this next story is one of the reasons that i do this show because isle of the
fine things like this out and ship yes
so you understand
how politics in our world
really works in our government really works it's a fantastic article
from time magazine
uh... from time to time we get on the uh... old media
uh... for you know didn't pressure dates that are set up but form time to time
they do fantastic journalism i'm gonna
put this on a twitter account a link to a cv yourself now that's where i was
getting that uh... statistic from last segment so let me clarify that one for
you first
uh... this story is about
the drug industries and the biotech industries
what they called
biologics day those are
uh... new kind of medicine that is not your traditional kennel kobe's
pharmaceuticals
and it cost more
is in the ups and downs that first
how much money they spend our time
insists dunning come out
just these
drug companies
not the other parts of the health care industry just broke up
first of all
they have one thousand two hundred and twenty eight lobbies
that is to point three
lobbyists for every member of congress
so every public right of his two point three
lobbyists
just drug company lobbyists they're chasing them around and giving them
money
do you know how much money that they have spent
in the first six months of just this year lobbying congress
one hundred and ten million dollars
that is the equal it
of six hundred and nine thousand dollars
every single day
now if you actually saw that with your own eyes
you couldn't believe it right if everyday
spurted robot
with a truck
and dumped six good night and loving dash
beverly capitol steps elat
it's got all my attacks obviously
organize bribery this is insanity
but they do it may write checks and nobody notices
perfect example of that was
inside henry waxman's committee in the house
they're gonna have a boat on how long
they get to keep their patents and their monopoly
that is important
uh... what it means what happens in the drug industries they say look in order
for us have incentive to spend a lot of money to come up with innovation
if we come up with some in this breakthrough
we need a certain period of years where you can't have generic drugs competing
with us
that we need to make money off the drugs so that makes sense to do that kind of
investment in a bit in the in innovation
that is a that is totally true
that makes sense that's right
we've got a great breakthroughs in science fiction
but what waxman did back in the nineteen eighties actually believe it or not with
orrin hatch of all people very conservative
from utah
was they said all right look unit made a tremendous amount of money from your
monopoly
forty cap your monopoly
a new patent for five years
and after five years generic drugs get sick get to compete with
its own eg i think probably a pretty good balance
between whatever word you so that you wind up
doing this innovation
well we don't want to let you just keep overcharging
uh... the american people for ever and make if seen profits
when we get generic drugs that cost a lot less
is that money's coming out of our pockets
remembered right
these biology them
biology xx drugs
cost twenty times traditional drugs so it's very very expensive
when in the eighties they got that passed for regular tracks corporate
raider prescription drugs
they argued waxman attached to it and give credit to hatch here he was back
then you don't look at that
not working with the industry and actually looking out for the american
people
um... that they've gotten bought by lobbyists more and more as the years
have gone by
uh... they claimed that with a received a billion dollars
during doings
it turns out they saved
seven hundred and
thirty-four
billion dollars
now if they have set on a year to keep your patents for longer
hundreds of billions of dollars that would come out of
our pocket
and into the part of the drug companies
now we want some of that going over there
to encourage them
to spend on innovation ibd said that three times
so what's the right balance that's the question at hand
so now for these new kind of drugs the that cover the biotech companies
henry waxman suggested five years ago make sense reid that work before it's
the right balance in his mid opinion opinion
many others
so he suggest that in his own committee which is the chairman of so he's a good
guy here
and uh...
democrat
anna issue
says no no no no no
let's have a vote on this
because we think they should get
a longer
a monopoly issue other monopoly for a longer period of years
you know what she wants
originally the drug companies asked for ten years
like let's double it let's go crazy list repertory news right
uh... no
uh... bought out congressmen and in this case right
we knew better
let's give it well
and the programmers are really
so we had twelve
as right as they do
at twelve o'clock weighs about two of us that it was
now i think i'll bomb a white house are you live with their compromise here
they're pushing percent seven years
art look idon't lovett i'd prefer five years but its
it's a balancing act angle it was seven
twelve years is outrageous
it's highway iraq
whose all those years repeat
hundreds club
billions of dollars out of our pocket
in a drug companies when they've already made a gigantic profit
at amich at market is already rewarded them for their innovations
so what happened
and henry waxman realizes girl loses all these people are bought
for under ten million dollars in the last six months
the didn't bite on their bar right
so it is alright alright will do it by uh... i just a voice vote and get it
over with
he and
this is critical part i'd love the sport
congressman or councilman tissue says
i demand a roll call votes
rats were everybody has to go on the record
you know why
it's because the drug companies told her to do that because they want to know
did i get my money's worth
now if i paid you congressman i wanna make sure you're on the record
they do a roll call book
you know what the boat was
forty-seven two eleven
in that committee
a crushing victory for the drug companies
ault in was because of what they saw was gonna pass all the time for a likely a
meeting with your money and such
benefit if independent of on yourself
so they all got paid i get a load of how brazen there jim greenwood a former
pollen congressman from pennsylvania now has the biotechnology industry
organization
so one of the top lobbies
we've done very well
we carried a majority the democrats on a majority were pollens in each of the
committees
and by perry clear margins
when i had a lobbyist for that group says we've done very well
tech news you just have it in the cat
buddies
the united states citizens early pace so much you have no idea you poor schmuck
and that's how politics works
they got bought sold-out waxman gave it a shot
bulldoze
and is
there's a small part of health care thing is a very coloradans now
that's part of the package they threw it into the house version
whistles through the strong aversion
so of course the senate's can agree to it similar they happen in the ultimate
uh... somebody objected
all those that's the senate side
easily
all you know one of the ice is a favorite on the senate side too
wrestle sold out
ted kennedy as low top high-tech companies
uh... in the countries in massachusetts
eighty five million dollars to a charity of ted kennedy's
twice more then any other
organization gave that sharon
andy's guidance
uh... you know
company in his own home state he's taken the money et cetera et cetera and back
when he was alive he was they were not even having a debate it's over yeah
thats
the drug companies get their way here they have their patent protected for
twelve
long years
it going
did take him out of money
while we're talking about nichols and i'm sure you look at the money that they
stayed on
prescriptions or you know what
forget that i give the exact estimates
former clinton administration official robert shapiro he's consulted both the
biologics companies and the prescription uh... the generic competitors so he's
consult the boat
so he's as on by scissor and yet in this case
he thinks the generic versions of just a top twelve categories of
biologics
whose parents of expired or will expire soon
could save americans
up to one hundred and eight billion dollars over next ten years
about over the next twenty years
three hundred and seventy eight billion dollars
well were fighting over nicholson dot
easily
to the problem with the billion dollar stock
best investment you can make in america
despite your local congressman or senate
by them put them in your back pocket
and l delivery or hundred full return on investment
that's how politics works now
funny that what we give credit to orrin hatch there
herb what he did back in nineteen eighty four
since then he's been at the bottom absent sellout
that since eighty four but
developing and now he's full-blown slip sold out
and have installed
all i'm sorry i haven't thought about howard bingham that's store
that's a excellence sample
uh... howard dean
they said it should be twelve e
he says no it's my
at expert opinions about
uh... he's also been hired
finalize
by the drug companies
uh... is
former adviser to a trippy
uh... has written a blog about how it has to be twelve years now makes perfect
sense what he didn't tell you is the top lobby for the
uh... biologics companies created too wet campaigns in them and they hired
winds
joe trippy
of course now howard dean says i wouldn't do this if i didn't believe it
um...
but you know what if you're taking money from them and he's consulting for a law
firm
that has a deep roster biologics finds i don't trustee
you excuse me if i don't trust you if you're getting paid by the guys you tell
me
need to make a whole lot more money
you had a very large trust every single day and
that is not the waiter
so and pilot that some people get corrupted
of my guess is if you ask our being injured trippy
they really in their heart of hearts
and they think in their mind a mines
and i'm giving them a huge benefit of doubt here maybe i should
they probably think on i really do believe
but when somebody pays you a lot of money to believe it
you want to kinda believing it
might happen to me to let out on the look at okay
you should be on the lookout
look at where people are getting paid
and what their motivations
now as it stands we get paid by you guys
the members prepare
of our website in our show and so are
you are made his pictures
you oughta soap i got to get you the truth
as best i can
otherwise a fire