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Home > Your Call > Big Pharma sues as Medicare begins negotiating drug prices
Podcast: Your Call
Episode:

Big Pharma sues as Medicare begins negotiating drug prices
Category: Government & Organizations
Duration: 00:52:06
Publish Date: 2023-09-06 16:51:44
Description: On this edition of Your Call, we’ll discuss the Biden administration’s announcement of the first ten prescription drugs, including insulin, that will be subject to price negotiations with Medicare, as part of the 2022 Inflation Reduction Act. The White House projects that the negotiations could save older Americans around $100 billion over the next decade, and reducing the cost of these drugs will help more than 9 million Americans. Senior citizens have paid $3.4 billion in out-of-pocket costs for these 10 medications in the last year. Last year, top insurance company revenues reached $1.25 trillion, with profits reaching $69.3 billion in total, according to former Cigna executive Wendell Potter, who now advocates for healthcare reform. What will it take to counter the powerful influence of the pharmaceutical industry and bring down costs?
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