The US government’s landmark drug price negotiations will save Americans $7.5 billion in its inaugural year, the Biden administration said, a first step toward driving down its world-leading pharmaceutical bill.
The savings will be split between senior citizens, who will fork out $1.5 billion less in out-of-pocket costs for ten medications, and the government, as its health insurance program for the elderly will pay $6 billion less to treat heart failure, blood clots, diabetes and other conditions in 2026.
Some of the world’s biggest medicines made by leading drug companies will see prices cut by 38% to 79%, according to ...