Biotech Values

[Biopharm investor]

I think pharma will take a hit in Q1 because of this legislation.

The Medicaid base rebate rate increases from 15.1% to 23.1% for branded drugs retroactive to January 1, 2010. I doubt the adverse effect of this in Q1 will be mitigated to a significant degree by expanded access or closing the Medicare Part D donut hole.