Medicare Part D A Big Money Maker For Drug Companies

July 28, 2008

The House Oversight and Government Reform Committee have come out and stated that Medicare Part D is proving to be a big money maker for drug companies...Washington (ChattahBox) – The House Oversight and Government Reform Committee have come out and stated that Medicare Part D is proving to be a big money maker for drug companies.

The report released focused on Medicare Part D, and how it is being implemented to this point.

They found that in the first 2 years of the Medicare prescription program alone, drug companies have made over $3 billion from it.

Rep. Henry Waxman stated that the drug companies are getting more money now than if patients were just on Medicaid, as tax payers are having to pay 30% more than in the past.

Waxman called it “an enormous giveaway. And it has absolutely no justification.”


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