Biden Administration Begins Medicare Drug Price Negotiations

President Biden’s bid to lower drug prices, coming ahead of November’s election, has led to accusations of him trying to win ‘political points.’

Bottles of prescription drugs are filled at Intermountain Heathcare in Midvale, Utah, on Sept. 10, 2018. Photo by George Frey/Getty Images

The Biden administration on Feb. 1 sent out initial offers to the manufacturers of 10 of the most expensive and commonly used drugs as part of the first round of negotiations aimed at lowering medication prices for millions of Americans.

The U.S. Department of Health and Human Services (HHS) announced the launch of the first cycle of the “Medicare Drug Price Negotiation Program” in a press release. However, it did not specify the initial offers made to pharmaceutical companies in the government’s negotiations.