CNBC August 15, 2024
Key Points
– The Biden administration released prices for the first 10 prescription drugs that were subject to landmark negotiations with Medicare.
– The government estimates that the new prices could produce $6 billion in net savings for Medicare in 2026 alone, based on data from 2023.
– It is a milestone in a controversial process that aims to make costly medications more affordable for older Americans, a policy the pharmaceutical industry has opposed.
– It comes one day before the second anniversary of President Joe Biden’s signature Inflation Reduction Act.
The Biden administration on Thursday released prices for the first 10 prescription drugs that were subject to landmark negotiations between drugmakers and Medicare, a milestone in a controversial process...
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