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Thanks to mega-millions spent on campaign contributions and lobbying, the
pharmaceutical industry has long been Washington's 800-pound gorilla -- able
to skirt government oversight of its patent-extending and price-gouging
schemes by muscling politicians into doing its bidding. But now it's payback
time for the big ape as drug companies find themselves under fire on a
series of fronts -- assailed by Congress, federal prosecutors, federal
regulators, human rights activists and international health organizations. The most bloodstained of these battlegrounds is Africa, where the deadly AIDS epidemic has been allowed to spread while drug companies waged a protracted legal battle to keep low-cost versions of life-saving drugs from the millions dying of the disease. But last year the public outcry about these dirty deeds finally reached critical mass, shaming the drug companies' Washington lickspittles into looking at their shoes when their longtime patrons came calling for favors. So the industry was forced to relent, dropping its suit and begrudgingly lowering the price of AIDS drugs to poor countries.
ROCHESTER HILLS -- Outrage over the
insurance industry's use of credit scores to set rates has prompted Michigan
regulators to schedule statewide hearings that could end the practice. 05/16/02 |