President Obama Announced Deal with Pharmaceutical Companies and Signed Anti-Smoking Bill
Today, President Obama announced an $80 billion deal struck with the pharmaceutical industry. The deal involves the drug manufacturers taking steps to close the gap in the Medicare prescription drug coverage system, commonly known as the “doughnut hole.” According to President Obama, “Medicare covers up to $2,700 in yearly prescription costs and then stops, and the coverage starts back up when the costs exceed $6,100.” The deal would provide Medicare recipients $30 billion in discounts, cutting their brand-name prescription drug costs in half. Such cut in prices would probably prevent patients from switching from brand-name to generic prescription drugs. This proposal will not be in effect until President Obama’s comprehensive health care bill passes in Congress.
This week, President Obama signed into law the Family Smoking Prevention and Tobacco Control Act, commonly known as the anti-smoking bill. This law will give the Food and Drug Administration (FDA) the power to regulate tobacco–an industry the FDA has not regulated in the past. President Obama mentioned that signing this bill into law represents a victory over tobacco companies that try to lure in the younger generations. Under the law, the FDA will ban tobacco advertising that targets children, require lower amounts of nicotine in tobacco products, prohibit sweetened cigarettes that allure younger smokers, and forbid labels that say “light” and “low tar.”
For more information, please call Abby Pendleton, Esq., Robert Iwrey, Esq., Adrienne Dresevic, Esq., Carey F. Kalmowitz, Esq. or Jessica L. Gustafson, Esq. at (248) 996-8510 or visit The HLP website.