The federal government reverses position on Kos' HDL-elevating agent. The decision could have long-term consequences for the evolution of the cholesterol market.

The Medicare drug benefit means more federal spending on pharmaceuticals-and more oversight of the industry. Two prominent prosecutors are experienced and ready. The first place they will look: contracting between manufacturers and plans and its influence on the formulary selection process.

The US FDA has stood out as an agency that tends to draw broad bipartisan support amid a generally rancorous and divided Congress. A House hearing, however, may be a sign that those days are over.