Obama Drug Company Agreement

President Barrack Obama reached an agreement with drug companies last week that will close the gap in drug coverage provided by Medicare. Obama's Healthcare reform seems to be gaining favor amongst consumer and drug company alike.


Obama called the agreement "…a significant breakthrough on the road to health care reform, one that will make a difference in the lives of many older Americans."

Under the new deal, drug companies will have to pay part of the cost of brand name drugs for lower and middle-income Americans that have long been unable to afford the pricey privatized drugs that they may have needed.

"It's a reform that will make prescription drugs more affordable for millions of seniors and restore a measure of fairness," Obama said.
Barry Rand, head of AARP, the senior citizen advocacy group, called the new plan “an early win for reform.”

Obama will see to it that big pharmaceutical companies pay $80 billion over the next decade to help reduce the cost of drugs for the economic demographics that can’t afford them.