While many have been left behind by Part D, there is a clear winner: the drug industry. Independent analysts predict that Part D will increase drug industry profits by $139 billion over the next eight years. Glaxo-SmithKline's second-quarter net income already jumped 14 percent, and other leading drug companies also have benefited.
The procedure used to pass Part D was the worst abuse of the legislative process I have seen during my 20 years in Congress. Powerful Republicans quashed conscientious amendments to the bill, including one requiring the administration to negotiate lower drug prices and another allowing Americans to import cheaper drugs from Canada. And during the conference process by which the House and Senate versions of legislation are reconciled, Democratic legislators were shut out, but lobbyists from the pharmaceutical industry were invited in.
Louise Slaughter represents the 28th District in the U.S. House of Representatives.
Source: Give Medicare Program Total Overhaul; Don't Just Fill 'Doughnut Hole' (The Rochester Democrat and Chronicle)