Politico August 15, 2024
With David Lim, Lauren Gardner, Sophie Gardner and Robert King
Driving The Day
DRUG NEGOTIATION SUCCESSES — The Biden administration today is celebrating the results of the first Medicare drug price negotiations with drugmakers, an effort it claims will save the program $6 billion in 2026 when the new prices take effect, David, Lauren, Robert and Chelsea report.
Older Americans will save approximately $1.5 billion in out-of-pocket costs on the 10 drugs selected for negotiation, according to the White House.
The 10 prescription drugs — which treat a variety of ailments, including blood cancers and clots — accounted for $50.5 billion in total Part D spending from June 1, 2022, through May 31, 2023, according to data shared by HHS...
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