Biden Touts All 10 Drugs’ Participation in IRA Price Negotiation Program

President Biden announced on Monday that manufacturers for all 10 drugs have agreed to participate in the Inflation Reduction Act (IRA) drug price negotiations — but that negotiations continue as all drugmakers have submitted counter offers.

“This is an important milestone in our fight to give seniors the best possible deal on their prescription drugs and in lowering health care costs for all families. And it comes in the face of attacks from Big Pharma in the courts and from Republicans in Congress who continue to try to repeal the Inflation Reduction Act which would keep seniors on Medicare from benefitting from these lower cost drugs,” Biden said in a statement.

In early February, CMS sent offers to the manufacturers of the ten drugs, “representing the first time Medicare has ever been able to stand up for a fair price for seniors through direct drug price negotiation,” the president added.

To read the whole story, click here to subscribe.

Related Topics