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"Finally, we beat Big Pharma," said President Joe Biden to U.S. Senator Bernie Sanders on Wednesday at a White House event to promote efforts to lower the cost of asthma inhalers and other health-care expenses.
The savings are not yet realized, says the Congressional Budget Office, which projects a 10-year cumulative savings of $161 billion from the phased-in drug negotiation, as well as a rebate for price increases above the inflation rate.
The $35 insulin cap reduces out-of-pocket costs for those with health savings accounts but new policies are needed to improve access to affordable insulin among commercially insured patients, says a new study.
Biden is counting on outrage over abortion restrictions to help drive turnout for his reelection, while Trump is promising to repeal Obamacare, but where do the candidates stand on Americans' everyday health concerns?
President Biden's recent campaign statement is backed up by research, which has consistently found that U.S. Rx prices are significantly higher, sometimes 2-4 times as high, compared with prices in other countries.
President Joe Biden made health care affordability a centerpiece of Thursday evening's address, announcing he is calling on Congress to expand the $2,000 out-of-pocket Medicare prescription cap to all private insurance.
President Biden's battle against high drug prices, part of the Inflation Reduction Act, is intended to give Medicare patients immediate relief and, in the long term, to regulate what drugmakers charge for their products.
The White House is cracking down on drugmakers that have raised the costs of their medications faster that the rate of inflation – another move in a series of price-fighting measures being rolled out under the Inflation Reduction Act.
Blood clot drugs Eliquis and Jardiance made the list, released on Tuesday, amid lawsuits filed by their manufacturers, attempting to block the government's effort to control drug prices.
Following Biden's $35 cap on insulin costs for seniors on Medicare and three pharma companies agreeing to the cost reduction, Amazon is now giving its online customers instant discounts for the diabetes drug.