GM reveals stiff annual bill for Viagra
April 17, 2006
Washington - Viagra, Cialis and other erectile dysfunction drugs are costing General Motors a hefty sum.
The company spends $17 million (R104 million) annually on such drugs, GM spokeswoman Sharon Baldwin told The Detroit News.
Although that's a small fraction of GM's overall healthcare costs, which in 2005 were more than $5 billion (R30.6 billion), company executives often use the example to illustrate what they say are out-of-control health care costs.
The world's largest automaker lost $10.6 billion (R64.8 billion) last year and says skyrocketing health care costs are partly to blame. GM provides health care for 1.1 million employees, retirees and dependents.
Viagra is covered under GM's labour agreement with the United Auto Workers union, as well as benefit plans for salaried workers.
Ford Motor Co. declined to say how much it spends on erectile dysfunction drugs, and a spokesman for DaimlerChrysler's Chrysler Group could not provide figures. - Sapa-AP
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