Big Pharma Loves Harry Reid

WSJ ^ | 051010 | WSJ review and outlook

[Fred]

Senate Majority Leader Harry Reid is down in the polls and fighting for re-election, so he's lucky to have a wealthy, new benefactor in his corner. The unions? The greens? Try the drug industry.

A new TV ad is up in Mr. Reid's home state praising the Democrat for creating "good Nevada jobs," expanding "clean energy" and providing "tax credits for small business." Moreover, "thanks to Harry Reid's leadership, if you change or lose your job, you can keep your health care coverage." The ad encourages viewers to call Mr. Reid's office, where no doubt they will be routed to his donation line. All this is courtesy of the Pharmaceutical Research and Manufacturers of America, in league with the liberal health-advocacy group Families USA.

If it seems odd that drug makers are working to re-elect the Senator who passed legislation to rule the health-care industry, welcome to post-ObamaCare politics. Big Pharma and health insurance companies are betting on short-term rent-seeking from legislation that subsidizes Americans to use more of their products—so the ad is partly a thank you to Democrats for new customers. But it's also political protection. With their business model in the hands of government, the drug makers have to make sure the government doesn't squeeze them in the bottom line.

The new ad follows news that America's Health Insurance Plans, the insurance trade gro

[Dr. Bogus Pachysandra]

He’s undoubtedly promised them to push this;
http://www.freerepublic.com/focus/f-news/2504584/posts

[GeronL]

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