ACN Business

Medicare starts a long road to cutting prices for drugs, starting with 10 costing it $50.5 billion annually – a health policy analyst explains why negotiations are promising but will take years

Written by Simon F. Haeder, Associate Professor of Public Health, Texas A&M University

Americans pay far more for prescription drugs compared with people in other high-income countries. Willie B. Thomas/Digital Vision via Getty Images

The Biden administration released on Aug. 29, 2023, a list of the first 10 drugs that will be up for negotiations with pharmaceutical companies over their Medicare prices.

The drugs are purchased through...

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