Biden administration to impose inflation penalties on dozens of drugmakers
Biden administration to impose inflation penalties on dozens of drugmakers
The Biden administration will subject dozens of drugmakers to inflation penalties, the White House said on Thursday, in a move that would reduce out-of-pocket costs for Medicare recipients.
President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers for charging prices that rise faster than inflation for people on Medicare, a government program for those age 65 and older and the disabled.(https://www.reuters.com/business/healthcare-pharmaceuticals/dozens-companies-raised-drug-prices-faster-than-inflation-white-house-says-2023-12-14/)
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