Federal officials have reached deals with drug companies to lower the price for 10 of Medicare’s most popular and costliest drugs
The Biden administration said Thursday that drug price negotiations will knock hundreds of dollars — in some cases thousands — off the list prices of 10 of Medicare’s most popular and costliest drugs. The discounts, agreed to after months of negotiations with drug manufacturers, range between 38% and 79% on the medication's list price, which is the cost of medication before discounts or rebates are applied — not the price people actually pay for prescriptions.
” The drug deals will become a focal point for Vice President Kamala Harris’ presidential campaign, especially since she cast the tiebreaking vote to pass the law. She will join Biden on Thursday to announce the drug prices, in what will be their first joint speaking appearance since she replaced him at the top of the Democratic ticket, as they both struggle to persuade voters that costs will trend down after years of above-normal inflation.
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