In the shadow of President Trump's efforts to lower drug prices, the Medicare drug price negotiation process that began in the Biden administration continues.
President Trump wants to lower drug prices in the U.S. by tying them to the prices paid in other developed countries. The pharmaceutical industry has long opposed the approach.
The action is intended to build upon the existing program for Medicare drug price negotiations, which was created by the Inflation Reduction Act that passed during the Biden administration.
January is a big time for drugmakers to hike prices. This year saw higher prices for 575 medications so far, including Ozempic, drugs for HIV, cancer and many others.
The White House announced new Medicare drug prices for 10 medicines popular with beneficiaries. It's the first time the federal program has negotiated lower prices with the pharmaceutical industry.
Medicare's new authority to negotiate lower prescription drug prices represents a signature accomplishment of the Biden-Harris administration. Here's what to know as the first set of talks wraps up.
The Senate HELP committee questioned pharmaceutical CEOs about how much more Americans pay for the same drugs sold for less in Canada, Japan and Europe.
To lower drug prices, the Biden administration is looking to assert its authority to license drug patents that rely on government-funded research to drugmakers that would offer cheaper medicines.
The National Institutes of Health has been reluctant to use its leverage as a biomedical research funder to influence drug pricing. Sen. Bernie Sanders is pressing NIH's new director to take action.
Despite at least nine lawsuits against the government, all companies whose drugs are up for Medicare price negotiation will come to the bargaining table.
Medicare soon will start something it hasn't done in its 58-year history: Negotiate on drug prices. On Sept. 1, Medicare will target the first 10 drugs for price negotiations.
