Analysis Of Big Pharma s Power Over Congress - 1883 Words

Even if reference pricing when brought to market did work effectively without stifling innovation, the process of creating a new act to instate a reference pricing law would be far too long and drawn out to make such a risk worthwhile. Just getting such a bill to the point where Congress would vote on it would be a long and winding road of pushing the bill through committees and rewriting parts of it to get the house and senate to even consider passing it, likely taking close to a year if successful. And even getting to the voting stage, such a bill would have a very low chance of passing through Congress. This is because, as Mundy states, â€Å"Big Pharma’s power over lawmakers in both parties,† makes it extremely difficult for such a bold†¦show more content†¦It, as stated earlier, has many of the same traits that commonly posed solutions like reference pricing do. But it takes what these solutions have and expands upon it, by encouraging innovation rather t han stifling it and offering the important power bestowed to Congress to march-in when not properly enforced. Although stated in the act that Congress may march-in when the guidelines of the act are not being followed (as they aren’t), the government has never once exercised its right to march in, and there only has been â€Å"five attempts (petitions from patients, advocacy groups, or corporations) to get the government to invoke march-in† rights (Mundy). Also, â€Å"Bayh-Dole has never been publicly discussed by any administration† so far (Arno and Davis). The lack of action by Congress can be attributed to pharmaceutical company’s hold on Congress as mentioned earlier, and the lack of public knowledge or push for the act. With only five attempts by the public to get Congress to march-in and not many institutions really talking about the Bayh-Dole Act, it’s no wonder not much has been done. If more attention were brought to the Bayh-Dole Act thro ugh petitions and focus groups as Mundy discusses, Congress could be more eager to exercise their march-in rights. Also, if more government agencies such as the National Institute of Heath talked about the Bayh-Dole Act and itsShow MoreRelatedMergers and Acquisitions in the Pharmaceutical Sector Since the Last 10years to Cope with the Mutations of This Sector.7658 Words   |  31 Pagestypes of mergers in the pharmaceutical industry 3.2 Mergers and acquisitions process 3.3 Main strategic reasons a) Financial reasons b) Offensive reasons c) Defensive reasons d) Other reasons 4. The example of Pfizer’s take-over on Wyeth p.19 Conclusion p20 References p23 During the first two years of my studies, the international marketing file represents a determining exercise of our business training. IndeedRead MorePharmaceutical Industry Ethical Practices13569 Words   |  55 Pageswhich help us in improving this report. 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