WBA - Medicare's Historic Negotiations To Lower Drug Prices Analysts Anticipate Upto Potential Price Cuts Of 60% | Benzinga
Pharmaceutical companies await the U.S. government’s forthcoming proposal, expected this Thursday, outlining substantial discounts for ten high-cost medicines.
This development marks a pivotal moment as it initiates the Medicare health program’s inaugural foray into price negotiations following the enactment of President Joe Biden’s Inflation Reduction Act (IRA) last year.
Reuters noted that Medicare, covering a vast majority of Americans aged 65 and older, is empowered by the IRA to negotiate prices for costly drugs, potentially leading to price cuts ranging from the statutory minimum of 25% to a significant 60%.
Analysts and investors anticipate that these negotiations, set to take ...