Drug deal valid if health overhaul OK’d

? Hailed by President Barack Obama, a multi-billion-dollar promise by drug companies to narrow a Medicare drug coverage gap for seniors is valid only if Congress succeeds in passing a comprehensive health care bill encountering strong opposition from Republicans, an industry spokesman said Monday.

The commitment was “made in the context of comprehensive health care reform being enacted,” said Ken Johnson, senior vice president of the Pharmaceutical Research and Manufacturers of America. “We recognize that there has to be a shared commitment if this is going to happen and this is our part of it.”

The industry sealed a weekend deal with the White House and Sen. Max Baucus, D-Mont., chairman of the Finance Committee, to spend $80 billion over the next decade defraying the cost of drugs for seniors and paying a portion of the cost of Obama’s legislation. The president, in an appearance Monday at the White House, said 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.”