A Major Overhaul of Prescription Drug Prices

A year ago, Congress overhauled the way drugs for older Americans get paid for, by giving Medicare the power to bargain with drug makers over prices in the biggest change to health care for more than a decade. This week, the Biden administration began its implementation.

Sheryl Gay Stolberg, who covers health policy for The Times, discusses the decades long battle for bargaining power and Rebecca Robbins, who covers the pharmaceutical industry for The Times, explains its potential to reshape the business of drugs in America.

Guest: Sheryl Gay Stolberg, a Washington correspondent covering health policy for The New York Times.

Rebecca Robbins, a business reporter for The New York Times covering the pharmaceutical industry.

Background reading: 

• The Biden administration announced a long-awaited list of the first 10 medicines that will be subject to price negotiations with Medicare.
• Drugmakers are “throwing the kitchen sink” to halt Medicare price negotiations.

For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.