Washington, DC – Protect Our Care is releasing updated profiles of the first ten drugs whose prices will be lowered as a result of the Inflation Reduction Act. Following months of negotiations with drug manufacturers, the Biden-Harris administration is scheduled to announce the final prices this week. The Medicare Drug Price Negotiation Program will lower costs for some of the highest-cost prescription drugs on the market used to treat conditions like cancer, diabetes, and autoimmune disorders.
The profiles show that millions of people rely on these drugs to stay alive, and while drug companies continue to rake in sky-high profits and reward shareholders and executives, these drugs are costing patients and taxpayers billions. While the Biden-Harris administration is working tirelessly to implement the Inflation Reduction Act, drugmakers and their Republican allies are working to strip Medicare’s power to negotiate lower drug prices and reverse all of the drug savings from the Inflation Reduction Act.
“Prescription drugs don’t work if people cannot afford to take them,” said Leslie Dach, chair of Protect Our Care. “For far too long, Americans have been forced to skip doses and choose between their health and putting food on the table. The Biden-Harris administration stood up to big drug companies and won a decades-long battle to lower the cost of prescription drugs for millions of Americans. While drug companies are lobbying to ban Medicare from negotiating, they are raking in billions in profits and rewarding their CEOs and shareholders instead of helping patients. It’s shameful that drug companies and their Republican allies want to roll back all of the progress made to help people afford the medications they need to survive.”
Read the profiles here: