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The Biden administration on Tuesday unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare, kicking off a controversial process that aims to make costly medications more affordable for older Americans.
President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history. The agreed-upon prices for the first round of drugs are scheduled to go into effect in 2026.
Here are the 10 drugs subject to the initial talks this year:
Eliquis, made by Bristol-Myers Squibb, is used to prevent blood clotting to reduce the risk of stroke.Jardiance, made by Boehringer Ingelheim, is used to lower blood sugar for people type 2 diabetes. Xarelto, made by Johnson & Johnson, is used to prevent blood clotting to reduce the risk of…
2023-08-29 06:47:26
Link from www.cnbc.com
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