Drug Companies Threatening to Oppose Health Bill
The drug industry is threatening to end its support for President Barack Obama's health overhaul effort because of a rift with the administration over protecting brand-name biotech drugs from low-cost generic competitors.
In an e-mail obtained Friday by The Associated Press, the president of the Pharmaceutical Research and Manufacturers of America told the trade group's board members that "we could not support the bill" if the industry is given less ...
Full Story »
The article focusses only on one aspect of this multi-faceted topic. While drug companies correctly claim that drug development is costly, they usually neglect to mention what they really spend money on (just check out the SEC filings and you'll be surprised to find that R&D is by far not the biggest cost factor!). Again, the problem here is a not so much what is stated in this article, but the need for a total overhaul of the system and not just regarding healthcare. It appears to me as if our government is more interested in protecting itself than anybody else, no matter what the cost.