Biden administration releases prices of 10 drugs in Medicare negotiations, says U.S. will save $6 billion in first year
Publishing timestamp: 2024-08-15 09:00:01
Summary
The Biden administration released prices for the first 10 prescription drugs subject to negotiations with Medicare, aiming to make medications more affordable for older Americans. The new prices could save Medicare $6 billion in 2026 alone. Pharmaceutical industry opposes the policy. Biden called the new prices a historic milestone, but the industry warns of potential negative impacts on innovation and access to treatments.
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