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Biden administration names 10 prescription drugs for price negotiations
Medicare price negotiations begin under the Inflation Reduction Act. Of this legislation president Biden says- "There is no reason Americans should be forced to pay more than any developed nation for life saving prescription drugs just to pad Big Pharma's pockets." Incomprehensibly this law that cost Americans hundreds of billions of dollars was passed by the younger Bush in 2003 banning Medicare from negotiating prices of drugs. It thrust one of the biggest boondoggles in postwar history on the American people under an equally incomprehensible name "Act for Drug Improvement and Modernization," with the idea that it was a form of government price controls.
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