still never officially confirmed). The House bill is in the same ballpark, although it would cost Big Pharma an extra $14 billion.
IMS Health, a company that supplies the pharmaceutical companies with sales data, predicts that new health reform legislation -- combined with a projected upswing in the economy -- will result in a net gain of more than $137 billion in total market sales over the next four years. . .
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 prices. The White House also agreed not to shift some drugs from Medicare Part B to Medicare Part D, which would have cost the industry billions in reduced reimbursements. All this in exchange for $80 billion over ten years to help push for reform.
The Senate version of the healthcare bill still conforms to the deal (that the White House has still never officially confirmed). The House bill is in the same ballpark, although it would cost Big Pharma an extra $14 billion.
1 Comments:
Just say no. This bill is not worth it. The Dems blew it and need to punt. Passing it will only be worse because when people realize what's in this bill, mandates to pay for private insurance, no real public option, no cap on rates - they will be outraged and blame the Dems.
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