The Biden administration on Tuesday unveiled the first 10 prescription drugs that will be subject to price negotiations between manufacturers and Medicare, kicking off a controversial process that aims to make costly medications more affordable for older Americans.

President Joe Biden’s Inflation Reduction Act, which passed in a party-line vote last year, gave Medicare the power to directly hash out drug prices with manufacturers for the first time in the federal program’s nearly 60-year history. The agreed-upon prices for the first round of drugs are scheduled to go into effect in 2026.

  • @SheeEttin
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    421 year ago

    It’s absurd that they were forbidden from negotiating in the first place. It was basically a blank check to drug companies.

    • @BB69
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      201 year ago

      Well yeah, that’s the point