Video: Biden Administration Selects Drugs for Medicare Price Negotiations

When we act, change happens, you know. And today I’m proud to announce that Medicare has selected the first 10 additional drugs for negotiation under the Inflation Reduction Act — 10 additional. Drugs that treat everything from heart failure, blood clots, diabetes, kidney disease, arthritis, blood cancers, Crohn’s disease and so much more. Reducing the cost of these 10 additional drugs alone will help more than nine million Americans. And by September 2024, H.H.S., Health and Human Services, is going to publish the prices it negotiated. In January of 2026, the new prices will go into effect. For years, Big Pharma blocked us. They kept prescription drug prices high to increase their profits and extend patents on existing drugs to suppress fair competition, instead of innovating. Playing games with pricing so they could charge whatever they can. But this is — finally, finally, finally, we had enough votes by a matter of one to beat Big Pharma.