for legislation you know it's NOT going to be good for consumers. Of course, the liberal media is doing such an excellent job in showing you it is such a huge windfall for the pharma industry.
How much was spent on lobbying
The trade association, the Pharmaceutical Research and Manufacturers of America, known as PhRMA, will spend at least $150 million in the coming year, representing an increase of 23 percent over this year's budget of $121.7 million, fighting price controls around the world, subsidizing "like-minded organizations" and paying economists to produce op-ed articles and monographs in response to critics.
Where the money (which comes from dues will total $143.8 million in the coming year, an increase of 24 percent) is going:
— The drug trade group plans to spend $1 million for an "intellectual echo chamber of economists — a standing network of economists and thought leaders to speak against federal price control regulations through articles and testimony, and to serve as a rapid response team."
— In its budget for the fiscal year that begins on July 1, the pharmaceutical lobby earmarks $72.7 million for advocacy at the federal level, directed mainly at Congress; $4.9 million to lobby the Food and Drug Administration; and $48.7 million for advocacy at the state level.
— In addition, the budget sets aside $17.5 million to fight price controls and protect patent rights in foreign countries and in trade negotiations.
— The PhRMA budget allocates $1 million "to change the Canadian health care system" and $450,000 to stem the flow of low-price prescription drugs from online pharmacies in Canada to customers in the United States.
Much more on this topic here:
http://bernie.house.gov/documents/articles/20030602123259.aspHow much pharma industry stands to gain
An estimated 61.1 percent of the Medicare dollars that will be spent to buy more prescriptions will remain in the hands of drug makers as added profits. The windfall means an estimated $139 billion dollars in increased profits over eight years for the world's most profitable industry.
At $17 billion annually, this means about a 38 percent rise in drug maker profit.
The legislation explicitly prohibits Medicare from acting to negotiate or contain the drug prices paid under the new program. Of the $228 billion of $400 billion in new federal spending over next eight years, 75.6 percent will go to drug manufacturers as gross income.
Drug makers' net increase in profit is estimated at $139.2 billion over the eight-year life of the program.
PDF report on New Medicare Rx Benefit Means Big Profits for Drug Makers
http://www.healthreformprogram.org/Bernie Sanders has an excellent, easily digestible Web site covering the pharma industry:
http://bernie.house.gov/prescriptions/index.asp