CNBC June 26, 2024
Key Points
– The Biden administration said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare.
– President Joe Biden has made lowering U.S. drug prices a key pillar of his health-care agenda and reelection platform for 2024.
– A provision of Biden’s Inflation Reduction Act requires drugmakers to pay rebates to Medicare if they hike the price of a medication faster than the rate of inflation.
The Biden administration on Wednesday said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare.
President Joe Biden...
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