December 16, 2004

News & Opinion: Another drug industry headache

By: 800-CEO-READ @ 5:55 PM – Filed under: Management & Workplace Culture

This morning's news that Louisana congressman Billy Tauzin, chief architect of the new Medicaid drug law, has taken a job as the drug industry's top lobbyist will no doubt fuel more cynicism about the big drug companies. On the surface, it sure looks like a reward to Tauzin for a bill that critics thought was overly industry-friendly. He's getting blasted in the papers today. It's amazing, when you think about it, that the drug companies, which are truly miracle makers when it comes to their products, have become so widely disliked. Pricing's part of the problem. So are safety concerns. I haven't read it yet but I'm told the best book on this topic is The Truth About the Drug Companies by Marcia Angell, former editor of the New England Journal of Medicine. Someone should send a copy to Tauzin.