1/ The Biden administration named the first 10 medicines that will be subject to price negotiations between Medicare and pharmaceutical companies under the Inflation Reduction Act. The medications are some of the most widely used and costliest drugs older Americans use for heart disease, diabetes, cancer, and autoimmune conditions. Medicare spent $50.5 billion on the drugs last year, and the negotiations are projected to save the government an estimated $98.5 billion over a decade. Makers of the drugs have 30 days to participate in the negotiations or face excise taxes. As a provision of IRA mandates that a certain number of drugs will be added annually to the negotiations. (Politico / NBC News / New York Times / CNN / ABC News / Washington Post / CNBC / Wall Street Journal / USA Today)
This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2023/08/29/day-952/