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Say Hello To Big Pharma’s New Best Friend – Elizabeth Warren!

On January 29, 2015,  Warren unveiled new legislation called the Medical Innovation Act, which would substantially increase federal funding for the NIH by requiring blockbuster drug companies to pay a portion of their profits when they break the law and enter into settling agreements with the government.

“It’s like a swear jar,” stated Warren. “Whenever a huge drug company that is generating enormous profits as a result of federal research investments gets caught breaking the law — and wants off the hook — it has to put some money in the jar to help fund the next generation of medical research.”

During her remarks on the senate floor, Warren presented a scathing indictment of drug companies illegal activities, pointing outrepeated instances of defrauding Medicare and Medicaid, withholding critical safety information, marketing drugs for uses they aren’t approved for and giving kickbacks to doctors for prescribing drugs.  She pointed out that the drug companies have paid out billions of dollars in fines and consider this expense as a part of doing business.

So what does the senator from Massachusetts do to address this problem?  Instead of introducing legislation to to stop the intentional crimes being repeatedly committed by the drug companies, she  instead drafted a bill that in essence condones and encourages the illegal behavior! This bill just assumes this recurring problem will continue and takes advantage of it by requiring the drug companies to “reinvest of a small percentage of their profits into the National Institutes of Health”.

Here’s another little fact about that “reinvestment”. What happens with that money? Oh yeah, it funds the creation of NEW DRUGS FOR BIG PHARMA.  Maybe her next bill will propose that repeat offender meth dealers should invest money in the Mexican cartels.

Listen as we explained more of the details on the show yesterday:

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