Washington Post: In Health Plan, Industry Sees Good Business

From The Washington Post: Just four months ago, the pharmaceutical industry was prepared for the worst. Drugmakers feared that Barack Obama would press for price controls on prescription drugs and readied plans for a multimillion-dollar ad campaign against the idea.

Instead, Obama chose a more modest approach after becoming president, proposing to extract bigger discounts on medications bought through Medicaid. The plan could save the drug companies billions a year compared with price controls.

"This is a great start," said W.J. "Billy" Tauzin, a former House member from Louisiana who now runs the Pharmaceutical Research and Manufacturers of America (PhRMA), referring to Obama's health-care plan. "There are things we don't like about it. But there's time to discuss all that."

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