A number of NYTimes business articles in the last 10 days have a central motif: the drug companies are profiting mightily at the expense of (1) the Federal Government (2) the elderly and (3) you ‘n me.
“Drug Prices up Sharply this Year” tells how prices spiked soon after Medicare Part D came into effect. Pharma started charging lots more for its drugs: “four times the general inflation rate during the first three months of this year and the largest quarterly price increase in six years.”
Not only that, gentle reader, a windfall in sales came from the switchover of Medicaid drug payments to the new Medicare Part D. With Medicaid, the government could negotiate drug prices with drug companies. With the new Part D, the government is prevented from doing so by law–a gift of the Prez and his Republican Congress.
Today’s headlines were the icing on the cake: “Big Drug Makers Post Profits That Beat Forecasts.” Well, I think any of us could have predicted this.
A somewhat related headline also piques my interest: “Once an Enemy Health Care Industry Warms to Clinton.” Hmmmm. What the drugs companies do for Bush’s coffers will be done by the health care industry for Sen. Clinton. Caveat voter.
November 16, 2009 at 2:57 pm |
The drug companies claim they are raising prices because some of their patents will expire soon. However, it is convenient that they are doing so before the planned health insurance reforms go into effect. I recommend the following post: http://euandus3.wordpress.com/2009/11/16/drug-companies-as-feeding-machines/