On the recordNovember 22, 2003
The reason is obvious: If Medicare can bargain on behalf of 40 million Medicare recipients, it has the bargaining power to bring down the cost of drugs for seniors. The pharmaceutical companies hate that concept, ``like the devil hates holy water,'' to quote our old friend Senator Bumpers, who used to say that on the floor from time to time. They don't want competition. They don't want cost control. They have won the day. They are spending millions of dollars saying vote for this bill because this bill will mean millions and millions more in profit for those same pharmaceutical companies.
Source
govinfo.gov
