AXIOS August 28, 2023
The Biden administration is set to announce the first batch of prescription drugs that will be subject to new price negotiations with Medicare, kicking off formal discussions with drugmakers who are fiercely challenging the effort.
Why it matters: The upcoming announcement marks a major milestone in Democrats’ decades-long push to lower drug prices by leveraging the government’s purchasing power.
- The hard-earned and rare victory against the pharmaceutical industry is expected to play prominently in President Biden’s re-election messaging, even as the negotiations face an array of legal challenges from drugmakers.
State of play: Medicare is preparing to release a list of the first 10 drugs up for negotiation on Tuesday morning before the stock market opens, and a...
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