Drugmakers Submit Counteroffers in Medicare Price Negotiations

In a significant step towards reducing prescription drug costs for seniors, all ten drug manufacturers involved have submitted counteroffers to Medicare's initial pricing proposals.

• The White House highlights the submission of counteroffers by drug manufacturers as a key phase in Medicare's drug price negotiation program.
• President Joe Biden emphasizes the importance of this milestone in lowering healthcare costs for millions of seniors.
• The negotiation process, a result of the 2022 Inflation Reduction Act, marks the first time Medicare can directly negotiate drug prices.
• A federal judge recently upheld the law enabling these negotiations, dismissing a legal challenge by AstraZeneca.
• The negotiation process is scheduled to conclude by August 1, with the aim of making prescription drugs more affordable.

3 Articles

Stat News Reuters The White House