President Biden said his proposed budget could save the federal government $160 billion over 10 years by allowing Medicare to negotiate the price of more drugs.
President added that budget allows Medicare to negotiate Compared to the current policy, drug prices will rise faster after launch.
Biden seems to be picking up where he left off Drug price reform included in the Inflation Control Law Passed in 2021.
Under these reforms, beginning in 2026, the Department of Health and Human Services (“HHS”) will be able to select 10 drugs from the top 50 Medicare Part B and Part D drugs for discounts. An additional 20 will be added by 2029.
For drugs that have been on the market for more than 9 years, Minimum 25% discount required12+ years, 35%. Over 16 years, 60%.
Pfizer (New York Stock Exchange:PFE)/Bristol-Myers Squibs (New York Stock Exchange:BMY) Eliquis (apixaban), AbbVie (New York Stock Exchange:ABBV) Humira (aducanumab), Regeneron (REGN) Eylea (Aflibercept), of Bristol (BMY) Revlimid (lenalidomide), and Merck’s (New York Stock Exchange:MRK) Keytruda (pembrolizumab).
The budget also allows HHS to negotiate additional Medicaid drug rebates on behalf of the state, increasing purchasing power. wall street journal report.
of journal The budget also includes a provision that if a Medicaid-controlled care provider charges more than the cost of patient care, it must reimburse the Centers for Medicare and Medicaid Services.
Medicaid Managed Care Provider: Humana (ham), Molina Healthcare (Moe), centen (CNC).
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