Drug Makers Agree to Offer Medicare Discounts - NYTimes.com.

Drug makers have offered to spend $80 billion over 10 years to help older Americans afford medicines and to lower the cost of a proposed overhaul of the health care system, officials said Saturday. In a statement, President Obama said an agreement reached between drug makers and Senator Max Baucus, a Montana Democrat who is the chairman of the Finance Committee, narrowed the “doughnut hole” in the Medicare prescription-drug program that raises costs for many seniors.