President Biden declared, “Finally, we beat Big Pharma,” during a White House meeting in Washington where he emphasized his administration’s ongoing battle against Big Pharma and their efforts to reduce prescription drug costs. Senator Bernie Sanders, his former 2020 Democratic primary opponent, joined him to showcase their joint efforts to lower healthcare expenses, particularly focusing on reducing the cost of inhalers.
President Biden criticized pharmaceutical companies for their excessive pricing of prescription drugs and highlighted the impact of the Inflation Reduction Act on lowering drug costs for Medicare seniors. Sanders echoed the sentiment by stating that Americans are tired of paying the highest prices globally for prescription drugs.
The discussion also touched on the high costs of asthma inhalers, with President Biden commending Sanders for challenging pharmaceutical companies that overcharge for these essential medications. The event shed light on the disparity in inhaler prices between the U.S. and other countries, where the same product can cost significantly less.
Federal Trade Commission Chair Lina Khan addressed the issue of inflated inhaler costs due to “bogus patents” held by pharmaceutical companies. Following the administration’s intervention, some companies agreed to cap the price of asthma inhalers at $35 starting in June.
President Biden proposed extending the $2,000 cap on prescription drug costs and $35 insulin to all Americans, along with allowing Medicare to negotiate prices for a minimum of 50 drugs annually. He emphasized the contrast between his healthcare cost reduction efforts and the previous administration’s policies, criticizing Republicans for their attempts to dismantle the Affordable Care Act and cut social security and Medicare.
The event took place amidst President Biden’s struggle with low approval ratings, as a recent Wall Street Journal poll revealed him trailing former President Trump in key battleground states for the 2024 election. Despite challenges, Biden remains committed to delivering affordable healthcare and addressing the concerns of American voters. Please rewrite this sentence.
Source link
