Health Care Reform Bill Helps Pfizer and Merck, but Hurts Generics

[The Straight Story]

Health Care Reform Bill Helps Pfizer and Merck, but Hurts Generics
Sunday, December 27, 2009

Passage of the Senate health care reform plan on Thursday delighted Democrats and large pharmaceutical manufacturers, but left makers of generic drugs shaking their heads. While proclaiming the need to cut medical costs, Democrats approved a plan that will protect expensive brand name drugs and delay the availability of cheaper generics for patients.

One provision in the bill that aids Big Pharma prevents generic versions of pricey biotech medicines from entering the market for 12 years, far longer than the five to seven years President Barack Obama had advocated. Another provision in the House version of the health care bill bans some patent litigation settlements with the branded drug makers.

The concessions followed an agreement earlier this year by drug makers like Pfizer and Merck to support President Obama’s reform plan and to implement an $80 billion, 10-year pact to cut prices and pay additional taxes to help fund the expansion of health insurance coverage.

Generic Pharmaceutical Association President Kathleen Jaeger told Reuters: “The bill passed by the Senate unfortunately amounts to a treasure trove to brand drug companies.”

http://www.allgov.com/ViewNews/Health_Care_Reform_Bill_Helps_Pfizer_and_Merck_but_Hurts_Generics_91227

[grahamhgreen]

1. It is a crapsurance & crapasceuticals bill! Crap! nt