|
E-mail this page to a friend!
Medicare Drug Program News
Pharmaceuticals Pour Millions into GOP
Races to Avoid Negotiating Prices with Medicare
Democrats promising negotiated drug prices in
Medicare like VA
 October
25, 2006 – It is not talked about much in the Congressional campaigns
but an issue that is having a major impact on the cash contributions in
key races is the question of allowing Medicare to negotiate better
prices on drugs with the pharmaceutical companies, as is done by the
Veterans Administration.
According to a recent survey, the VA pays 48.2
percent less for the 20 drugs most frequently used by seniors. Another
study in Florida by Consumers Union found the VA paying less than half
the price on six key drugs in the Medicare drug plans. Democrats have
jumped on the issue and it is causing the pharmaceutical companies to
pump money into Republican campaigns.
 Pharmaceutical
Industry Has Contributed Millions of Dollars to Republican Congressional
Campaigns in Close Races
The Wall Street Journal on Wednesday examined how
pharmaceutical companies are "pouring millions of dollars" into
congressional campaigns in close races, "giving some Republicans a
financial edge."
According to the Journal, "with a Democratic
victory increasing likely, few recent elections have been so critical"
for pharmaceutical companies, in large part because Democrats have
promised to revise the Medicare prescription drug benefit to "take away
most of the advantages it handed to pharmaceutical companies."
House Minority Leader Nancy Pelosi (D-Calif.) has
said that Democrats, in the event that they take control of the House,
within the first 100 hours will seek to revise the Medicare prescription
drug benefit to allow the federal government to negotiate directly with
pharmaceutical companies for discounts on medications.
In addition, Democrats have proposed "lifting a ban
on the broad-scale reimporting of inexpensive drugs," and they might
seek to "toughen the drug-approval process," the Journal reports.
Democrats also have discussed "holding hearings
into conflicts of interest among Republican now working" for the
pharmaceutical industry, according to the Journal.
In response,
pharmaceutical companies have contributed millions of dollars to
Republicans in close congressional races and to those who have supported
favorable policies.
As of early September, pharmaceutical industry
political action committees had contributed about $8.7 million to
congressional campaigns, compared with $7 million for all of 2002,
according to the
Center for Responsive Politics, a nonpartisan
research group. Republicans have received 69% of the campaign
contributions from the pharmaceutical industry this year.
Pennsylvania Senate Race
In the Pennsylvania Senate race, pharmaceutical company employees and
interest groups have contributed almost $500,000 to incumbent Sen. Rick
Santorum (R-Pa.), whose campaign has received the most in contributions
from the pharmaceutical industry this year, according to CRP.
By contrast, the campaign of state Treasurer Bob
Casey (D), who opposes Santorum, has received $11,850 from the
pharmaceutical industry.
According to the Journal, Santorum, who helped
draft the 2003 Medicare law, "cites the drug benefit as one of his
leading accomplishments."
Pharmaceutical
Research and Manufacturers of America President and former
Rep. Billy Tauzin (R-La.) said of Santorum, "We support folks who agree
with us on the issues, and he's been a strong and good supporter"
(McKinnon, Wall Street Journal, 10/25).
|
Nursing Home Abuse, Medical Malpractice? Contact a lawyer.
click here
|
|
Click to More Senior News on the
Front Page
Copyright: SeniorJournal.com |
