St. Pete Times Buzz: Sen. Bill Nelson Slams President Obama's Drug Plan, Pushes for Deeper Savings

[flpoljunkie]

December 03, 2009

Sen. Bill Nelson slams President Obama's drug plan, pushes for deeper savings

Florida's Democratic Sen. Bill Nelson today said he would continue to push for deeper prescription drug savings in the health care bill and again rebuked a weaker deal worked out by the Obama administration.

Nelson was acting on a Morgan Stanley report that showed big pharma would recoup $58 billion of the $80 billion in savings through increased sales. He also cited reports that drug makers have already begun to jack up prices.

“In other words,” Nelson said, “it seems the drug industry will pay next to nothing for health care reform." Nelson’s amendment would force the drug industry to give up what he terms extra profits worth about $106 billion over 10 years.

Nelson said the $106 billion would eliminate the so-called doughnut hole gap in Medicare drug coverage with more than $50 billion left over. The savings could be applied to the national deficit, Nelson said in a news release.

Nelson tried to offer the amendment during the committee process but failed.

http://blogs.tampabay.com/buzz/2009/12/nelson-slams-obamas-drug-deal-and-pushes-for-deeper-savings.html

[flpoljunkie]

1. Guess the 'unrecommender' didn't read this part. Let's hope Nelson gets a vpte on his amendment!

Nelson was acting on a Morgan Stanley report that showed big pharma would recoup $58 billion of the $80 billion in savings through increased sales. He also cited reports that drug makers have already begun to jack up prices.