Press Releases
Tonko Cheers Announcement of First 10 Drugs Slated for Medicare Price NegotiationDrug price negotiation—made possible by Inflation Reduction Act—will save Americans billions
Albany,
August 29, 2023
ALBANY, NY — Congressman Paul D. Tonko today cheered the announcement by the Biden Administration of the first 10 drugs covered under Medicare that have been selected for negotiation. Blocked by Big Pharma for decades and at last made possible thanks to the Inflation Reduction Act that Tonko supported, this historic drug price negotiation will benefit millions of Americans and save households thousands of dollars in medication costs beginning in 2026. Earlier this month, Tonko hosted an informational session for seniors on the numerous benefits of the Inflation Reduction Act, including Medicare drug price negotiation, and how this law will slash out-of-pocket healthcare costs for individuals across the Capital Region and nation. “Millions of Americans depend on prescriptions in order to lead full and healthy lives, yet skyrocketing drug prices imposed by greedy corporations have forced far too many to choose between paying for health care and putting food on the table,” Congressman Tonko said. “Lowering costs for these essential medications has long been a priority for Democrats and last year, I was elated to advance the Inflation Reduction Act to rein in out-of-control health care costs and slash drug prices for Americans. This is a momentous announcement and one of many to come. I look forward to continuing to build upon this work to ensure every American can afford the health care they need.” The drugs selected are used to treat common diseases such as diabetes, heart disease, arthritis, blood clots, and cancers. Just last year, as many as 9 million Americans spent more than $3.4 billion on the selected drugs. The first 10 drugs selected for negotiation are:
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