Obamacare Strategy is to Reduce Profits of Drug Companies

26 Mar

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Watch this video of Health and Human Services Secretary, Kathleen Sebelius, as she states that the strategy of the Obama administration going forward is to reduce the profits of drug companies…..by up to $90 Billion.

That sounds like a great idea, as long as you are ok with research and development of new drugs drying up.  The discovery of new drugs is a very lengthy and costly process. U.S. investment in drug R&D was $382.6 Billion in 2009.  But that doesn’t matter.  They make too much money and Obama will not stand for it.

I’m not saying that the drug companies are angels, but you never hear the media talk about the time, effort and money that goes into making the drugs that help millions of people on a daily basis.  All you hear about is the “unconscionable” profits.

It appears as though Obama and the Democrats have the pharmaceutical industry in their crosshairs and are well on their way to destroying yet another sector of our economy, which will lead to even higher unemployment.

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One Response to “Obamacare Strategy is to Reduce Profits of Drug Companies”

  1. Burg Boy March 29, 2010 at 12:11 pm #

    This is incredible…I love how she points out the so-called donut hole which is a gap in coverage for seniors who have to pay 100% out of pocket for a period of coverage. Thats right…the drug companies created that plan. I forgot…thanks for the reminder. Chad…you couldn’t be more right. Lets reduce profits for big pharma by 90 billion, lets reduce the incentive to continuing to look and profit better healthcare coverage through better drugs. There is no incentive and if you start reducing profits then that is gonna lead to down sizing of drug companies which once again means more unemployment. What a joke…I’ll say it again for anyone that will listen to me…Here is the real problem when it comes to drug coverage…CVS, WALGREENS, PUBLIX, WAL-MART…Take your pick. Did you know that 80% of CVS profits come from the pharmacy…and not the confectionary products you walk by to pick up your drugs. Hey…I’m not saying we don’t need a third party but do they have to be on every street corner. It’s a joke. Where do their profits come from…drugs and they don’t do a damn thing. No research and development. No lawsuits…they sit back bag you up for your co-pay and make a profit. You might want to look at the entire picture instead of blaming drug companies for making to much profit which directly goes back into RnD and pays for the hundreds of drugs that never make it to stage 3 testing.

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