Gee -- I wonder why?
Could it be, after Merck announced, earlier in the week, that it still opposes one of the central planks of President Obama's U.S. health-care reform plan, it is out of step here with other large U.S. pharma concerns? I think so -- Merck openly opposes any government-sponsored health insurance fund. I think Whitehouse Station is going to need to curry a lot of extra-favor, just to move the ball forward, at all -- per the AP Wire, as picked up by Forbes, overnight:
. . . .[Merck's] tally was up nearly 50 percent from the more than $1 million Merck spent lobbying in the year-ago period.
According to a recent disclosure form, Merck lobbied Congress and the White House on health care reform issues including increasing coverage for uninsured people, requiring research comparing the effectiveness of different medical treatments and keeping a private-sector health care system.
Whitehouse Station, N.J.-based Merck . . . also lobbied against allowing cheaper prescription drugs to be imported back the U.S. from countries that impose price controls. Proponents say these imports would help drive down U.S. drug prices; domestic drugmakers argue this would let in risky counterfeit products.
The Food and Drug Administration on Friday said Merck and other companies have to raise label warnings about psychiatric problems reported by a handful of patients taking Singulair and other asthma drugs. . . .
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. . . .Adam Schechter, head of global pharmaceuticals for Merck, earlier in the day [Wednesday June 10, 2009] told an audience at the Goldman Sachs conference that his company opposes the idea of a government health plan that would compete with private insurers. . . .
3 comments:
you can bet that a lot of the money will be targeting NJ senators and reps. With all the layoffs already hitting NJ (including the downsizing of Wall Street), the pharma industry will pressure the NJ politicians to back off reform that cuts into the corporate dollars with the promise to minimize cuts in the state.
50% more spent by june, and we're half way through the year. The 50% is deceiving. if it continues at this level, it will be 3M vs. 1M last year or 200% increase.
And SGP's spending is up as well.
What on Earth could a disappearing company legitimately be lobbying for?
Lower income taxes -- for its executives, on the cash portion of the reverse merger payouts?
Color me chagrined.
Namaste -- Thanks, folks!
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