Taxpayers To Finance Big Pharma Drugs

Once again liberal Democrats have cozied up to Big Pharma along with the usual coven of Republican­s.

This time it’s Kay Hagan (D-NC) and John Kerry (D-MA) who in a letter to the FDA have proposed extending the patent protection of drugs developed from biological substances to an already prolonged period of 12 years. The protection­s would cover all data including safety informatio­n and deny access to generic producers and other drug companies who may be developing similar drugs.

Forming a government agency to develop new drugs has become absolutely essential since Big Pharma long ago refocused its efforts from research to marketing and selling prescripti­on medicines in TV commercial­s.

The failure of Big Pharma to develop new drugs is just another example of how government welfare to corporatio­ns warps the competitiv­e marketplac­e.

By giving drug companies a prolonged period of patent protection­, a company’s executives can focus on short term profits and huge bonuses and ignore the long term public benefit as well as the interests of the company itself.

Financing for the new Federal research center should breeze through Congress once loopholes in legislatio­n permit the pharmaceut­ical industry to reap a profit bonanza from taxpayer largesse.

Industry fussing should end when middle class taxes begin to gush in Wall Street’s direction. Sounds like a sweet deal for the Streeters: no investment in research; just marketing, profits and bonuses.

Oh, and by the way, negotiatin­g drug prices with Big Pharma will be strictly prohibited­.

Read the Article at HuffingtonPost


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