my son had this when he was a tiddler
the doc said we had to feed him almost sitting up and not to let him have too much feed in one go
he still gets all grumpy if we lay him down, but it's only when he's not had a feed, if he's had it then he's fine

we wern't prescribed anything for it as it wasn't a real big deal, but he seems to be getting better (4 1/2 months old now)

as many have said, they tend to grow out of it and it's normally premature babies that get it, but mine was 2 weeks late and he still had a dicky tum
doc said it was colic at first too, didn't know it was so common though