Biden Announces 10 Drug Companies Agree to Medicare Price Negotiations Starting in 2026

President Biden announced all 10 drug companies agreed to participate in Medicare's first price negotiations.
The 10 drugs were used by over 9 million Medicare beneficiaries in 2022, costing over $3.4 billion.
Negotiated prices for the 10 drugs won't take effect until 2026.
Lowering prescription drug costs is a key part of Biden's reelection pitch to voters.
Biden highlighted the negotiations were made possible by the Inflation Reduction Act passed without Republican support.

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Relevant topic timeline:

8/28/2023

Wall Street Breakfast: Labor Rising

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8/29/2023

See which drugs President Biden is targeting first for Medicare price-lowering talks

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8/30/2023

Medicare should negotiate with drugmakers. But not set prices

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9/14/2023

Medicare Begins Drug Price Negotiations, But Benefits Won't Arrive for Years

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9/29/2023

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Posted 10/3/2023, 7:34:24 PM