What's next for the Biden administration's Medicare drug price negotiations
Publishing timestamp: 2024-08-15 15:29:15
Summary
The Biden administration released prices for the first 10 medications subject to negotiations with drugmakers under Medicare. This is the beginning of a process that could save money for taxpayers and older Americans while putting pressure on pharmaceutical companies. The negotiations are part of President Biden's Inflation Reduction Act and could lead to significant savings for Medicare and beneficiaries. The process will continue with more drugs being selected for negotiations in the future, potentially impacting the pharmaceutical industry.
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Keywords: biotechnology, social issues, merck & co inc, pharmaceuticals, biotech and pharmaceuticals, business news, joe biden, breaking news: politics, bristol-myers squibb co, health care industry, business, novo nordisk a/s, politics,
Source: https://www.cnbc.com/2024/08/15/whats-next-for-bidens-medicare-drug-price-negotiations.html