Biden Administration Lowers Drug Prices for Medicare

The Biden administration has reached agreements with pharmaceutical companies to reduce the list prices of ten costly Medicare drugs, potentially saving billions for taxpayers. However, individual savings for older Americans remain uncertain. Januvia, a diabetes medication, will see a 79% reduction, while Imbruvica, for blood cancers, will have a 38% decrease. Other notable cuts include Fiasp, Farxiga, and Enbrel. While these negotiated prices are a significant step, out-of-pocket costs for Medicare beneficiaries will depend on their specific insurance plans. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.