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?
Nope.
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.
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