Drug Industry Balks At Obama's Budget Proposals

Law360, New York (February 13, 2012, 6:34 PM EST) -- The pharmaceutical industry found itself a potential loser Monday in President Barack Obama's proposed 2013 budget, even as U.S. Food and Drug Administration officials vowed to use a $654 million boost in spending — nearly all of it from user fees — to speed reviews of drugs and devices.

The budget proposes several initiatives that the industry strongly opposes: changing Medicare Part D rebates, shortening the exclusivity period for biological drugs and ending “pay for delay” agreements between drug companies.

First, the president's budget would change...
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