Phar­ma bris­tles at Biden’s call to ex­pand IRA ne­go­ti­a­tions at State of the Union

The phar­ma in­dus­try got a glimpse Thurs­day night of what four more years of the Biden ad­min­is­tra­tion could look like. And they did not like what they saw.

Pres­i­dent Joe Biden used his State of the Union ad­dress to lay out am­bi­tious plans to low­er drug costs by ex­pand­ing the In­fla­tion Re­duc­tion Act’s drug price ne­go­ti­a­tions in Medicare to in­clude 500 drugs over the next 10 years. Dur­ing the hour-long speech, Biden took a vic­to­ry lap on oth­er IRA pro­vi­sions, in­clud­ing cap­ping in­sulin costs at $35 per month in Medicare.

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