Will greed doom Big Pharma?

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At this point, one can only hope.

The recent deal announced by pharmaceutical giant Pfizer to in effect leave the United States for the purpose of evading corporate taxes calls into question why Congress continues to protect this industry.

Many in Congress, particularly Republicans, have resisted efforts to permit Medicare and Medicaid to negotiate for bulk pricing for drugs Americans need. The system is broken and we’re all paying for it.

Now we have Pfizer moving forward with a merger to change its tax status, and lobbyists are now warning this this may be the tipping point.

Let’s hope we’ve reached the point where the politics around the behavior of Big Pharma becomes so toxic that we finally get progress on drug prices and these corporate schemes to avoid taxes.

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