Find out which 10 drugs were selected for Medicare price negotiations, how they were chosen, when to expect price changes and more.
The government, the pharmaceutical industry and patient advocacy groups have been embroiled in a long struggle over Medicare drug pricing, which became a significant part of last year’s Inflation Reduction Act. While the number of medications targeted and the start date for the price cuts fall short of the goals sought by some Democrats, President Biden and his aides celebrated the measure as a major policy win.
“There is no reason why Americans should be forced to pay more than any developed nation for life-saving prescriptions just to pad Big Pharma’s pockets,” Biden said in a statement.Some pharmaceutical companies criticized the announcement. Johnson & Johnson, which makes three drugs on the list, said the policies put an artificial deadline on innovation and threatened
intellectual property rights. Bristol Myers Squibb said its drug Eliquis was picked because of the sheer number of Medicare patients who take it, rather than the actual price charged.
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