Some of the most frequently prescribed medications in the U.S. might soon become more affordable. This change could result in significant taxpayer savings but may challenge the profit margins of major pharmaceutical companies.
The U.S. government is set to announce a list of 10 drugs this Friday, 1 September, as part of President Joe Biden's Inflation Reduction Act, for which it will actively negotiate prices.
Expected on this list are Johnson & Johnson's (NYSE: JNJ) blood thinner Xarelto and Eli Lilly And Co's (NYSE: LLY) diabetes drug Jardiance.
This unprecedented negotiating ability shifts from the status quo, where pharmaceutical companies have primarily dictated prices.
Now, with the introduction of the Inflation ...