24Nov/090
White House Deal w/ Drug Companies = Failure
The drug companies compromised with the Whitehouse to cut costs by $80b over the next 10 years.
The drug companies then jacked prices by 9.3%. They are now earning $10b per year more than they were before.
The net difference... The drug companies are now earning $2b more each year.
Of course, this is because they have a monopoly. 78% of the market is patented drugs but the limit of patents was raised from 5 years to 12 years.
This is a great deal negotiated by Obama. What a freaking joke.