Geo

“This was an unexpected victory in a long fight against an illegal cartel of three corporations who have raised their insulin prices in lockstep.”


THE BIDEN ADMINISTRATION pleasantly stunned health care reform advocates Tuesday by including short-acting insulin in its list of 10 drugs for which Medicare will negotiate lower prices, power vested in the White House by the Inflation Reduction Act.

The IRA was passed in the face of one of the heftiest barrages of lobbying in congressional history, with the pharmaceutical industry spending more than $700 million over 2021 and 2022 — several times more than the second- and third-ranking industries — much of it aimed at stopping the legislation, watering it down, or undermining its implementation.

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The industry succeeded in narrowing the scope of the new law, with only 10 drugs eligible for negotiation in 2023. But the effort to stop the administration from using that authority to target blockbuster drugs failed spectacularly, as the White House list includes medications that seniors spend billions on in out-of-pocket costs alone, never mind the fees paid by Medicare itself. But it was the inclusion of the broad swath of ingredients and medical devices needed to make insulin that sets the White House move apart and which will likely have the most far-reaching impact.

Sonny Magoo Loc: Where pot pie is boiled in a kettle

Joe's sliding billions in the back door for them.
This is WINDOW DRESSING.

JFlorio Loc: Seminole Florida

I'm all for this, to a point. Government should never be in the business of regulating prices. don't pat that POS biden on the back just yet. He's trying to mandate another worthless vaccine which will allow those drug companies to take billions.

LostAggie66 Loc: Corpus Christi, TX (Shire of Seawinds)

Good News on Insulin becoming affordable for those who need it. Especially all who in the past have had to choose rent/morage over health.

JFlorio Loc: Seminole Florida

Figured you wouldn’t get it. Somebody pays.

1ProudAmerican

It's just another attempt to pull the wool over the eyes of the people and "buy" votes for PO💩bribum!!!

Rose42

Exactly. People who think this is a ‘major blow’ aren’t thinking.

Covid shot aside, its still just crumbs. Big Pharma owns both parties.

liberalhunter Loc: Your mom's house

Yea.... I'll believe that the second you show me he isn't investing in big pharma or any drug manufacturers.

Real-estate and meds is where the political idiots get rich.

Milosia2 Loc: Cleveland Ohio

The formula for insulin was sold to the government for $1.00 .
Zillions have been made from this formula but it is still owned by the American People.

Rose42

You’re wrong again. The patent was sold to the University of Toronto for $1. The drug companies have their own patents which they keep by occasionally altering the formulation

They price gouge because they can.

Prolificreader

Prepare for another price hike in your insurance premiums.