Oops. That presumably is the reaction of Big Phrma and
other industry advocates of Democratic health care
"reform." By playing footsie with the politicoes who most
hated them, the big health care lobbies expected to mitigate the
damage. Now the strategy is in ruins.
The sight of ObamaCare on life support has many Democrats
disappointed. It could be worse. They could be Pfizer CEO
Jeffrey Kindler.
The twin events of an Obama presidency and a financial crisis
rattled corporate America. Public anger put companies on the
defensive. A liberal president vowing to punish firms that
didn't aid his agenda got companies scared.
Fortune 500 execs could stand up for a free market that
benefits consumers and shareholders, or hitch their cart to the
new Democratic majority. Pfizer's Mr. Kindler is a case study
in the hitch-and-hope mentality-a CEO who became the motivating
force behind Big Pharma's $80 billion "deal" on reform, and
industry support of ObamaCare. With that health agenda burning,
the choice isn't looking so grand.
Pfizer was long a company that zealously guarded against
government interference. Prior CEOs had seen how European
governments had ruined its industry and recognized the threat.
When the board made Mr. Kindler CEO in 2006-picking a relative
newbie over insiders-it was a vote for shakeup. Mr. Kindler
changed a lot more than the business.
Already known as a Democrat and political junkie, Mr. Kindler
was primed for the Obama ascendancy. Like many big CEOs, he
started playing footsie with groups that had long despised
business but would now have the president's ear. Pfizer quietly
created a board of "notables" to advise it on policy. A top
recruit: Andy Stern, fiery head of the Service Employees
International Union. (It also includes Newt Gingrich.)
With health care "reform" coming undone, where will Pfizer
and the other drugmakers turn? Stay with their new
friends, many of whose fondest wish is to turn pharmaceuticals
into public utility? Or turn back to the Republicans, who have no
incentive to be nice to industries which actively pushed to
further nationalize American health care?
If the drugmakers try the latter, the GOP should enjoy a
good laugh and suggest that the pharmaceutical producers check
back with Nancy Pelosi & Co. There's no reason to take
political bullets defending an industry that refuses to defend
itself.
Pingback| 2.11.10 @ 12:13AM
The Truth About American Health Insurance | Health Insurance Individual Quote Informa links to this page. Here’s an excerpt: