Biden Administration Announces Historic Drug Price Cuts
Biden Administration Announces Historic Drug Price Cuts

Biden Administration Announces Historic Drug Price Cuts

News summary

The Biden administration has announced successful negotiations that will reduce prices for 10 high-cost Medicare prescription drugs, projected to save taxpayers $6 billion and beneficiaries $1.5 billion in out-of-pocket costs. This significant achievement results from the Inflation Reduction Act, which allows Medicare to negotiate drug prices for the first time. Key drugs affected include Eliquis, Imbruvica, and Januvia, with reductions of up to 75%. During a joint event in Maryland, President Biden and Vice President Harris celebrated this victory, emphasizing their commitment to continuing the fight against rising drug costs and Big Pharma's influence. Despite their strong stance, Biden and Harris have received substantial donations from pharmaceutical companies, which critics highlight as a contradiction. The administration's actions represent a pivotal shift in Medicare's role in the pharmaceutical market.

Story Coverage
Bias Distribution
50% Right
Information Sources
Left 50%
Right 50%
Coverage Details
Total News Sources
3
Left
1
Center
0
Right
1
Unrated
1
Last Updated
88 days ago
Bias Distribution
50% Right

Open Story Timeline

Story timeline 1Story timeline 2Story timeline 3Story timeline 4Story timeline 5Story timeline 6Story timeline 7Story timeline 8Story timeline 9Story timeline 10Story timeline 11Story timeline 12Story timeline 13Story timeline 14

Analyze and predict the
development of events

Related News
Ask VT AI
Story Coverage

Related Topics

Subscribe

Stay in the know

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News