
Biden to tout pharma's defeat in State of the Union, call for $35 insulin for all
President Joe Biden will take to his second State of the Union this evening with plans for optimism, and a call for universal, $35 per month insulin, along with highlights of one of his biggest self-described successes so far — the defeat of pharma companies with the institution of Medicare negotiations for drug prices.
“President Biden took on Big Pharma — and won,” a White House fact sheet said ahead of the speech this evening.
More than 60 million Medicare recipients will benefit from the negotiations, the Biden team claims, although it doesn’t mention what the negotiations might do for launch prices, and it’s still unclear the extent to which the law will be utilized, particularly as companies work around it.
But in the win column for Medicare recipients is the cap on annual out-of-pocket pharmacy costs at $2,000 under Part D, and drug companies will pay rebates to CMS if they try to hike their prices faster than the rate of inflation, although the mechanics of how those rebates will be paid has yet to be ironed out.
Since Jan. 1, seniors under Medicare also began seeing a $35 monthly cap on insulin out-of-pocket expenses.
And Biden is expected to call on Congress to extend that cap to all who rely on the life-saving insulin. Senate Republicans last summer rebuffed a similar bill that would’ve allowed for a $35 cap.
The White House team also stressed that there are more adult vaccines available for free for those on Medicare, including the shingles vaccine, which previously cost as much as $200 out of pocket.
Biden is also expected to tout his re-worked cancer moonshot. Sitting in First Lady Jill Biden’s box this evening will be Maurice and Kandice Barron of New York City. The couple’s three-year old daughter is a survivor of a rare form of pediatric cancer.
Ahead of tonight’s speech, White House cancer moonshot coordinator Danielle Carnival told the press in a call that wider accomplishments could be on the horizon:
[I]t’s time for another bipartisan effort to come together and realize a 21st century cancer system with clinical trial networks that reach every community, modern data system so we can share knowledge and make progress faster. And in 2016, as I said earlier, Congress came together to pass the 21st Century Cures Act, which provided additional funding for the fight against cancer. We can lock in that strong bipartisan support going forward.