Big Pharma fears Dem majority, end of Medicare racket
News TargetPosted: November 2nd, 2006 by Steve Trinward
Author: Jessica Fraser
“U.S. pharmaceutical companies could face falling profits if Democrats win the majority in the House of Representatives in the upcoming November 7 elections. Campaigning Democratic candidates say they will push legislation that would allow Medicare to negotiate lower prices for its 42 million elderly and disabled beneficiaries, as well as increase government oversight of the drug industry. Experts predict a Democratic House will spark negative publicity for pharmaceutical firms, as well as pressure stock prices. Polls currently show Democrats in the lead to take control of the House, though experts believe Republicans will maintain control of the Senate, making legislation passage more difficult.” [editor’s note: This is ostensibly a “news” piece, but its insightful analysis tips it into “commentary.” - SAT] (11/01/06)