Announced in a recent social media post, the President's initiative to reduce drug prices has sparked significant market reactions, with share prices of pharmaceutical companies initially falling before stabilizing amid doubts about the plan's execution. The US health secretary is tasked to negotiate pricing, with potential reductions between 59% and 90%. Unlike previous attempts, this effort encompasses a broader range of programs, including Medicaid and private plans. Market skepticism persists, reflecting concerns based on past failed pricing strategies.
The US president's new initiative aims to cut drug prices significantly, targeting not only Medicare but also Medicaid and private health insurance, marking a comprehensive approach.
Scepticism in the market arose quickly as investors questioned the viability of the drug pricing shake-up, causing share prices to initially fall before rebounding.
#drug-pricing #biden-administration #healthcare-policy #pharmaceutical-industry #medicare-and-medicaid
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