President Joe Biden has made lowering U.S. drug prices a key pillar of his health-care agenda and reelection platform for 2024.
The Biden administration said it will impose inflation penalties on 64 prescription drugs for the third quarter of this year, lowering costs for certain older Americans enrolled in Medicare.
US President Joe Biden speaks during an event at the National Institutes of Health in Bethesda, Maryland, US, on Thursday, Dec. 14 2023.of Biden's Inflation Reduction Act requires drugmakers to pay rebates to Medicare, the federal health program for Americans over age 65, if they hike the price of a medication faster than the rate of inflation.
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