Drug Pricing Bill Caps Years of AHF Advocacy
The Californer/10204184

LOS ANGELES--(BUSINESS WIRE)--AIDS Healthcare Foundation welcomes the U.S. Senate's vote to approve historic legislation empowering Medicare to lower drug prices.

"I particularly want to thank President Biden. In his persistent and dogged determination, the president didn't give up. He prodded, cajoled and pushed his former Senate colleagues to bring home this win for so many people who can't afford their medications," said AIDS Healthcare Foundation President Michael Weinstein. "We urge swift approval in the U.S. House of Representatives so the president can sign this bill into law.

The U.S. Senate approved the Inflation Reduction Act of 2022, historic legislation that finally gives Medicare, the largest payer of prescription drugs, the power to negotiate drug prices. Since 2003, U.S. law, that the drug industry promoted, explicitly prohibits the federal government from negotiating lower drug prices on behalf of Medicare beneficiaries. In 2019, total Medicare Part D spending was $180 billion.

In addition to giving Medicare power to negotiate drug prices for the most expensive medicines, the Senate-approved bill caps out-of-pocket drug costs for Medicare beneficiaries, extends the Affordable Care Act insurance subsidies through 2025, and invests in clean energy security and climate change programs while bringing down the deficit.

More on The Californer

• Dynamic Design Solutions Announces Best Sales Year on Record in Back-to-Back Fiscal Years
• Enersponse and NexRev Partner to Empower Customers With Access to Energy Management Solutions
• PARAMOUNT CONSUMER PRODUCTS AND NICKELODEON ANNOUNCE LAUNCH OF GLOBAL OCEAN CONSERVATION AND SUSTAINABILITY INITIATIVE SPONGEBOB SQUAREPANTS: OPERATION SEA CHANGE
• BookingPal Integrates Airbnb Reviews to Help Property Managers Improve Vacation Rental Rankings
• Sydney Brachytherapy Group is the first private non-melanoma skin cancer clinic in Sydney to offer OncoBeta's Rhenium-SCT

This landmark deal overcame enormous opposition from the drug industry which spent millions on lobbyists, consultants and scare tactic advertisements in an attempt to kill this common sense proposal. At the front end, taxpayers pay for much of the research and development of these drugs through government research, and again at the pharmacy counter through Medicare.

AHF proudly sponsored two ballot measures promoting drug price negotiation in California and another in Ohio which the drug industry spent millions opposing. While those ballot measure lost at the polls, they laid the groundwork for a movement that today celebrates this milestone.

AIDS Healthcare Foundation (AHF), the largest global AIDS organization, currently provides medical care and/or services to over 1.6 million people in 45 countries worldwide in the US, Africa, Latin America/Caribbean, the Asia/Pacific Region and Eastern Europe. To learn more about AHF, please visit our website: www.aidshealth.org, find us on Facebook: www.facebook.com/aidshealth follow us on Twitter: @aidshealthcare and Instagram: @aidshealthcare or subscribe to our podcast "AHFter Hours."

More on The Californer

• PermaTherm Announces Panels Delivered Quickly Program
• General Inception Creates First-Ever "Igniter" for New Company Formation
• ASI Hosts 24th Annual iNNOVATIONS Conference and Announces Award Winners
• NuVasive Announces Agenda for Investor Day 2022
• Lionrock Adds Ketamine Assisted Psychotherapy Program to State-of-the-Art Treatment Offerings for Substance Use Disorder

Contacts

John Hassell, National Director, Advocacy for AHF, +1.202.774.4854, john.hassell@aidshealth.org

Ged Kenslea, Senior Director, Communications for AHF, +1.323.791.5526, gedk@aidshealth.org

---

Show All News | Report Violation