Originally posted by: BaliBabyDoc
Who cares if the drug industry votes for Kerry? It's one of the most inefficient industries in America compared to the resources it consumes. One of the most honorable of the lot (BristolMyersSquibb) is trying its best to hold on while arguably the most irreputable (Pfizer) has never been stronger. BMS gives Lance several million a year to talk about products 99% of Americans will never use. Pfizer drops $12million EACH YEAR on Roush/Mark Martin's NASCAR Viagra mobile . . . all tax deductible.
On a related note, the US Army spent $16m on their NASCAR ride with the hope of garnering 1200 new recruits . . . I wonder how much body armor that would have purchased?
It makes perfect sense for the world's largest purchaser of medication (Medicare) to negotiate prices with manufacturers. The complaint with importation/reimportation from Canada isn't that Big Pharma cannot make money. The complaint is they cannot make as much money. I can solve that problem. If industry ended ALL DTA it would save billions. It's not like MDs would stop prescribing b/c the Levitra guy has gone MIA.
Do they not have a duty to shareholders to make as much money as they can? Do they not pour so much money into R&D do make these new drugs? Sure, Medicare and any other company should be able to negotiate, and if they don't they are suckers. Saying that we have a duty to minimize drug company's profits is a bit absurd.