During a joint rally with President Joe Biden on Thursday, Vice President Kamala Harris announced a landmark agreement regarding drug prices and Medicare.
The Biden administration said that prices on 10 of the costliest drugs under Medicare have now been lowered. These drugs are used to treat diabetes, rheumatoid arthritis and heart failure – among other ailments and diseases.
In most cases, these drugs were lowered hundreds of dollars from their previous listing for a 30-day supply. In a couple of other cases – as with Imbruvica, which treats blood cancers – the price lowered by more than $5,000.
Although this is a good-sounding move, some are warning that it may come at another cost. Joe Grogan, adviser to former President Donald Trump, says that the lost revenue will be made up by dramatically increasing Medicare premiums.