Thursday, February 23, 2006

Profits to make you sick

Republicans like to say that health care costs are skyrocketing because of lawsuits. I'm guessing it has more do to with things like this from the American Progress Action Fund:
HEALTH CARE -- GENERIC DRUG APPLICATIONS REMAIN BACKLOGGED DESPITE PR PUSH: Food and Drug Administration officials held a news conference announcing the approval of a generic version of the popular allergy spray Flonase. "The heightened attention may have been intended to rebut criticism in recent weeks that the agency is falling behind in its review of generic-drug applications," the New York Times reports. Despite a backlog of 850 generic drug applications, the Bush administration has not proposed an increase in the Office of Generic Drugs's budget. Prescription drug companies are working hard to slow the approval process, as GlaxoSmithKline demonstrated in its treatment of Flonase. These companies know a generic drug "usually costs 60 to 90 percent less than the brand-name version," and they want to remain one of "the nation's most profitable" industries.
Perhaps if the Republicans stopped protecting the very, very profitable drug manufacturers, we could see some reductions in the cost of health care. Just how profitable are they? The top ten pharmaceutical companies make more than the rest of the Fortune 500 combined. And they are doing it by keeping it you and your family from getting generic versions of drugs.

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