Biden Administration Adds Insulin to Drug Price Negotiation List in Major Blow to Big Pharma

pleasantly stunned health care reform advocates Tuesday by including short-acting insulin in its list of 10 drugs for which Medicare will negotiate lower prices, power vested in the White House by the Inflation Reduction Act. The IRA was passed in the face of one of the heftiest barrages of lobbying in congressional history, with the pharmaceutical industry spending more than $700 million over 2021 and 2022 — several times more than the second- and third-ranking industries — much of it aimed at stopping the legislation, watering it down, or undermining...