Feb 8, 2007

Why Are Prescription Drugs So Expensive

As previously posted in my article Pfizer Has No Cure For Michigan’s Headache and Health Insurance The Wild Card the health care industry is operating outside of any economic realities. Costs have consistently raised at 2 to 3 times inflation, medical coverage has gone up so much and has become such a problem, that in a recent CNN survey 43% of company CEOs consider health insurance premiums the #1 threat to their companies future.

So it came as no surprise when I read Insiders article
Pfizer's decimation - will the lobbyists be cut? On his/her blog PharmaGossip:

“According to the
Centre for Responsive Politics, in 2005 there were 2,326 registered pharmaceutical lobbyists. That amounts to 4.3 lobbyists for every member of Congress, and the drug companies spent $146,783,853 on their efforts.”

”And the Center for Public Integrity reports that between 1998 and 2005, the industry spent over $675 million on federal lobbying”