WASHINGTON -- The pharmaceuticals industry, which President Barack Obama promised to "take on" during his campaign, is winning most of what it wants in the health-care overhaul.

The final contours of the legislation are far from settled, but the industry, led by a onetime powerful congressman, has notched a string of victories.

Legislation expected soon in the powerful Senate Finance Committee will leave out cost-cutting steps as part of an agreement with the industry and the White House, according to Congressional aides, industry lobbyists and others involved in the talks.

The missing items include two planks of Mr. Obama's campaign platform: allowing cheaper drugs to be imported from Canada and giving the federal government the right to negotiate Medicare drug prices directly with pharmaceutical companies.

While the industry has engaged in vigorous lobbying just as Mr. Obama took office, that alone doesn't explain all the success. Reimportation and Medicare drug-price negotiation are largely symbolic and Congressional researchers have said they won't save much money in the long run.