On April 20 there was a very interesting short article buried in the back pages of The Bee entitled "Drug firms see healthy earnings." It proceeded to say that Merck as well as Wyeth both reported first quarter net income jumping 12%, while Schering-Plough's profits skyrocketed 55%, all on strong sales of their medicines.
Analyst Linda Bannister said the whole industry is doing much better, with both revenues and profits higher than anticipated. Did you think that the Medicare drug plan foisted off on us last year by the Bush administration was done for our benefit? Think again.
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