Biden, Big Pharma Increasingly at Loggerheads in Run-Up to 2024 Election

Invoking the Inflation Reduction Act, the Biden administration on Thursday said 48 drugs covered under Medicare’s Part B—including those used to treat cancer and fight infections—may be subject to inflation rebates in the first quarter of 2024. The White House noted that dozens of drugmakers will be required to pay inflation rebates back to CMS due to price gouging.