Biden ‘doubles down’ on lowering US prescription drug prices

In his State of the Union address, President Joe Biden has reinforced his position aimed at lowering US prescription drug prices by pledging a raft of measures, including granting the Centers for Medicare & Medicaid Services (CMS) authority to undertake pricing negotiations for at least 50 drugs each year. Lack of clarity There is no doubt that since being signed into law by President Joe Biden in August 2022, the Inflation Reduction Act, and the provisions this law provides in combating prescription drug pricing, has been subject to much discussion. The pharmaceutical industry is grappling with the potential impact of...