Sherrod Brown: “PhRMA, the lobbying shop for America's drug companies, has a problematical condition. It is suffering from that most…”

“PhRMA, the lobbying shop for America's drug companies, has a problematical condition. It is suffering from that most debilitating of special interest deficiencies: sickly message. PhRMA has to come in with a straight face and tell public officials: if you support efforts to lower the cost of prescription drugs, we will not have the resources to develop the next generation of miracle medicines. Now, anyone who knows even a little about the drug industry knows that that argument does not hold water. We know that with profit margins consistently pushing 20 percent, the drug companies are the most profitable industry in America for 20 years running. They have the lowest tax rate in America. Half of all the drugs developed in this country, half of all the research and development for drugs in this country is done by taxpayers. But without a shot in the arm, PhRMA, the drug industry's lobbying arm, PhRMA's case of anemic message might result in an acute loss of profits. Fortunately for the drug industry, it has found a miracle cure of its own, a very effective drug called money, and they are using it to change the way America thinks. Here in Washington you see the drug companies' money everywhere.”