White House Announces Deal with Pharma to Lower Medicare Costs by $1.5 Billion in Out-of-Pocket Costs

New prices are expected to save millions of seniors and other Medicare beneficiaries $1.5 billion in out-of-pocket costs in the first year of the program alone.
According to multiple reports, U.S. President Joe Biden and Vice President Kamala Harris announced what they describe as a "historic" deal today involving the lowering of pharmaceutical pricing. Specifically, 10 key pharmaceutical products prescribed for the elderly would be targeted for a decline in price, all times to overlap with the push to get Kamala Harris into the White House for four more years.