Inside The Pharmaceutical Lobby's Campaign For More Government Subsidies Through Medicare Part D [Forbes]
GSK plc American Depositary Shares (Each representing two Ordinary Shares) (GSK)
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Source: Forbes
Inside The Pharmaceutical Lobby's Campaign For More Government Subsidies Through Medicare Part D Senate Finance Committee ranking member Sen. Ron Wyden, D-Ore., left, sitting next to committee chairman Sen. Chuck Grassley, R-Iowa, right, speaks during a hearing. (AP Photo/Susan Walsh) ASSOCIATED PRESS Senate health care leaders have developed a bipartisan, fiscally responsible way to reduce the cost of the Medicare prescription drug benefit, also known as Medicare Part D. But pharmaceutical companies, in a furious lobbying effort, are trying to blow up the deal by demanding that taxpayers spend tens of billions on drug industry subsidies. Lowering drug costs for seniors and taxpayers As I discussed last month The proposed legislation would cap seniors’ out-of-pocket costs in the Part D program at a fixed level, perhaps $2,500 a year. Capping out-of-pocket costs in this way would give drug companies an incentive to jack up their prices, because seniors would no longer notice any price
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