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Biden Targets 10 Drugs for Medicare Price Cuts
Posted
August 29, 2023
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August 29, 2023
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0:59Now PlayingPresident Joe Biden said his historic foray into negotiating prices with Bristol-Myers Squibb Co., Johnson & Johnson and other drugmakers is just the start, vowing to see it through despite fierce industry pushback.
“We’re not stopping there. Next year, Medicare will select more drugs for negotiation so more Americans get more savings on life saving medications they need,” Biden said at a White House event on Tuesday.
“Today is the start of a new deal for patients,” he added. “On my watch, health care should be a right not a privilege in this country.”
The administration Tuesday released the names of 10 prescription drugs that will be subject to the negotiating power of Medicare, the US health program for roughly 65 million seniors. The government expects prices will be slashed by half on average, with the first cuts taking effect in 2026.
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