President Joe Biden celebrates his administration's rollout of the first 10 drugs to be selected for a price-negotiation program.
President Joe Biden on Tuesday pledged to “keep standing up to Big Pharma,” as he celebrated his administration’s rollout of the first 10 drugs to be selected for a price-negotiation program.
The Inflation Reduction Act, a big Democratic legislative package enacted last year, has established the price-negotiation program, and Tuesday’s announcement of the 10 drugs is launching a highly contentious process with significant implications for pharmaceutical companies PJP, taxpayers and patients.
The program looks poised to “worsen patients’ access to care, destroy new cures before they come to market, eliminate American jobs, threaten the United States’ leading role in innovative research and create potential constitutional concerns around government overreach,” said House Ways and Means Committee Chair Jason Smith, House Energy and Commerce Committee Chair Cathy McMorris Rodgers and the Senate Finance Committee’s top Republican, Mike Crapo, in a news release.
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