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A new analysis of mid-year price hikes has found that, despite policy changes under the Inflation Reduction Act, drugprices are on the rise , STAT reports. Biden health officials are expected to reveal the initial list before the stock market opens Tuesday morning.
Impact on drugpricing and affordability Increased API costs may force some manufacturers to reduce output or exit the market entirely, reducing competition and potentially driving price inflation” Rising production costs due to tariffs could lead to higher drugprices, particularly in markets where pricing pressures are already a concern.
This expansion continues a flawed policy that threatens innovation and jeopardizes patient access to critical treatments, including drugs vital for cancer treatment and popular new weight loss medications that have transformed the management of obesity and related conditions. What Will 2025 Mean for Medicare DrugPrice Setting Under the IRA?
High drugprices was a touchstone issue in the 2016 elections and Biden has also made this a priority in his campaigning. This includes reducing drug costs to consumers in the United States. “If any of these are successful, it could materially impact profit margins for the drugmanufacturers.”
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