Congressional Democrats are Cutting Costs of 10 Life-Saving Drugs While Republicans Protect Big Pharma’s Historic Profits
Washington D.C – Today, the Biden Administration released the first ten drugs that Medicare will be able to negotiate lower prices for thanks to the Inflation Reduction Act—a major victory for working Americans, no thanks to the pharmaceutical industry, which has undercut similar efforts for three decades.
This victory for millions of American seniors hasn’t come easily. Despite the fact that Americans pay the highest prices in the world for lifesaving medicines and the top 8 drug companies made $110 billion in profits last year, every House Republican opposed the legislation that will make life-saving medication more affordable for cancer patients and Americans living with diabetes. Additionally, Big Pharma has already filed eight lawsuits to block Medicare from negotiating to lower costs to shield their historic profits.
Unrig Our Economy Campaign Director Sarah Baron released the following statement.
“While Biden and congressional Democrats fought fiercely to include Medicare’s ability to negotiate lower drug costs as part of the Inflation Reduction Act, Republicans chose to vote “NO” on lower drug prices for hard-working Americans. We’re thrilled to see the Administration begin to lower drug prices despite Republican opposition and look forward to seeing more drug prices negotiated down in the future.”