After decades of failed attempts, Democrats this month passed legislation that aims to rein in the soaring costs of drugs for some in the United States
. But many will be left out from direct savings after lawmakers stripped cost-savings measures for a majority of those covered by private health insurance.
“The biggest lift is definitely going to be negotiations because the secretary is establishing a whole new program, and they’re going to do a lot of hiring,” Purvis added.estimates costs could fall by as much as $100 billion over the next decade.
“We are exploring every opportunity – including legislative, regulatory and legal — to make sure patients have access to the medicines they need and our industry can continue to develop lifesaving cures and treatments," PhRMA spokesperson Brian Newell said in an emailed statement to The Associated Press.The bill limits how much money Medicare recipients must use for medications but, again, it will take some time for those rules to take hold.
Starting next year, drug companies will also have to pay a rebate to Medicare if they raise the cost of a drug higher than the rate of inflation.
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