PhRMA president calls Obama policy ‘wrongheaded’

PhRMA president calls Obama policy ‘wrongheaded’ – Washington Times.

“When the president presented his deficit-cutting plan last week, he included measures that will drive up drug prices and squash investment in companies that develop drugs and medical devices, said John Castellani, president of the Pharmaceutical Research and Manufacturers of America (PhRMA).

The industry is especially fuming over Mr. Obama’s push to reduce the length of time a company can produce biologic drugs exclusively by paring the patent protection time frame from 12 years down to seven.”

I guess they must know better than people who actually run the business.

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