California Lawmakers Forge Discount Drug Deal

Law360, New York (August 25, 2006, 12:00 AM EDT) -- Two years after vetoing a similar proposal, California Governor Arnold Schwarzenegger reached a deal Thursday with Democratic leaders on a bill that aims to slash prescription drug costs for more than 5 million poor and middle-income residents of the state, despite marked opposition from the pharmaceutical industry.

Schwarzenegger, who has been at odds with lawmakers over the past three years over the terms of the deal, said in a statement that the bill will provide “meaningful prescription drug discounts for the hard-working Californians who pay the...
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