More Failure From the Fiscal Cliff Deal: Drug Maker Gets Huge Gift Worth Millions

Let’s just send Congress home. The longer they are up there the more ways they find to jack the system for their benefactors, in this case the pharmaceutical company Amgen.

In fairness I don’t think drugs should be subject to price constraints (in an ideal world in which markets are allowed to work) and that the system which encourages such restraints is fundamentally flawed and probably costs some people their lives.

Saying that, Amgen knows the game and this is a big gift.

(From The New York Times)

Supporters of the delay, primarily leaders of the Senate Finance Committee who have long benefited from Amgen’s political largess, said it was necessary to allow regulators to prepare properly for the pricing change.

But critics, including several Congressional aides who were stunned to find the measure in the final bill, pointed out that Amgen had already won a previous two-year delay, and they depicted a second one as an unnecessary giveaway.

“That is why we are in the trouble we are in,” said Dennis J. Cotter, a health policy researcher who studies the cost and efficacy of dialysis drugs. “Everybody is carving out their own turf and getting it protected, and we pass the bill on to the taxpayer.”

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