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Pharma's Market
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On the day that industry nemesis Rep. Henry Waxman wins a power play in Washington and the day after another pharma foe, former Democratic Senator Tom Daschle, is picked by President-elect Obama to be Secretary of Health and Human Services, drug giant Merck is wasting no time trying to head them all off at the pass.
In full-page ads in major newspapers today, the Dow component is fashioning itself as a compassionate drug company. The big, boldface type says, "In these challenging times, Merck is here to help." 
The fine-print text then goes on to detail Merck's [MRK
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] commitment to making sure that people who don't have insurance or who can't afford their prescription drugs can get them for free or at a discount. It also directs people to a web site called "MerckHelps.com."
But the ad is really aimed just as much, if not more so, at Obama, Waxman and Daschle than it is to needy patients. A key paragraph begins, "HEALTHCARE FOR ALL." The caps and boldface type are Merck's not mine. Then the copy says, "Merck supports reform of our healthcare system to ensure that all Americans have affordable access to quality healthcare coverage, including medicines and vaccines. We pledge to work with the new administration and Congress to support the enactment of common-sense plans to expand coverage, improve quality and ensure that we all get good value for our healthcare dollars."
I think the most crucial words in that sentence are "common-sense."
I wonder if this is just the beginning of the major drug companies extending olive branches, jockeying for a place at the table in the new Washington; and attempting to polish up their images as they brace for what many analysts believe could be a flurry of hearings and proposed legislation that puts pharma in the crosshairs.
Questions? Comments?
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