Tuesday, August 15, 2006

Big pharma scores off old people

The Center for Economic and Policy Research reported today that pharmaceutical companies are making tons of money under the new Medicare drug plan.

"The excess profits from just a small number of drugs account for a very large portion of the doughnut hole," said Dean Baker, author of the center's new study. "The excess profits for the drug industry as a whole will be close to $50 billion in the first full year of Medicare drug benefit program."

Baker found that drugs cost more than they need to under the Medicare plan because Congress prohibited Medicare from negotiating drug prices directly with the pharmaceutical industry, as is done by the Veterans Administration.

Well, hey! Why not prohibit the VA from negotiating drug prices as well? It would be a win-win for the right wing loonies in charge right now! Step 1: Start wars with the wrong countries to satisfy defense contractors and others in the military-industrial complex gang. Step 2: Help out big pharma by overcharging all the soldiers wounded in those wars for the meds they need!

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