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International Business Times

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Elodie MAZEIN with Beiyi SEOW in Washington

Big Pharma Push Back On First Medicare Drug Price Cuts

Medicare United States Joe Biden Kamala Harris AstraZeneca IRA Medicaid Novartis White House

The White House announced a deal to lower costs of 10 key medicines selected for Medicare price negotiations, cutting their list prices by between 38 percent and 79 percent (Credit: AFP)

Major pharmaceutical companies lashed out following a landmark deal unveiled Thursday to cut the costs of 10 key medicines, with some saying the price-setting process was not transparent.

Their statements came after US President Joe Biden and Vice President Kamala Harris announced a deal to lower costs of the first 10 drugs picked for Medicare price talks.

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