Friday, October 14, 2005

A good reason to oppose Prop 79

By now we all have seen at least one of those commercials that pharmaceutical companies keep bank rolling in opposition to Proposition 79. Ethnic scientists, seniors, and children are displayed citing various reasons for voting against the measure and urging Californians to vote for Prop 78 instead.

In efforts to kill 79, PhRMA has raised upwards of $80 million for their campaign efforts. Making it one of the most expensive campaigns in California hstory. While this is a dream come true for political consultants and firms employed by the industry, it makes many of us even more skeptical of the industry.

However, don't let your dislike for big pharma deter you from voting against Prop 79. It really is a bad initiative because it will result in shake-down law suits without any clear indication of wrong doing. This proposition will open the door for personal injury lawyers to sue prescription drug makers and sellers (this includes biotech companies) simply based on vague allegations regarding prices and profit margins. This is exactly the kind of stuff that Prop 64 was passed to prevent, let's not go down this road again.