Biden administration unveils first 10 drugs subject to Medicare price negotiations
Publishing timestamp: 2023-08-29 16:25:51
Summary
3) The Biden administration has unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare. This is part of the Inflation Reduction Act, which aims to make costly medications more affordable for older Americans. The list includes drugs from companies such as Bristol-Myers Squibb, Johnson & Johnson, Novo Nordisk, and Merck. The negotiations are expected to save Medicare an estimated $98.5 billion over a decade. However, the pharmaceutical industry has filed lawsuits to halt the negotiation process, arguing that it is unconstitutional.
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Source: https://www.cnbc.com/2023/08/29/10-drugs-to-face-medicare-price-negotiations-see-the-list.html