such as infusions or injections, in future rounds of negotiations.
The Biden administration’s release of negotiated prices for the first 10 prescription drugs marks a significant step in the effort to make medications more affordable for older Americans. The savings expected for both the Medicare program and enrollees are substantial, with the potential to improve health outcomes and quality of life for many individuals.
While the pharmaceutical industry has raised concerns about the impact of these negotiations on their revenue and innovation, the administration is moving forward with plans for future rounds of drug price talks. The selection of additional medications for negotiation will continue to address high costs and access issues for Medicare beneficiaries.
Overall, the release of negotiated prices for these initial drugs sets a precedent for the administration’s efforts to rein in prescription drug costs and make healthcare more affordable for all Americans.