February 14, 2012

USA: Drugmakers, Hospitals Targeted for Cuts in Obama’s 2013 Budget

NEW YORK, NY / BusinessWeek / Bloomberg / February 14, 2012

By Alex Wayne


President Barack Obama’s budget plan would trim spending on federal health programs at the expense of drugmakers, hospitals and nursing homes while seeking nearly $1 billion for carrying out the 2010 health-care law. The fiscal 2013 blueprint, released yesterday, contains a package of changes to Medicare, the U.S. health insurance program for the elderly and disabled, and Medicaid, the health plan for the poor that would help save $362 billion over a decade to slow medical spending. Drug companies led by Pfizer Inc. would have to provide $156 billion in discounts over the next decade for medicines sold to low-income senior citizens, on top of $80 billion in discounts and rebates the industry agreed to help fund the cost of the health-care overhaul.


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