Wednesday, January 03, 2007

Big Pharma and Congress - a spanking or a payoff?

Big Pharma is adjusting to a Congress controlled by Democrats determined to impose costly restrictions on their business.

Five committees are planning investigations into how to lower prices paid by Medicare, improve drug-safety enforcement and make generic medications available faster.

Further probes and policy salvos may follow.

"The Democrats want to leverage their power to generate some PAC donations from a very wealthy industry,'' Tufts University's Professor Jeffrey Berry says.

"With one hand they're going to spank the industry, and with another hand they're going to hold their hands palms up.''

Much more at Bloomberg

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