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Readout of White House Roundtable on Lowering Healthcare Costs and Bringing Transparency to Prescription Drug Middlemen | The White House

March 22, 2024
The White House
The Biden-Harris Administration convened a White House roundtable to address the high costs of prescription drugs and the role of middlemen in the pharmaceutical industry. Senior officials, including National Economic Advisor Lael Brainard and Secretary of Health and Human Services Xavier Becerra, engaged with state leaders, the private sector, and community pharmacies to explore solutions for lowering healthcare costs and increasing transparency in drug pricing. The discussion emphasized the need for reforms to enhance transparency, foster competition, support independent pharmacies, and ultimately reduce drug costs for Americans. Key highlights included Kentucky's initiative saving $300 million in pharmaceutical expenditures, the personal and community benefits of PBM transparency, and the detrimental impact of market distortions and lack of transparency on independent pharmacies and drug pricing. The Administration highlighted ongoing efforts under the Inflation Reduction Act to negotiate drug prices for Medicare, cap insulin costs, and reduce health insurance premiums, signaling a commitment to further action in these areas.
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