Drugmakers Could Take Hit Under Obama Budget

(Reuters) - The Obama administration is turning to the pharmaceutical industry to squeeze out more savings to help reduce the deficit and cover other health initiatives such as the implementation of last year's healthcare overhaul. In his fiscal 2012 budget proposal released on Monday, President Barack Obama took another shot at cheaper versions of generic biologic drugs by seeking to cut the number of years drugmakers could exclusively market brand-name biologics from 12 years to seven.

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