Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (24717)	6/25/2008 10:57:59 PM
From: zeta1961	Read Replies (1) \| Respond to of 149317

Sure he as better qualities..it's about the lobbyists(and the culture that they've cultivated), on the most concrete level, for me..granted, I do believe firmly that he's the right candidate at this time, that it simply was not Hillary's time and it's not McCain's..but the latter is harder to put into a powerpoint.. Drugmaker lobbying hits record $168 million was spent in 2007 Wednesday, June 25, 2008 BY ROBERT COHEN STAR-LEDGER WASHINGTON BUREAU WASHINGTON -- The nation's drugmakers spent a record sum last year on lobbyists to influence Congress and Bush administration policymakers on a broad array of issues effecting their financial well-being. The Center for Public Integrity, a Washington, D.C., watchdog group, reported yesterday pharmaceutical manufacturers and their trade groups doled out $168 million on lobbying in 2007, a 32 percent jump over 2006. The 2007 expenditures raised the amount spent by drug interests on federal lobbying in the past decade to more than $1 billion, the center said. "As the biggest lobby on the Hill, the pharmaceutical industry wields tremendous influence that impacts everything from prescriptions to patents," the center's executive director, Bill Buzenberg, said. "The central point is that their massive spending has been highly successful, largely producing the political results the drug industry wants." The center said the political shift in Congress from Republican to Democratic control helped drive the drug industry's record lobbying spending in 2007. Issues on the agenda included so-far unsuccessful Democratic efforts to permit government negotiation of Medicare Part D prescription drug prices and to allow "reimportation" of lower-cost drugs from abroad. The drug industry also has faced a number of congressional inquiries into drug safety and marketing, has lobbied heavily on patent reform issues and has sought greater access for U.S. drugs in international free-trade agreements. In addition, drugmakers had major input in legislation that added post-market drug safety measures and renewed industry user fees paid to the Food and Drug Administration for the review of new drug applications. The industry also has lobbied heavily on pending legislation that would create a system for approving lower-cost versions of expensive biologic medicines. The center said more than 90 percent of the spending on lobbying was made by 40 drug companies and three trade groups: the Pharmaceutical Research and Manufacturers of America, the Biotechnology Industry Organization and the Advanced Medical Technology Association. PhRMA spent almost $23 million last year, a 26 percent rise from 2006. Among the drug companies, biotechnology giant Amgen spent the most on lobbying, at $16.2 million, followed by Pfizer, the world's largest drugmaker, at $13.8 million. The watchdog group also said in the current election cycle beginning in 2007, the pharmaceutical and health-products industry gave $14.4 million in campaign contributions to federal candidates. It said more than $6.8 million of that money went to members of three committees that r egulate the industry: the House Committee on Energy and Commerce, the House Committee on Ways and Means and the Senate Committee on Health, Education and Labor. In addition, the center noted the industry has dramatically increased donations to the Democrats since their victory in November 2006. In the current election cycle, the center said the pharmaceutical and health-products industry has given slightly more money to Democrats than Republicans. During the 2006 cycle, Democrats received only 31 percent of the contributions from the industry, while Republicans received 67 percent. nj.com