π§π΅πΆπ»πΈππΌππ. Want a good summary of the impact of the Inflation Reduction Act on health care costs AND on the pharmaceutical industry? Go to the URL weβve provided below, and you will get what you are looking for. Required negotiation of Medicare drug prices for expensive drugs, required rebates from pharmaceutical companies if they raise prices too quickly, the capping of insulin prices at $35 a month and the capping of annual Part D out-of-pocket drug expenses are the big pieces.
And there is a little sarcastic humor thrown in, with the authors describing this as a βpartnershipβ between the Federal Government and drug companies. Interesting. Thatβs not the spin that drug companies are giving stock analysts as they tell the financial community to manage their expectations in terms of future revenues and corporate profitability. Nor was it the IRA spin that President Biden laid out in a speech a couple of weeks ago, when he commented βYou won, big pharma lost.β Check it out at: https://www.goodrx.com/hcp/providers/inflation-reduction-act