President Trump is expected to make changes to the Medicare drug price negotiation process established by the Biden administration. While he won't likely eliminate the process, he could either weaken negotiations in favor of pharmaceutical companies or push for deeper discounts to outdo his predecessor. The potential impact on drug prices for 68 million Medicare beneficiaries and the pharmaceutical industry is significant.
President Donald Trump likely won't do away with a process that allows Medicare to negotiate drug prices with manufacturers, even as he erases Joe Biden's other policy accomplishments.
The path he takes could have huge stakes for the prices 68 million Medicare beneficiaries in the U.S. pay for their medications. It will also have big implications for companies likeof Biden's Inflation Reduction Act, or IRA, that aims to lower prescription medicine costs for seniors and save the government nearly $100 billion in Medicare spending over the next decade.
Trump could also revise what Medicare considers one drug for the purpose of negotiations, KFF's Cubanski said. Currently, different products that share the same active ingredient can be selected as a single product, which the pharmaceutical industry Trump could influence whether Medicare's initial price offer for a drug is closer to the ceiling price, which could weaken the program's ability to secure a deeper discount.Major changes to the price negotiations are much less likely to occur, as they would require help from Congress. For example, one of the pharmaceutical industry's biggest issues with the process is what drugmakers calls the"pill penalty.
MEDICARE DRUG PRICES TRUMP ADMINISTRATION BIDEN ADMINISTRATION PHARMACEUTICAL INDUSTRY
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