Healthcare DIVE March 7, 2024
The administration wants to give Medicare the authority to subject 50 drugs to price negotiations each year.
Dive Brief:
- President Biden is taking on a bipartisan bogeyman ahead of a critical State of the Union speech, targeting the pharmaceutical industry and saying he will work to expand the government’s power to lower drug prices.
- In a fact sheet released Wednesday, the White House said Medicare should be allowed to negotiate prices for 50 medications every year. That would be a significant jump from the limit of 20 under the Inflation Reduction Act.
- Biden is also looking to expand a $2,000 cap on out-of-pocket drug expenses to private insurers, extend a $2 cost-sharing limit for high-value generic drugs to all...
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