Real Relief for Families, a Pivot Point in the Fight for Affordable Prescription Drugs

08.15.2024/Statement

Real Relief for Families, a Pivot Point in the Fight for Affordable Prescription Drugs

WASHINGTON, DC - Anthony Wright, Families USA Incoming Executive Director, issued the following statement today on the Centers for Medicare & Medicaid Services' announcement of the final negotiated prices for the first ten drugs selected for Medicare price negotiation:

"These final negotiated prices provide needed relief for millions of older Americans and people with disabilities who have been struggling to afford the prescription drugs they need for far too long. Thanks to the Biden-Harris administration and every member of Congress who voted for the Inflation Reduction Act of 2022, lower-cost medication will soon be a reality for those who depend on Medicare. Today's announcement proves that when our policymakers are willing to stand up to big drug corporations, progress is possible. This is a powerful next step toward reining in unchecked price hikes and drug pricing abuses by big drug corporations.

"The first ten drugs included in negotiations represent critical treatments for conditions like diabetes, heart disease, cancer, arthritis, and autoimmune disorders-diseases that touch the lives of millions of American families. The new prices announced today range from 38% to 79% lower than the list price in 2023. In total, people who rely on one of these drugs are estimated to see savings of $1.5 billion in out-of-pocket costs in 2026, while Medicare itself is saving an estimated $6 billion.

"While big drug companies are suing to stop negotiations, and some politicians want to roll back this progress, we support the Biden-Harris administration's efforts to negotiate deeper discounts for additional drugs for more people who need them. Families USA will continue to advocate to extend Medicare's authority to negotiate lower drug prices to countless other medications that are still out of reach for many people simply because of cost. Whether in or out of Medicare, we need to shift our policy priorities from padding the pockets of big drug corporations to protecting the health and well-being of all Americans."

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Families USA, a leading national voice for health care consumers, is dedicated to the achievement of high quality, affordable health care and improved health for all.