Wednesday, October 29, 2008

Big Pharma - rock and hard place

The presidential candidates may have very different overall proposals to changing the nation's health care system, but Republican John McCain and Democrat Barack Obama both talk tough about taking on the pharmaceutical industry.

Both say they would lower drug prices by increasing competition from generic drugs, allow importation of prescription drugs from other countries, and try to cut the price the government pays for drugs for senior citizens, although they would do so in different ways.

"We know one thing," said Jack Calfee, a health care expert at the American Enterprise Institute. "We're going to have an administration that's hostile to the industry."

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