As part of President Biden’s Inflation Reduction Act, the Department of Health and Human Services (HHS) announces the first ten drugs subject to price negotiations between Medicare and pharmaceutical companies

AIDS Healthcare Foundation (AHF) commended President Joseph Biden on his administration’s efforts to control drug pricing by compelling pharmaceutical companies choosing to participate in Medicare to engage in drug price negotiations.

Biden’s Inflation Reduction Act of 2022 (IRA) granted power to Medicare to negotiate drug prices. On Tuesday, the federal government announced the first 10 eligible drugs.

“We salute the Biden administration for taking a vital step in controlling drug pricing by compelling the industry to engage in price negotiations with Medicare on these initial 10 medications,” said Michael Weinstein, President of AHF. “Over the years, AHF has fought tirelessly at home and abroad to reduce drug pricing in order to save lives by improving drug access.”

Several pharmaceutical companies are challenging the Inflation Reduction Act negotiations’ provision in court.

“For AHF, our drug price reduction efforts are somewhat of an ongoing David and Goliath battle,” added Weinstein. “Here, President Biden and his team are justly using the immense size and power of Medicare, and they should not back down from the industry’s legal threats and bullying tactics.”

AIDS Healthcare Foundation (AHF), the world’s largest HIV/AIDS healthcare organization, provides cutting-edge medicine and advocacy to more than 1.8 million individuals in 45 countries in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region, and Eastern Europe. To learn more about AHF, visit us online at AIDShealth.org, find us on Facebook, follow us on Instagram and Twitter, and subscribe to our Ahfter Hours podcast.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230829226674/en/

We salute President Biden for taking a vital step in controlling drug pricing. The Biden administration is justly using Medicare's immense size & power to negotiate prices, and they should not back down from the industry’s legal threats & bullying tactics.