THE NEW DRILL FOR PHARMA - cozy partnership with Republicans is over

[WillYourVoteBCounted]

Health Reform: Stumbling Blocks Still Remain

Business Week January 15 By Aaron Pressman

As Barack Obama closed in on the Presidency last year, investors got increasingly skittish about drug stocks. Johnson & Johnson fell 18% in the two months before the election, Schering-Plough dropped 23%, and Eli Lilly tumbled 28%. Investors had good reason to be worried. Obama’s health-care reform plan is likely to include letting Medicare negotiate lower drug prices, overturning a ban on government-driven discounts that was in the original 2003 “Part D” program.

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THE NEW DRILL FOR PHARMA

LOWER PRICES
Republican authors of the 2003 Medicare drug plan barred the government from negotiating discounts. Obama and congressional Democrats will overturn the ban, reducing prices paid for drugs. All major pharma players may be affected.

NEW LEADERSHIP
Critics of the Food & Drug Administration say few drugs of consequence have been approved over the past few years and that the FDA shied away from anything controversial. New leadership could change that.

BIOTECH GENERICS
Congress plans to create a procedure to allow generic copies of treatments by biotech companies. That may cut into profi ts at some drug developers, but generic makers will expand their market share.

[DesertFlower]

1. good.

my doctor prescribed restasis eye drops for me. my drug plan paid $595 for a 3 months supply. i paid $95. is that crazy? there's no generic yet.

[WillYourVoteBCounted]

2. the republicans did everything they could to help Pharma control pricing, approval

the "free market" where prices can't be negotiated.

[oldnslo]

3. Of course you've heard of the "donut hole?"

Negotiating drug prices would help seniors delay that awful event. Georgie and company did everything they could to screw seniors, and a lot of us would like 10 minutes alone with him in a room somewhere. Right after we finish with Billy Tauzen, ex-politician and now lobbyist for the drug industry, who came up with and shepherded Part D. Damn them both.

I really hope Obama can make some decent headway on this.

[WillYourVoteBCounted]

4. with Medicare D, my mother paid several thousand $

we had to pay for medicare D premiums, then co pays, and then the donut hole.

Each year the plans change, and you have to try to figure out which plan is the best.

The best thing is that my mother has lived long enough that some of her meds are
now on the $4.00 a month generic list at Walmart (and other places slightly higher).

Then I can use the YourRXCard to get her non generic or non $4.00 plan meds for about 30%
of market price.

The donut hole is vicious and the plans were designed by the Big Pharma.

This is bad for Senior's health.

Normally my mother hits the donut hole in July.

[Lugnut]

5. It's a ripoff.

Subscribers can only change plans once a year but Part D insurers can adjust their formularies whenever they want.