(PRWEB) February 20, 2014
Politics have a greater direct effect on the pharmaceutical industry than almost any other in the US, and correspondingly, pharma makes considerable investments in election campaigns. The November elections kept the face of Washington the same, with the re-election of President Obama, Democratic control of the Senate and Republican control of the House. However, the outcome of the elections will still impact the industry in a variety of ways.
The Medical Device Excise Tax, a component of the 2010 health care reform legislation, survived a pre-election Congressional effort at repeal, but a coalition of House Republicans and Democrats from key states are looking to try again. Post-election, another bi-partisan congressional group is pushing for the FDA to impose stricter regulations on certain painkillers. Meanwhile, the Administrations prioritization of generics at the FDA remains controversial.
The budget impasse and resulting sequestration are election fall-outs that may impact the pharmaceutical industry in a number of ways: decreased vaccine sales, reduced research funding and potential cuts at the FDA that could dramatically raise time to market. Medicare reform also looms out as an issue un-resolved in November, with the possibility of playing a role in the mid-term elections
The report, The Politics of Pharma - Washington, States and the Courts Impact on the Industry was written to provide companies with an update and future outlook of how the political atmosphere within the United States will impact the pharmaceutical industry in both the near and long term. This report should be used by both large and small organizations alike, as well as branded and generics manufacturers.
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