NVS - Medicare's Ambitious Drug Price Negotiation Plan: President Joe Biden Calls To Expand Targeted Medicines To 50 Annually by 2029 | Benzinga
In a move outlined in his upcoming State of the Union address, President Joe Biden is pushing for an increase in the number of prescription drugs subject to negotiation under the federal Medicare program.
Currently set at 20 medicines annually, Biden proposes a new target of at least 50 drugs per year, part of a broader initiative to make medications more affordable for seniors.
The pharmaceutical industry is expected to vehemently oppose the president’s call for expanded negotiations, given its impact on profits.
Related Content: Medicare’s Historic Negotiations To Lower Drug Prices, Analysts Anticipate Upto Potential Price Cuts Of 60%.
The negotiation process ...