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Obama plan could whack Big Pharma
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Big Pharma may have been buttering up the Democrats lately with big campaign contributions, but Barack Obama's healthcare plan looks primed to hit drugmakers. According to Boston Consulting Group, Obama's plan to let the feds negotiate Medicare drug prices could take a big bite out of industry revenues. A $10 billion to $30 billion bite, to be exact.
But, according to the Wall Street Journal Health Blog, that loss could be offset at least partly by the Democratic candidate's efforts to cut the number of uninsured people. If his plans come to fruition, more people will be able to afford prescription drugs to begin with.
On the other hand, Obama's move toward negotiated Medicare drug prices could start a domino effect, inspiring private insurers to demand price cuts, too.
John McCain doesn't mention whether he'd empower Medicare to negotiate drug prices. But he does favor saving money via re-importation of drugs. And of course he's on the record with his characterization of Big Pharma as "big bad guys."
- read the WSJ Health Blog post
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Comments
By Keisha Bickel | Posted 5:31am | November 6, 2008
Not that he'll see this, but this is to Senator and soon to be President Obama. Please please please, do not let Big Pharma "buy you". I strongly believe that they are intentionally hurting people like myself, who have disabilities and so (in my opinion) they use that to make money and I really don't think they care about people and their health. But, Senator (soon to be President) Obama, I KNOW you have a heart! Please do whatever you can to help us with the healthcare system including the pharmaceutical industries. I believe we are in great danger and we need something positive to look forward to. We need you Senator Obama! YOU ARE BEING COUNTED ON!
"YES WE CAN!" Remember?! Let's say yes we can change the health treatment we get in the U.S.
Thanks
By Anonymous | Posted 9:06am | November 6, 2008
Well Keisha your in luck. With $4.00 prescriptions for generic medication at Wal-Mart, higher corporate taxes on the way, and 10 to 30 billion taken out of research ie. profits taken from big evil Pharma we are rapidly heading to 1980s medicine and maybe even the 70s. So strap in and dont look for any new drugs for a while.
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