REGN - Biden Administration To Send Pharma Companies Opening Offers For Medicare Program's First Ever Drug Price Negotiations | Benzinga
Under the Inflation Reduction Act, Medicare is poised to send initial offers to manufacturers of the first ten drugs chosen for negotiation, challenging the established prices set by pharmaceutical companies.
This historic initiative aims to alleviate the financial burden on seniors, who, in 2022, spent an estimated $3.4 billion out-of-pocket for these crucial medications.
The program directly confronts the prevailing trend where drug prices in the U.S. are two to three times higher than in comparable OECD countries.
A newly released report exposes Big Pharma’s pricing practices, revealing that Americans were charged two ...