Big Pharma to make billions, thanks Obama and Congress!

No, you did not enter a time warp and read about President Bush and the Republicans passing a corrupt prescription drug bill written by lobbyists. Yes, it's 2009. You ready for this?

Pharma Deal With White House On Course To Net Industry Billions:

The deal struck between the pharmaceutical lobby, the White House and Senate Democrats has drastically improved Big Pharma's expected profits, a private industry report finds.

IMS Health, a company that supplies the pharmaceutical companies with sales data, predicts that new health reform legislation -- combined with a projected upswing in the economy and other changes in the pharmaceutical industry -- will result in a net gain of more than $137 billion in total market sales over the next four years.

Read the entire Huffington Post article for the response from PHrMA, the pharmaceutical lobbyist group.

Obviously no one considered stopping the flood of TV advertisements for useless dick stiffing drugs 24/7 to help reduce costs. Nah.

Here's my favorite quote on how insurance premiums will rise:

The structure of health care reform, as IMS goes on to note, will have benefits for the federal government, which could save an estimated $30 billion from 2010 through 2019. Patients, meanwhile, would be paying higher premiums -- roughly five percent more by 2011 -- in return for what the report calls greater "protection against incurring higher drug costs." The real beneficiaries of reform, however, would evidently be the pharmaceutical industry.

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