White House signals it won't fight; How VCs adjust to threat of price controls

WASHINGTON - A delegation of California biotechnology and health care executives received assurances last week from Ira Magaziner, President Clinton's top advisor on health care reform, that the administration will not actively fight for the Advisory Council on Breakthrough Drugs or the Medicare blacklist if Congress decides to eliminate them.

Contrary to some press reports, Magaziner did not indicate a change in administration policy or a desire to drop the breakthrough committee or blacklist provisions, according to one of the companies that attended the meeting. ...