Free Trial

Biden Announces New Prescription Drug Measures

US

The White House has released a statement from US President Joe Biden ahead of remarks today where he will announce new measures to lower prescription drug costs by granting Medicare greater authority to negotiate prices.

  • Biden remarks will be livestreamed hereat 14:00 ET 19:00 BST.
  • Biden said a statement, which describes the prescription drug plan as, "a key part of Bidenomics": "Today, my Administration announced the first 10 Medicare Part D drugs that have been selected for price negotiation --- for the first time ever. They are among the most common and costly prescriptions that treat everything from heart failure, blood clots, diabetes, arthritis, Crohn's disease, and more. This is on top of progress we made in reducing the cost of insulin to $35 a month for seniors on Medicare."
  • The White House said in a factsheet, which outlines the measures: "Medicare drug price negotiation will result in lower out-of-pocket costs for seniors and will save money for American taxpayers. Negotiations for the first group of selected drugs will begin in 2023, with negotiated prices going into effect in 2026."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.