The White House will soon reveal the results of its first Medicare price negotiations for 10 prescription drugs, showcasing anticipated savings for patients starting in 2026, and using this as a major campaign highlight for the upcoming election.
White House to Announce Results of First Medicare Drug Price Negotiations
According to POLITICO, the White House is about to reveal the results of its first Medicare price negotiations for 10 prescription drugs. This announcement, timed just before the second anniversary of the Inflation Reduction Act, is a major step in the administration’s efforts to lower drug costs. President Joe Biden and Vice President Kamala Harris will highlight these results at an event in Maryland, showcasing the expected savings for patients starting in 2026. The event aims to promote this achievement as a key part of their policy agenda.
The negotiations, which began last October, involve drugs like Eliquis, Xarelto, and Jardiance. The exact savings will be announced before the stock market opens to avoid affecting drug company stock prices. The final prices will take effect in January 2026, and Medicare must explain how they were set by March 2025. The administration is also preparing for the next round of talks, with up to 15 more drugs being selected for negotiation, with prices set for 2027.
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15 Million Americans to See Savings: White House Unveils Medicare Price Negotiations for 10 Prescription Drugs (PHOTO: Fortune)
White House Leverages Medicare Drug Price Negotiations as a Key Election Issue
The White House sees these negotiations as crucial for their strategy leading up to the November election, with Biden and Harris promoting their efforts to reduce high drug costs. Harris has pledged to increase the number of drugs subject to negotiation to 50 per year. Despite ongoing legal challenges from the pharmaceutical industry and concerns about future impacts, the program remains popular among voters and is expected to be a key issue in the upcoming election.
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