The War on Drug Prices Is Just Getting Started
Prescription drugs at a Manhattan pharmacy in July.Spencer Platt/Getty
On Thursday, the Biden administration announced that it had negotiated down the cost of the ten most costly drugs covered by Medicare in a landmark deal. Once the reduced prices are enacted, in 2026, patients are expected to spend billions less out of pocket—as is the US government.
Meanwhile, Kamala Harris is speaking in North Carolina and elsewhere to push a new slate of economic policies, including aggressive action on price gouging, medical expenses, and the rising cost of living. What are the natural next steps for Democrats to build on the momentum of the White House’s Medicare deal?
They’ve got a lot of options. Even among generic drugs, prescriptions cost around three times as much in the US as they do in other countries. Americans across political parties also agree that the federal government negotiating drug costs down is a good thing, according to KFF and other polls.
There are at least four paths the government can take to keep cutting prescription drug costs that are likely to meet with similar public support—so people don’t have to forgo prescriptions they........
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