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Biden To Deliver Remarks On Prescription Drug Costs

US

President Joe Biden is shortly due to deliver remarks in Bethesda, Maryland on how the Inflation Reduction Act could lower the price of prescription drugs and limit "price gouging," by pharmaceutical companies. LIVESTREAM

  • The White House said in a statement: “While Republicans in Congress fight tooth and nail to repeal the Inflation Reduction Act and put money back in the pockets of Big Pharma, President Biden won’t back down from the fight to lower costs for hardworking Americans and make sure every family has access to affordable health care.”
  • The White House said in a factsheet that Biden will announce that, "dozens of pharmaceutical companies will be required to pay rebates to Medicare for outrageous price hikes on prescription drugs that over 750,000 seniors take per year."
  • According to the White House, "President Biden's Inflation Reduction Act cracks down on this exorbitant price gouging, requiring these companies to pay rebates back to Medicare, saving seniors who take these drugs between $1 and $2,786 per dose on their medication."
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