Biden Administration Targets Big Pharma for Medicare Price Negotiations
TL;DR Summary
The U.S. Department of Health and Human Services (HHS) has announced the first 10 drugs covered under Medicare Part D that will be subject to price negotiation with drug companies. This marks the first time Medicare will directly negotiate drug prices, aiming to lower costs for enrollees. The negotiations will take place in 2023 and 2024, with the negotiated prices becoming effective in 2026. The selected drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs. The Biden administration sees this as a step towards increasing access to affordable prescription drugs for all Americans.
- HHS Selects the First Drugs for Medicare Drug Price Negotiation HHS.gov
- Eliquis and Jardiance Among First Drugs Picked for Medicare Price Negotiations The New York Times
- White House inflicts Big Pharma ills Reuters
- Biden administration unveils first 10 drugs subject to Medicare price negotiations CNBC
- Biden Administration targets drugs from J&J, Merck for controversial Medicare price negotiations Yahoo Finance
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