New Evidence of Pharma's Sweetheart Deal
November 10, 2009
Critics have complained that a drug industry got a sweetheart deal when it struck a bargain with the White House and Senate Finance Committee over health care reform. There’s new reason to think those critics were right. It comes from an October forecast by IMS Health, a respected global research and consulting firm. The report, which IMS distributed to clients and which a source provided, projects that the drug industry will see average annual growth of 3.5 percent between 2008 and 2013. Back in March, IMS had projected no growth at all during that same five-year stretch.
House to PhRMA: No Deal
October 29, 2009
Among the other important distinctions between the new House bill and what the Senate Finance Committee produced is the treatment of the pharmaceutical industry. The Senate Finance bill was true to the deal the Pharmaceutical Manufacturers of America struck with the White House and Senate Finance Chairman Max Baucus, as first revealed by the New York Times and Huffington Post. PhRMA vowed to endorse reform and advertise on its behalf.
How Pharma Won
October 22, 2009
Time's Karen Tumulty and Michael Scherer have a thoroughly enlightening, and thoroughly depressing, article in the new Time about how the drug industry got its way in health care reform. The industry spends more than $600,000 a day in lobbying, they note. And, from the looks of things, it's money well spent. The focus of the article is the debate over "exclusivity" for biological drugs--that is, the period during which the maker of a drug can manufacture and sell it without threat of generic competition.
Megan McArdle's Word Games
September 02, 2009
Atlantic blogger Megan McArdle wrote a post on pharmaceutical companies last month, and while replying to one of her commenters, she said this: The United States currently provides something like 80-90% of the profits on new drugs and medical devices. Perhaps you think you can slash profits 80% with no effect on the behavior of the companies that make these products.
August 25, 2009
How Big Pharma extorted the White House.
A Sweetheart Deal For Pharma--and Who Else?
August 06, 2009
Thanks to the New York Times, we now know the details of an agreement between the White House and the drug industry. And it's looking more like the sweetheart deal that cynics always said. Actually, it's thanks to Billy Tauzin--head of the drug industry lobby PhRMA--who spilled the bean during an on-the-record interview. Some quick background: Earlier in the summer, the White House made a big splash by announcing the drug industry had agreed to sign off on legislative changes that would cut its revenue stream by $80 billion.