The Biden administration has announced the first 10 drugs which will be subject to price negotiations in an effort to slash Medicare costs.
The Centers for Medicare and Medicaid Services will negotiate for the lowest maximum fair price of the listed medications. Right now, pharmacy benefit managers negotiate rebates of drug prices, that may help consumers pay for coverage, but not what they pay when they pick up their medications, theWhile patients applaud the move to cut costs, Republican lawmakers and the drugmakers themselves have criticized the plan.
Several groups have already planned to file lawsuits to fight the initiative including complaints filed by Merck, Bristol-Myers Squibb and the Pharmaceutical Research and Manufacturers of America lobbying group.reported. The CMS has a goal “to basically make drugs more affordable while still allowing for profits to be made,” Gretchen Jacobson, a researcher at Commonwealth Fund, told the
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