Pittsburgh-area pharmacist says new prescription drug deal is a "small step"
PITTSBURGH (KDKA) — President Joe Biden and Vice President Kamala Harris on Thursday touted the administration's plan to lower prescription drug prices for Americans on Medicare.
In a landmark drug price negotiation, the White House said America's senior citizens on Medicare will save about $1.5 billion in out-of-pocket costs in the first year.
"I think it's great," said Daniel Goetz, who is on Medicare. "I think they all should be lowered. Most of them should be free for senior citizens because they can't afford them. People on a fixed income don't get a lot of Social Security, and they can't afford any of their drugs."
Among the 10 drugs facing the steepest price cuts are Merck's diabetes medication Januvia, Bristol Myers Squibb's blood thinner Eliquis and Johnson & Johnson's blood cancer drug Imbruvica.
"I think it's a small step," Jeff Wilson of Wilson's Pharmacy said. "I think we need to go much further in this industry. Costs are just out of control."
If a drug maker refuses to negotiate, they face a tax penalty, which could be lifted if they choose to withdraw their drug from the Medicare program. Wilson said those companies could not afford to not participate.
In a statement, the AARP said, in part:
"As the voice for the 100 million Americans, ages 50+, we will continue working to ensure this law is fully implemented and benefits older Americans for decades to come."
"I would love to be here as long as I can, but I would love to afford to be here," George Gaines said.
In 2027, 15 more drugs will be unveiled. Another 15 in 2028 and 20 in 2029.