Medicare: Dozens of Drugmakers Raised Prices Faster Than Inflation

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Dozens of pharmaceutical companies will be required to pay rebates to the Medicare program after they were found to have raised prices of 48 Part B drugs faster than the rate of inflation.

There were "outrageous price hikes" on medications that more than 750,000 seniors take annually, according to a recent Biden administration announcement. Drug companies are required to pay the rebates under the administration’s Inflation Reduction Act, which was passed last year.