Aboard Air Force One
En Route Detroit, Michigan
1:32 P.M. EST
MS. JEAN-PIERRE: All right. Good afternoon, everybody. So, I just have one quick thing at the top.
So, after decades of opposition and without the support of a single Republican in Congress, President Biden enacted a law that finally takes on Big Pharma and gives Medicare the power to negotiate drug prices.
President Biden's Inflation Reduction Act will save millions of seniors on some of the — the costliest prescription drugs on the market. And today, Medicare will send initial offers to manufacturers of the first 10 drugs selected for drug price negotia- — negotiation to help bring down the price of these prescription drugs.
This is the first time ever that Medicare is not accepting the drug prices the pharmaceutical companies set. The Drug Price Negotiation program is a prime example of the ways President Biden is working to lower costs for American families. And he won't stop fighting for results, even as Republicans in Congress continue to try to repeal the Inflation Reduction Act, cut Medicare and Social Security benefits and ins- — and insurance for millions, and keep — keep healthcare costs high.
The administration remains focused on continuing to protect these programs and deliver lower costs for seniors and hardworking families.
