Yesterday, the Biden-Harris administration announced the new prices for ten life-saving drugs, saving Medicare Part D beneficiaries between 40%-80% on prescription drug costs. In response, DNC Spokesperson Addy Toevs issued the following statement:
“Yesterday, the Biden-Harris administration announced another win for seniors and Americans with disabilities struggling with the cost of prescription drugs. For the first time in history, Medicare finalized deals with pharmaceutical companies that will drastically lower the price of ten medications through its Medicare Part D prescription drug program. The new prices will help over 153,000 Medicare beneficiaries in Wisconsin who desperately need these medications. In total, the new negotiated prices will save nearly $1.5 billion in out-of-pocket costs and $6 billion in government spending in the first year alone.
“While the Biden-Harris administration continues to fight for lower health care costs, Trump and his Project 2025 agenda would gut Medicare. Voters recognize the threat that Trump and other MAGA extremists represent to their health and their pocket books, and they will reject him at the ballot box this November.”
NEW: Thanks to the Biden-Harris administration and the Inflation Reduction Act, medications for treating cancer, diabetes, heart disease, and blood clots will become much more affordable for millions of seniors.
NBC: “The Biden administration said Thursday that it had reached an agreement with drugmakers to lower prices on the 10 costliest prescription drugs under Medicare. It’s part of the federal government’s first-ever drug pricing negotiations, a cost reduction it claims could help ease the financial burden on the estimated 1 in 7 older adults in the U.S. struggling to pay for their medications.”
White House Fact Sheet: “President Biden and Vice President Harris took on Big Pharma and won, and now millions of seniors and others on Medicare will soon see their drug costs go down on some of the most common and expensive prescription drugs that treat heart disease, cancer, diabetes, blood clots, and more.
“[The United States Department of Health and Human Services] has reached agreements with all participating manufacturers on new negotiated, lower drug prices for the first 10 drugs selected for the Medicare drug price negotiation program. After manufacturers have steadily increased the list prices of all 10 of these drugs since they went on the market, these new prices will cut the list price of these drugs between 38 and 79 percent.”
CNN: “Biden admin announces results of historic Medicare drug price negotiations that will save $6B”
“Medicare’s new power to negotiate drug prices will lead to an estimated $6 billion in savings for the federal government and a $1.5 billion reduction in out-of-pocket costs for seniors when the lower prices take effect in 2026, the Biden administration announced Thursday.
“‘It’s a relief for the millions of seniors that take these drugs to treat everything from heart failure, blood clots, diabetes, arthritis, Crohn’s disease, and more – and it’s a relief for American taxpayers,’ Biden said in a statement.”
