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President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers who work with Medicare, a government program for people aged 65 and older or who are disabled.
The price of a pharmaceutical drug can depend on many factors: list price, wholesale price, average wholesale price (pharmaceuticals), rebates, supplemental rebates, markups from hospitals, markups for physicians, drug price for inpatients versus outpatients, formulary (pharmacy) tiers, mail order price, biosimilar prices, "patent expirations ...
The Inflation Reduction Act has provisions to lower drug costs, but it's possible that pharma companies could get around them, and keep drug prices high.
The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [265] [266] According to a Biden administration statement, in the first year of implementation, around $2 billion was allocated to protect and restore land and marine ecosystems, including National Parks and the National Wildlife Refuge System. [267]
The Inflation Reduction Act, now signed into law, aims to cut drug costs by capping Medicare out-of-pocket costs and allowing Medicare to negotiate drug prices.
The Inflation Reduction Act — which still has plenty of hurdles to overcome before it becomes law — is a far cry from some early Democratic ambitions but nonetheless marks a potentially giant ...
Savings interest rates today: Save smarter at 10x the average with yields of up to 4.50% — Jan. 9, 2025
The Inflation Reduction Act includes significant improvements to the Medicare program that will kick in over the next few years.