Obama administration sold out to the drug industry
So, the drug industry won again. In promise for no reimportation and no negotiation of drug prices with the government, the drug industry "gave up $80 billion." But wait, was that really $80 billion?
It was only $8 billion per year, for ten years, by an industry that makes $600 billion.
The $80 billion is just a way to make the number sound large. The drug companies don't decleare their ten-year revenue, or their ten-year R&D expenses, or their ten-year anything.
I guess we should be happy this wasn't called a $800 billion saving. Over 100 years.
How much is $8 billion? Much less than some individual drug companies have paid in fines and settlements.
Winner: Drug industry.
Loser: Obama administration.
Anyone still thinks much will change in Washington D.C.?
Full story in the New York Times.