Deconstructed
Medicare Drug Pricing Negotiations Advance
Sep 1, 2023
Alex Lawson, Executive Director of Social Security Works, joins Ryan Grim to discuss the struggle to lower drug prices, the power of the pharmaceutical industry, and the future of drug price negotiation. They delve into corruption in healthcare policy, the battle for HR3, strategic blockades by politicians, and the impact of Medicare drug pricing negotiations on insulin and anti-retroviral drugs.
40:56
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Quick takeaways
- The inclusion of insulin on Medicare's list of drugs subject to price negotiations is a significant advancement in addressing high prescription drug costs.
- The history of the law prohibiting Medicare from negotiating drug prices highlights the complex dynamics and challenges faced in lowering drug costs.
Deep dives
The Biden administration announces the first 10 drugs subject to price negotiations with Big Pharma
The Biden administration has revealed a list of the first 10 drugs that will be subject to price negotiations with Big Pharma under Medicare. This move comes as a major victory for healthcare reform advocates, as it includes short-acting insulin, a drug that has been the subject of a 20-year-long battle. The inclusion of insulin on the list serves as a significant step towards addressing the high cost of prescription drugs and providing relief to individuals who rely on this medication. With this announcement, a new federal agency dedicated to negotiating drug prices has also been established, amplifying efforts to lower drug costs.
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