AP: Pharma hits the jackpot with ObamaCare 

The Associated Press quotes one expert, expecting $30 billion in added profits for the drug industry thanks to ObamaCare, saying, ""I don't see how they could have done much better."

AP writer Alan Fram ticks off some of the goodies "reform" hands to Big Pharma:

Costly brand-name biotech drugs won 12 years of protection against cheaper generic competitors, a boon for products that comprise 15 percent of pharmaceutical sales. The industry will have to provide 50 percent discounts beginning next year to Medicare beneficiaries in the "doughnut hole" gap in pharmaceutical coverage, but those price cuts plus gradually rising federal subsidies will mean more elderly people will purchase more drugs.

 

Lobbyists beat back proposals to allow importation of low-cost medicines and to have Medicare negotiate drug prices with companies. They also defeated efforts to require more industry rebates for the 9 million beneficiaries of both Medicare and Medicaid, and to bar brand-name drugmakers' payments to generic companies to delay the marketing of competitor products.

 

This is in line with what I have been writing on health-care "reform" all along (I call the bill BillyCare, after top drug lobbyist Billy Tauzin), and it's contrary to the President's claim that this bill represents "standing up to the special interests."

 

The drug lobby's victory also deflates Obama's campaign rhetoric:

the lobbyists, and the special interests who've turned our government into a game only they can afford to play. They write the checks and you get stuck with the bills, they get the access while you get to write a letter, they think they own this government, but we're here today to take it back. The time for that politics is over. It's time to turn the page.

The victory of Tauzin and the Pharma lobby is also ironic when you remember Candidate Obama's campaign-season attack on Tauzin and the "game-playing." See the ad below.

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Timothy P. Carney

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