{"id":2015735,"date":"2023-08-29T16:09:02","date_gmt":"2023-08-29T20:09:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-celebrates-medicare-drug-price-negotiation-as-win-against-big-pharma\/"},"modified":"2023-08-29T16:12:32","modified_gmt":"2023-08-29T20:12:32","slug":"biden-celebrates-medicare-drug-price-negotiation-as-win-against-big-pharma","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-celebrates-medicare-drug-price-negotiation-as-win-against-big-pharma\/","title":{"rendered":"Biden hails Medicare drug price negotiation as victory over Big Pharma."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-celebrates-medicare-drug-price-negotiation-as-win-against-big-pharma%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2015735&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>President Biden Takes on Big Pharma \u2064in the Inflation Reduction\u200d Act<\/h2>\n<p>President Joe Biden is making a bold \u2062move to \u200ctackle the influence \u200cof Big Pharma in the \u200chealthcare \u200cindustry.\u2062 In a recent announcement, he revealed\u2063 that the \u2062Inflation Reduction Act will introduce new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/what-you-need-to-know-about-trumps-latest-drug-pricing-moves\/\" title=\"What You Need To Know About Trump\u2019s Latest Drug Pricing Moves\">price controls<\/a> \u200bfor \u200b10 \u200cMedicare drugs. This is a \u2064significant step towards ensuring \u200bfair and \u200baffordable access to vital \u200dmedications.<\/p>\n<blockquote>\n<p>&#8220;We&#8217;ve been fighting Big Pharma\u2063 for a long time,&#8221; Biden said Tuesday\u2062 in celebrating the Drug Price Negotiation\u2063 Program announcement. &#8220;We&#8217;re\u200b standing up to \u2062Big Pharma, \u2063and we&#8217;re not going to back down.&#8221;<\/p>\n<\/blockquote>\n<h3>The Impact of the Medicare Provision<\/h3>\n<p>The Medicare provision within the Inflation Reduction Act empowers the health and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cdc-to-release-revised-guidance-reducing-covid-19-quarantine-time-from-14-days-to-7-10\/\" title=\"CDC to release revised guidance reducing COVID-19 quarantine time from 14 days to 7-10\">human services secretary<\/a> to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/not-just-climate-inflation-reduction-act-has-made-major-healthcare-changes-one-year-in\/\" title=\"Inflation Reduction Act brings significant healthcare changes after one year.\">negotiate maximum fair prices<\/a> \u2063with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-pfizer-finds-counterfeit-covid-19-vaccine-shots-abroad\/\" title=\"Report: Pfizer Finds Counterfeit COVID-19 Vaccine Shots Abroad\">drug companies<\/a> for Medicare Part D coverage. This applies specifically \u200bto expensive medications without generic\u2064 or biologic \u2064alternatives.<\/p>\n<p>Among the\u200d 10 selected drugs subject to new\u200b price\u200d controls are Eliquis and Jardiance, which alone accounted for $50.5\u200d billion in Medicare Part D spending between June 2022 and May 2023. This represents approximately 20% \u2064of the total\u2064 Part D gross \u2063covered prescription drug\u2064 costs, \u2063according to \u200bthe Department of Health and Human Services (HHS).<\/p>\n<p>The finalized maximum\u200c fair prices \u2062will be implemented\u200c in the market by\u2064 2026, following the completion of the first round of negotiations\u200b by September 2024.<\/p>\n<h3>Expanding Negotiation Power<\/h3>\n<p>Biden emphasized that the Medicare negotiation\u2062 process is not unprecedented.\u200d The Department of Veterans Affairs and the Department\u200c of Defense already\u2063 have the authority to negotiate \u200cmedication prices for their respective programs. \u200bBy extending this\u2062 power to Medicare, the administration aims \u2062to ensure fair\u2063 pricing for all Americans.<\/p>\n<p>Neera Tanden, White\u200b House domestic policy\u2062 adviser, expressed confidence in the\u2063 program&#8217;s impact, \u2064stating\u2064 that\u200c it will provide &#8220;more cost savings to American families&#8221; and\u200d make a real difference in\u200d their lives.<\/p>\n<h3>Protecting the Program&#8217;s Future<\/h3>\n<p>Concerns have been raised about \u200dthe potential rollback of \u200cthe Medicare Drug Price Negotiation Program \u200dif Republicans were to win the 2024 election. However, Tanden reassured the public that the program enjoys widespread popularity and that people would strongly oppose any attempts\u2064 to undermine it.<\/p>\n<p>It is worth noting that the president&#8217;s \u2062announcement did not address the concerns of industry leaders who fear that these \u200cprice controls may hinder innovation in the \u200bpharmaceutical sector.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read \u200cmore from The \u200dWashington Examiner.<\/p>\n<blockquote>\n<p>&#8220;While the \u2064president gleefully celebrates \u200dannouncing the first 10\u200c drugs\u200c forced into his socialist price-setting scheme, Americans are \u200balready seeing fewer potentially lifesaving cures and treatments,\u201d House Energy and \u2064Commerce\u2063 Committee Chairwoman Cathy \u2063McMorris Rodgers (R-WA) said.<\/p>\n<p>&#8220;The partisan law\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-celebrates-medicare-drug-price-negotiation-as-win-against-big-pharma\/\" title=\"Biden hails Medicare drug price negotiation as victory over Big Pharma.\">sweeping price-setting\u2064 program ignores economic realities<\/a>, \u2062and its implementation process has \u200calready begun \u2062to erode\u2064 new drug \u2064development, including for\u2064 cancer therapies and rare disease \u2064medications,&#8221; added Sen. Mike Crapo\u2064 (R-ID), ranking \u2062member of\u200c the Senate Finance \u2064Committee.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>President Joe Biden credited the Democrats&#8217; Inflation Reduction Act for implementing new price controls on 10 Medicare drugs, stating that their ongoing battle against Big Pharma led to this achievement. He expressed his determination to confront the pharmaceutical industry while celebrating the announcement of the Drug Price Negotiation Program.<\/p>\n","protected":false},"author":1,"featured_media":2015736,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2015735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2015735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2015735"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2015735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2015736"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2015735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2015735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2015735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}