Medicare's Ambitious Drug Price Negotiation Plan: President Joe Biden Calls To Expand Targeted Medicines To 50 Annually by 2029
Portfolio Pulse from Vandana Singh
President Joe Biden is proposing to increase the number of prescription drugs subject to Medicare negotiation from 20 to 50 annually by 2029, aiming to reduce medication costs for seniors. This expansion is part of a broader initiative to cut federal spending by $200 billion and includes capping Medicare copayments and extending out-of-pocket cost caps. The pharmaceutical industry is expected to oppose this move, which could significantly impact their profits.
March 07, 2024 | 2:15 pm
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NEGATIVE IMPACT
Amgen could face revenue pressures if Biden's proposal to expand Medicare drug negotiations is implemented, potentially affecting its profit margins.
Amgen, as a major pharmaceutical company, could be directly impacted by the proposed expansion of Medicare drug negotiations, leading to potential revenue pressures and reduced profit margins.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
AstraZeneca could experience a negative impact on its revenue and profit margins due to the proposed expansion of Medicare drug negotiations.
AstraZeneca, being part of the pharmaceutical industry, is likely to face challenges to its revenue and profit margins if the proposal to expand Medicare drug negotiations is enacted.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Bristol Myers Squibb could see a downturn in revenue and profit margins if the Medicare drug negotiation expansion proposal goes through.
As a significant player in the pharmaceutical industry, Bristol Myers Squibb could be adversely affected by the proposed expansion of Medicare drug negotiations, impacting its financial performance.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Johnson & Johnson could encounter negative revenue and profit margin impacts from the proposed expansion of Medicare drug negotiations.
Johnson & Johnson, as a leading pharmaceutical company, could face significant financial challenges if the proposal to expand Medicare drug negotiations is implemented, affecting its revenue and profit margins.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Eli Lilly could face challenges to its revenue and profit margins due to the proposed expansion of Medicare drug negotiations.
Eli Lilly, as part of the pharmaceutical sector, is likely to experience negative impacts on its revenue and profit margins if the proposal to expand Medicare drug negotiations becomes a reality.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Merck could see its revenue and profit margins negatively affected if the Medicare drug negotiation expansion proposal is enacted.
Merck, as a major player in the pharmaceutical industry, could be negatively impacted by the proposed expansion of Medicare drug negotiations, leading to potential declines in revenue and profit margins.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70
NEGATIVE IMPACT
Novartis could experience negative impacts on its revenue and profit margins due to the proposed expansion of Medicare drug negotiations.
As a significant pharmaceutical company, Novartis could be adversely affected by the proposed expansion of Medicare drug negotiations, potentially impacting its revenue and profit margins.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 70