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Detailed text transcripts for TV channel - CNN - 20100316:02:04:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100316:02:04:00

Generic biologics, which would bring the costs of the drugs down. to do that, the president wanted to give brand biologics exclusive rights for seven years before cheaper generics could enter the market. but the pharmaceutical industry lobbied for more, 12 years, and prevailed. their argument -- development takes an average of 12 years and $1 billion plus. >> if we want people to invest in new cures for cancer and for diabetes and for aids and all of that, then you have to make sure that they're going to have some chance to get their return on their investment. >> reporter: and keeping them ho...

Detailed text transcripts for TV channel - CNN - 20100316:15:11:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100316:15:11:00

Have some chance for a return on their investment. >> reporter: and keeping them honest, brand name biologics had major reinforcements to make their case. last year pharmaceutical manufacturers spent more than $263 million in lobbying, do the math, that's more than $721,000 a day. and in 2008 they gave $30 million in campaign contributions, a record half of that to democrats. >> you know, the brand industry with their deep pockets have made some great friends in the democratic party. >> to be sure, they did have powerful allies, not just the president, but aarp, unions and more, but brand name...

Detailed text transcripts for TV channel - CNN - 20100316:03:04:00 - Vimarsana News

Detailed text transcripts for TV channel - CNN - 20100316:03:04:00

Generic biologics, which would bring the costs of the drugs down. to do that, the president wanted to give brand biologics exclusive rights for seven years before cheaper generics could enter the market. but the pharmaceutical industry lobbied for more, 12 years, and prevailed. their argument -- development takes an average of 12 years and $1 billion plus. >> if we want people to invest in new cures for cancer and for diabetes and for aids and all of that, then you have to make sure that they're going to have some chance to get their return on their investment. >> reporter: and keeping them ho...