The Centers for Medicare and Medicaid Services (CMS) announced the prices of the first 10 prescription drugs subject to the Inflation Reduction Act’s (IRA) Medicare drug price negotiation program. In response, Andrea Ducas, vice president of Health Policy at the Center for American Progress, issued a statement.
“Today’s announcement marks a historic moment for the Medicare program. Thanks to the Biden-Harris administration, seniors will benefit from price cuts for lifesaving drugs, which will put cash back in their pockets,” said Ducas.
She added, “For decades, Big Pharma has raked in record profits, with America’s seniors paying the price. Essential drugs to treat cancer and blood clots and to manage chronic conditions should not be priced out of reach to pad pharmaceutical companies’ bottom lines. In addition to the IRA’s $2,000 Medicare Part D out-of-pocket cost cap, inflation rebates, and $35 monthly cost cap on insulin, today’s negotiated prices are another example of how the IRA and the Biden-Harris administration are delivering much-needed relief to millions of Medicare beneficiaries.”
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