Biden Targets Big Pharma: Insulin Added to Medicare Price Negotiation List

The Biden administration has included short-acting insulin in its list of 10 drugs for which Medicare will negotiate lower prices, a move that has surprised and pleased health care reform advocates. The inclusion of insulin, along with other commonly prescribed medications, in the list of negotiated drugs shows a significant blow to the pharmaceutical industry. The negotiations will begin this year and conclude in 2024, with the lower prices taking effect from January 1, 2026. This move is seen as a breakthrough victory against the powerful pharmaceutical lobby and a step towards reducing out-of-pocket costs for seniors.