The administration is expected to unveil the first 10 drugs selected for price negotiations on Tuesday, in a milestone for President Joe Biden's health agenda.
The Biden administration is expected to disclose early next week the first 10 prescription drugs selected for Medicare price negotiations, ahead of a White House event Tuesday to celebrate the milestone, four people involved in the plans told POLITICO.
Biden health officials are expected to reveal the initial list before the stock market opens Tuesday morning, because the impact on publicly traded companies that make any drugs on the list could affect their stock prices during trading. The White House is then set to tout the program on Tuesday afternoon.
The Centers for Medicare and Medicaid Services is required to publish up to 10 Medicare Part D drugs that it selects for negotiation by Sept. 1. President Joe Biden has sought to sell health policies like the new Medicare negotiation program as part of a broader “Bidenomics” agenda set to underpin his reelection campaign. The drug pricing push, he has argued, will help counter inflation and boost the economy by slashing the amount Americans have to shell out each year for critical medicines, although prices negotiated on the first set of drugs won’t take effect until 2026.
“The Biden White House is going full tilt on this one,” said Alex Lawson, executive director of advocacy group Social Security Works. “Democrats are really geared to try to take this directly into the field and make it a huge issue going into November.”
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