Drug companies are wearing white hats again after latest deal with Obama

Over the weekend, pharmaceutical companies struck a deal with the Obama administration promising to spend $80 billion over the next decade to defray the cost of drugs for senior citizens, particularly those caught in the so-called "donut hole," and paying part of the costs of Obama's health legislation. President Obama said on Monday that the agreement was "a significant breakthrough on the road to health care reform, one that will make a difference in the lives of many older Americans." The deal is contingent upon Congress passing a comprehensive health care bill, which is currently encountering strong opposition from Republicans, according to an Associated Press report. The AP said the drug industry has traditionally been aligned with Republicans in Congress, so the industry's decision to strike a deal with the White House and Democrats in Congress could have been a calculated move in to head off more costly demands as the legislation heads to draft form.