Biden Administration Announces First Medicare-Negotiated Drug Prices
Biden Administration Announces First Medicare-Negotiated Drug Prices
The Facts
On Thursday, the Biden administration revealed new prices negotiated between Medicare and pharmaceutical companies for 10 costly or common medications used by older Americans, including widely used blood thinners and arthritis medications.On Thursday, the Biden administration revealed new prices negotiated between Medicare and pharmaceutical companies for 10 common medications used by older Americans, including widely used blood thinners and arthritis medications.
The list of drugs includes Eliquis, which is used by nearly 4M Medicare enrollees for the treatment and prevention of blood clots; Jardiance, which is for heart failure, diabetes, and chronic kidney disease and is used by more than 1.5M enrollees; and Xarelto, another blood clot medication that's used by more than 1.3M enrollees.
The Spin
Finally, the US has joined the rest of the world and negotiated the prices of several medications. Now the users of these medications won't have to decide between paying the highest prices in the world for their drugs and paying for their families' basic needs. It's telling that pharmaceutical companies who are suing the government are also negotiating with the administration — even they know this is the best policy for all involved.
This program has already failed. In order to ease the burden of rising premiums that have resulted from the lowering of drug prices, the Biden administration is misusing taxpayer money. This is a blatant political move to pretend this plan is working and quell voters' concerns a few months before the election. This plan won't withstand the scrutiny of the courts.
