American Crossroads Attacks Harry Reid For Not Bringing Nevada Enough Stimulus

pharmaceutical industry cuts

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$80 billion over ten years. $8 billion a year. From the third most profitable industry in the US. In 2007 alone, the top 12 drug makers' profits were $80 billion.



PhRma's most profitable member, Novartis, netted $12 billion in 2007. In 2008, Novartis's profits were up 25% over that, and in 2009, profits were more than 20% higher.



The American taxpayer has been subsidizing pharmaceutical companies for decades with the promise that the R&D we were paying for would result in lower prices and breakthrough cures. Instead, we've been stuck with higher prices (twice as much as other industrialized countries) while the pharmaceutical companies try to snag new markets overseas with what were to be our discounts.



Not only did Obama break his campaign pledge (of the government, PhRma biggest customer, negotiating for lower priced drugs, and reimporting pharmaceuticals), he gave PhRma a huge gift.
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