Monday, August 10, 2009
President Barack Obama’s newfound friendship with the drug industry’s top lobbyist is beginning to pay off. The Pharmaceutical Research and Manufacturers of America (PhRMA), which represents drug companies in Washington, DC, is planning to launch a $150 million advertisement campaign to support President Obama’s healthcare reform plan, with the first TV ads expected to run this month during Congress’ August recess.
The large advertising budget is greater than what Republican presidential candidate John McCain spent on TV commercials for his entire campaign last year (Obama spent $236 million), and it is more than any other group supporting the reform effort will likely spend, including labor unions and other business groups backing the president. Although the drug industry has promised to trim $80 billion in costs from the healthcare system over a 10-year period, it is expected to make millions from new customers who gain access to health insurance if the reform plan goes into effect.
-Noel Brinkerhoff
Drug Industry to Run Ads Favoring White House Plan (by David Kirkpatrick, New York Times)
Obama’s New Friend: Powerful Drug Industry Lobbyist (by David Wallechinsky, AllGov)
Comments