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Thread: Drug Industry: President Reneges on Health-Reform Deal

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    Drug Industry: President Reneges on Health-Reform Deal

    What? President Obama going back on his word to someone after he got what he needed from them? I'm shocked!

    Drug Industry: President Reneges on Health-Reform Deal - FoxBusiness.com
    Drug industry sources tell FOX Business the Administration is backtracking on what is called the “PhRMA deal” in health reform, a deal that was struck behind closed doors in late 2009 and early 2010 in order to get the industry to support and endorse health-care reform.

    In the “PhRMA” deal, drug companies would fork over $80 billion in fees as well as give drug discounts to seniors in Medicare over 10 years, among other things (The CBO has reported that those fees may be passed along to customers, anyway, in the form of higher drug prices. (See EMac's Bottom Line, "CBO Says Health Reform Causes Drug Costs to Rise")

    In exchange, the White House agreed, among other items, to not force the drug industry to accept rebates on drugs sold through Medicare Part D, a program launched under President George W. Bush to subsidize prescription drugs for seniors.

    But President Barack Obama's new deficit push calls for those Medicare rebates, via the Simpson-Bowles plan.
    The GAO also found that prescription drug costs continue to rise faster than overall health-care inflation.

    To try and stop that, the White House wrangled up to 50% discounts on drugs to seniors in what's called the Medicare part D donut hole, a Medicare anomaly where seniors lose coverage. Along with those discounts, the White House got the industry to fork over a total of $80 billion in fees and other price cuts as well.

    In exchange, the industry says the White House agreed to not pursue rebates on drugs in Medicare Part D.

    The industry also says the White House agreed to not use Medicare’s “purchasing power,” meaning its colossal leverage to haggle with drug makers in various ways to get cheaper drugs.

    The drug industry added that the Administration said it would oppose future Congressional efforts to re-import cheaper generics or other drugs from foreign countries like Canada.

    And the industry says the White House agreed to block Congressional efforts to repeal Medicare’s “non-interference” law, which prohibits the government from interfering in the price negotiations between drug companies and commercial insurers who provide the Medicare Part D drug benefit, among other things.
    “PhRMA got an $80 billion deal, and in return for which they ran $150 million worth of ads in favor of health reform,” Republican Senator and former presidential candidate John McCain said at a meeting with the President in February 2010.
    The White House did not return calls for comment.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by Whovian View Post
    What? President Obama going back on his word to someone after he got what he needed from them? I'm shocked!

    Drug Industry: President Reneges on Health-Reform Deal - FoxBusiness.com
    Good. Exhorbitent drug prices are one of the reasons medical care is so expensive, this will certainly help for better pricing over time.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by megaprogman View Post
    Good. Exhorbitent drug prices are one of the reasons medical care is so expensive, this will certainly help for better pricing over time.
    Hmmm ….. and here I was thinking that liberals didn't think to much of a president lying ? I guess that only depends on what he is lying about huh ?? So now lies are okay … as long as they are something you agree with …. interesting concept you have there ..

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    For once, Obama really nailed it. Taking Pharma's money and then screwing them over is perfect. We need to keep healthcare costs down and over priced and over proscribed drugs are a major part of that cost. It also sends a nice message that you can't actually trust bribed politicians to stay bought.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by Whovian View Post
    What? President Obama going back on his word to someone after he got what he needed from them? I'm shocked!
    If you're expecting people to be outraged that Obama chose deficit reduction over corporate welfare (at least in this instance), I think you're going to be sorely disappointed. The government absolutely should be able to use its purchasing power to reduce health care costs. If the pharma companies don't like it, **** them.
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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Typical politician. It's good to see when snakes eat their own tho.

    The drug industry added that the Administration said it would oppose future Congressional efforts to re-import cheaper generics or other drugs from foreign countries like Canada.
    This is what he should have reneged on.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by megaprogman View Post
    Good. Exhorbitent drug prices are one of the reasons medical care is so expensive, this will certainly help for better pricing over time.
    so you advocate the President making a deal and then going back on it? Or just 'some' deals? It's ok for the President to lie 'occasionally', as long as it benefits the people you want it to?

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by Kandahar View Post
    If you're expecting people to be outraged that Obama chose deficit reduction over corporate welfare (at least in this instance), I think you're going to be sorely disappointed. The government absolutely should be able to use its purchasing power to reduce health care costs. If the pharma companies don't like it, **** them.
    Liberal: Presidents should never lie! Bush lied all the time! blah blah blah.

    Conservative:What about Obama lying?

    Liberal: That's different.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by Whovian View Post
    Liberal: Presidents should never lie! Bush lied all the time! blah blah blah.

    Conservative:What about Obama lying?

    Liberal: That's different.
    Which liberal? You think I am not pissed that extraordinary rendition still occurs? You think I am not furious that he still allows wiretapping and is certainly not the most transparent government in our history (as he said)? Yeah, no I am pissed and I think you will find that there are plenty liberals who do not mind venting their frustrations with this administration.
    Ted Cruz is the dumbest person alive.

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    Re: Drug Industry: President Reneges on Health-Reform Deal

    Quote Originally Posted by Whovian View Post
    What? President Obama going back on his word to someone after he got what he needed from them? I'm shocked!

    Drug Industry: President Reneges on Health-Reform Deal - FoxBusiness.com
    Who are these drug industry sources??
    Maybe it was the janitor.


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