To give you a sense of how worried the pharmaceutical industry is by a California ballot initiative that would force them to offer big discounts to low and moderate income Californians, consider these figures:
- Pharma companies, PACs, and employees spent $9.8 million on all federal elections in 2004
- The Pharmaceutical Research and Manufacturers Association (PhRMA) has already raised $40 million from its members to fight the CA initiative, including $8.5 million each from GSK and Merck. Wow!
The companies are concerned because the initiative would discourage Medicaid (the state run program for the poor) from doing business with companies that don’t offer the discounts.
You can read more in the New York Times (Rival Discount Plans On Fall Ballot in California)July 8, 2005