President Joe Biden has announced that the manufacturers of all of the first 10 prescription drugs selected for Medicare’s first price negotiations have agreed to participate
FILE - President Joe Biden speaks about his administration's plans to lower prescription drug costs and protect Social Security and Medicare, Nov. 5, 2022, in Joliet, Ill. The Biden administration says the manufacturers of all of the first 10 prescription drugs it selected for Medicare’s first price negotiations have agreed to participate.
“For decades, drug companies in America made record profits while big pharma worked to block Medicare from being able to negotiate lower drug prices for seniors. In fact, Americans now pay two to three times more than people in other countries for the exact same prescription drug made by the exact same company,” Biden said in an online video from the Oval Office."So, my administration finally took a step to change that.
Word that the negotiation effort is moving forward coincided with the Biden reelection team's Tuesday announcement of an ad campaign that will run in places like Atlanta and on national cable channels and television in battleground states highlighting the president's middle class upbringing and his economic policies meant to improve the lives of working Americans.
Even with with Tuesday's prescription drugs announcement, however, the process could still be complicated by lawsuits from drugmakers and sharp criticism from Republicans. Biden noted that the drug manufacturers' agreeing to participate followed a court decision allowing Medicare price negotiation plans to move forward.
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