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Campaign To Defeat Drug Pricing Measure Rakes In The Dough

This undated photo shows prescription pills atop $20 bills.
Chris Potter / stockmonkey.com
This undated photo shows prescription pills atop $20 bills.

Campaign To Defeat Drug Pricing Measure Rakes In The Dough
The fight over Proposition 61 is shaping up to be one of the most expensive in the fall election.

With the high-powered pharmaceutical industry on one side and the AIDS Healthcare Foundation on the other, the fight over Proposition 61 looks like a mismatch.

The ballot measure would prevent California state agencies from paying more than the U.S Department of Veterans Affairs pays for prescription drugs.

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The opposition is bankrolled by drug company giants like Merck and Pfizer. As of late June, opponents had racked up $65.9 million.

Supporters had raised around $7 million.

Despite their disadvantage in the fundraising department, proponents say they aren't discouraged. They say a recent poll paid for by the Yes on Prop. 61 campaign shows widespread support.

Proponents argue the measure would lower drug prices and increase transparency.

Critics maintain the initiative would reduce access to prescription drugs and create more red tape.