Medicare Announces First 10 Drugs for Price Negotiations Under Inflation Reduction Act

• The Biden administration released a list of 10 prescription drugs that Medicare will negotiate prices for under the Inflation Reduction Act.
• The selected drugs treat common conditions like diabetes, heart disease, arthritis, and cancer, and accounted for $50.5 billion in Medicare spending last year.
• Medicare will negotiate prices with pharmaceutical companies in 2023-2024, with new prices taking effect in 2026.
• The drug industry has criticized the negotiations and filed lawsuits attempting to halt the process.
• This unprecedented move aims to lower costs for Medicare recipients and save the government an estimated $98.5 billion over 10 years.

67 Articles

Reuters Reuters Scientific American Forbes CNBC Semafor Forbes Vox The Daily Wire Washington Post The Conversation Ars Technica PBS NewsHour The Hill Washington Post Washington Post Associated Press The Philadelphia Inquirer Washington Post CNN The Hill Washington Examiner Washington Post CNBC PBS NewsHour The Hill The Hill New York Post CNBC Washington Examiner Boston Globe The Hill Fox Business PBS NewsHour The Hill The Hill Fox Business UPI Fortune Boston Globe ABC News Stat News Boston Globe Barron's Forbes Forbes The Messenger CBS News Time Washington Examiner Washington Post Reuters Reuters Reuters Reuters NBC News CNN CNBC The Hill Stat News HuffPost Boston Globe Washington Post Associated Press Boston Globe Reuters Time