The Biden Administration Pushes Forward with Medicare's Drug Price Negotiation Program

This program, born from the Inflation Reduction Act passed by Democrats last year, has encountered fierce opposition from pharmaceutical companies. Two manufacturers and industry groups have filed lawsuits, arguing that the measure violates the Constitution.

However, undeterred by these challenges, the administration presses forward, determined to implement this transformative and historic change. By September 1, it plans to announce the first 10 drugs that will undergo negotiation, with the actual negotiation process scheduled to occur between 2023 and 2024. The newly established prices resulting from these negotiations will take effect in 2026.

Stay tuned for further updates on this significant stride towards achieving fairer drug prices for all!