Demand Progress

President Biden’s landmark Inflation Reduction Act empowers Medicare to negotiate some prescription drug prices, finally lowering costs for some life-saving drugs. But Big Pharma wants to stop this price reduction, and keep prescription costs high, no matter what.

This is Big Pharma greed, plain and simple.

Drug corporations are making massive profits on medicine people need to survive. The Biden administration announced the first ten drugs that Medicare will negotiate prices on and Big Pharma is scrambling to scuttle federal law, common sense, and access to life-saving treatments.¹ We must show our support for health over corporate profits, and get behind President Biden and Medicare’s plan to cut into Big Pharma’s out-of-control greed.

Sign the petition: We support President Biden and Medicare price negotiations over the corporate greed of Big Pharma.

Giving Medicare the ability to negotiate lower drug prices makes sense for so many reasons. First, cost should not be an obstacle to getting the medication people need, especially when we’re talking about medicine for conditions like cancer, diabetes, and kidney disease. Unsurprisingly, an overwhelming majority of Americans want lower prescription costs.²

These negotiations are estimated to save the federal government almost $100 billion by 2031, and cut prices that Medicare pays for certain drugs by half. That will lead to particularly greater savings for marginalized communities.³

Big Pharma wants to stop Medicare negotiations so it can continue to pad rich executive bonuses and push its stock price as high as possible. These corporations are in an all-out, stop-at-nothing campaign to protect their profits over the health of Americans. We can’t let them win.

Add your name: Back President Biden against Big Pharma.

Sources:

1. The American Prospect, “Who’s Running Big Pharma’s Last Stand Against Slightly Fairer Drug Pricing,” August 29, 2023.
2. Ibid.