Newspaper logo  
 
 
Local Stories, Events

Ref. : Civic Events

Ref. : Arts & Education Events

Ref. : Public Service Notices

Books, Films, Arts & Education
Letters

Ref. : Letters to the editor

Health Care & Environment

02.18 Tesla big battery is holding its own in a burgeoning energy storage market

02.18 Trump administration condemned over delaying action on toxic drinking water

02.16 New experimental drug rapidly repairs age-related memory loss and improves mood

02.16 Toxic black snow covers Siberian coalmining region [0:49 video; If its killing us, stop doing it]

02.16 Renewable energy will be world's main power source by 2040, says BP [But in America's capitalistic bubble, bribed-to-be-biased media and government defy reality]

02.16 My generation trashed the planet. So I salute the children striking back

02.16 US coastal businesses hit by everyday impact of climate change, study shows

02.16 What the pesticides in our urine tell us about organic food [What does inaction tell us about capitalism and our government?]

02.14 Exposure to Glyphosate-Based Herbicides and Risk for Non-Hodgkin Lymphoma: A Meta-Analysis and Supporting Evidence [If its killing us, make it illegal]

02.14 To avoid environmental catastrophe, everything must change [Consider why this headline is laughable or confusing to many, if not most, Americans...]02.13 Study Shows Toxic Pesticide Levels in Families Dropped by 60% After One-Week Organic Diet [2:10 video; Produce and canned vegetables laced with toxic chemicals—from fertilizers and herbicides, too—must be quickly phased out to use safe organic alternatives]

02.12 Biggest offshore windfarm to start UK supply this week

02.12 Scientists Are Totally Rethinking Animal Cognition

02.12 Politicians are complicit in the killing of our insects – we will be next

News Media Matters

02.16 We Shouldn't Stick Our Heads In The Sand, But We Do It Anyway [26:46 audio; Fear like Trump & Fox News incite makes us avoid unpleasant information we need to know]

02.16 The Realized Temptations of NPR and PBS [With bribed-to-be-biased media and government, we all live in a "Truman Show"-style concentration camp]

02.15 Samantha Bee: Fox News 'soiling themselves over the Green New Deal' [video clips from Samantha Bee, Seth Meyers and Stephen Colbert]

Daily: FAIR Blog
The Daily Howler

US Politics, Policy & 'Culture'

02.18 With the Green New Deal, Democrats Present a Radical Proposition for Combatting Climate Change

02.18 Dictator Trump

02.18 With Americans Outraged Over Trump's 'Power Grab Based on Lies,' Nearly 250 President's Day Protests Planned Across the Country

02.16 ‘A Parkland every five days’: project tells stories of the children lost to gun violence [What does inaction tell us about capitalism and our government?]

02.16 Rambling Trump calls an emergency in speech that goes on and on and on [1:42 video; an incoherent president just paraphrases lies and distortion from Fox News and Rush Limbaugh...]

02.16 Calling Emergency Declaration a 'Patently Illegal Power Grab,' ACLU Sues Trump [Empathy and fairness are scarce when your President is a psychopath]

02.15 Bernie Sanders Wants to Expand Social Security

02.15 Progressives Need to Ignore the Noise and Stay Ambitious

02.15 Jayapal Says Medicare for All Bill Coming in Two Weeks as Expert Calls Plan 'Astonishingly Strong' [Corporate control of government and media must be limited to allow efficient programs for the public good]

02.15 To Be Crystal Clear: 'Medicare for All' Does Not Mean 'Medicare for Some'

Justice Matters
High Crimes?

02.16 Elliott Abrams Defends War Crimes As Happening Back In The ’80s When Everyone Was Doing It

Economics & Corrupting-Capitalism

02.13 The Green New Deal offers radical environmental and economic change [For the survival of life on earth, capitalism must be effectively regulated or banned]

02.12 Climate and economic risks 'threaten 2008-style systemic collapse' [Willfull ignorance of Trump, Republicans, corporate-media and corporate-Democrats is steadfast, if not worsening]

02.11 Trump offers socialism for the rich, capitalism for everyone else [and the poor will die out like the insects]

02.10 Green New Deal Targets Link Between Trade Policy and Climate Change

International & Futurism

02.18 Hate-Fest in Warsaw

02.18 They Used To Hold Hands Through the Wall. Now, There’s Razor Wire.

02.15 Who Is Really A Socialist? [Who is really a Republican, etc.?]

02.15 In Germany, the Green New Deal Actually Works

02.14 House passes bill to end US support for Saudi war in Yemen [Congress does something good again!]

02.14 Millions Flowed From Venezuelan Oil Firm to Small Bulgarian Bank [Transactions like Manafort performed for Trump. Which Venezuelan political leader is likely behind this—Maduro or Trump-supported Guaidó?]

We are a non-profit Internet-only newspaper publication founded in 1973. Your donation is essential to our survival.

You can also mail a check to:
Baltimore News Network, Inc.
P.O. Box 42581
Baltimore, MD 21284-2581
Google
This site Web
  Big Pharma Is the Big Winner in Health Care Reform
Newspaper logo

COMMENTARY:

Big Pharma Is the Big Winner in Health Care Reform

by James Ridgeway
First published in his blog Unsilent Generation yesterday, 19 October 2009

As the Senate Finance Committee moved the legislation last week, the deal between the White House and PhRMA to limit price cuts to just $80 Billion out of $4 trillion seemed to be holding together just fine.

Big Pharma was the real winner in last week’s shouting match between Obama and the insurance industry. Insurance execs took all the heat for attacking the White House’s health care reform plan after the administration and lawmakers had negotiated for months to craft a proposal that the industry could live with. Meanwhile, Pharmaceutical Research and Manufacturers of America (PhRMA), the main industry umbrella group, got to play the good guy—all the while escaping scrutiny for the fact that in recent months it has been quietly jacking up drug prices. 

Of course, Big Pharma already stands to hit the jackpot from Obama’s proposed reform plan. Under the deft direction of its chief lobbyist, former Louisiana congressman Billy Tauzin, PhRMA had already secured a valuable deal from the White House to provide a $80 billion in cost savings over the next 10 years in return for the President’s promise to oppose controls on drug pricing and importation of drugs from abroad.

As Fox’s Brian Sullivan points out, health care reform will increase the market for pharmaceuticals by tens of millions of people—a stock market bonanza:

The top 10 prescription drugs in America do around $40 billion per year in sales. It is estimated that 30 to 40 million Americans... lack insurance, or about 20 percent of the population. These 30 to 40 million new ‘customers’ will have greater access to doctors and prescriptions. ...this could add another 20 percent to sales of just the top 10 drugs alone. Twenty percent of $40 billion is—bingo—$8 billion per year. And remember that only factors in the top 10 drugs. There are hundreds more in the market. It is clear that $8 billion in cost cuts will be made up in multiples over the years.

But just in case someone throws a wrench into the deal, Big Pharma has been hedging its bets by quietly running up drug prices this year. The Pharmalot blog reports:

During this year’s third quarter, eight of the biggest drug makers introduced hefty price increases of an average 8.7 percent—easily outdistancing the core Consumer Price Index of 1.4 percent, according to a recent research report by Credit Suisse analyst Catherine Arnold.

Who led the pack? Schering-Plough (soon to be bought by Merck) with a 12.8 percent hike, while Abbott imposed a 4.4 increase (Abbott’s price hikes have, in fact, been declining over the past year, the report notes). What about the others? Merck upped the ante by 9.9 percent; Wyeth (soon to be part of Pfizer) drove prices higher by 9.3 percent; Lilly was at 9.1 percent; Bristol-Myers Squibb prices rose 8.9 percent; Johnson & Johnson increased prices by 7.8 percent, and Pfizer prices rose 7 percent.

Of course, the White House could back out of its arrangement. But as the Senate Finance Committee moved the legislation last week, the deal seemed to be holding together just fine. Newsweek’s Howard Fineman explains how two attempts to ramp up funds from the drug industry were beaten—not by Republicans, but by Democrats:

The Senate Finance Committee’s bill, which passed out of committee on Tuesday, leans very hard on Medicare—but treads very lightly on the private sector. Sen. Bill Nelson, a Democrat from senior-dominated Florida, apparently had not gotten the memo about leaving Big Pharma alone. He wanted to offer two amendments, each of which would have taken another $100-billion-plus bite out of the industry’s Medicare revenue. Tauzin was not pleased. Neither was the White House. The senator was talked out of offering one amendment. He narrowly lost on the other after [Jim] Messina, the White House aide, called to express his dismay and to remind everyone that a deal was a deal. Democrats celebrated the outcome as a victory. The only losers were the American people. But, hey, they weren’t at the table.


Born in 1936, James Ridgeway has been reporting on politics for more than 45 years. He is currently Senior Washington Correspondent for Mother Jones, and recently wrote a blog on the 2008 presidential election for the Guardian online. He previously served as Washington Correspondent for the Village Voice; wrote for Ramparts and The New Republic; and founded and edited two independent newsletters, Hard Times and The Elements.

Ridgeway is the author of 16 books, including The Five Unanswered Questions About 9/11, It’s All for Sale: The Control of Global Resources, and Blood in the Face: The Ku Klux Klan, Aryan Nations, Nazi Skinheads, and the Rise of a New White Culture. He co-directed a companion film to Blood in the Face and a second documentary film, Feed, and has co-produced web videos for GuardianFilms.

Additional information and samples of James Ridgeway’s work can be found on his web site, http://jamesridgeway.net.

This article is republished in the Baltimore Chronicle with permission of the author.



Copyright © 2009 The Baltimore News Network. All rights reserved.

Republication or redistribution of Baltimore Chronicle content is expressly prohibited without their prior written consent.

Baltimore News Network, Inc., sponsor of this web site, is a nonprofit organization and does not make political endorsements. The opinions expressed in stories posted on this web site are the authors' own.

This story was published on October 20, 2009.
 



Public Service Ads:
Verifiable Voting in Maryland