Politico August 15, 2024
The result is a $6 billion savings across 10 drugs when new prices take effect in 2026, according to the White House.
The Biden administration on Thursday released the results of the first Medicare drug price negotiations, a milestone in Democrats’ decadeslong quest to have the nation’s largest payer use its leverage to lower prescription drug prices.
The result is a $6 billion savings across 10 drugs when new prices take effect in 2026, according to the White House, and beneficiaries will save roughly $1.5 billion in out-of-pocket costs.
“Empowering Medicare to negotiate prices not only strengthens the program for generations to come, but also puts a check on skyrocketing drug prices,” HHS Secretary Xavier Becerra said in a statement.
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