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President Joe Biden and Vice President Kamala Harris spoke to a crowd in Prince George's County, Maryland on Thursday to talk about a deal on prescription drug prices.
Taxpayers are expected to save billions after the Biden administration inked deals with pharmaceutical companies to knock down the list prices for 10 of Medicare’s costliest drugs. But how much older Americans can expect to save when they fill a prescription at their local pharmacy remains unclear, since the list cost isn’t the final price people pay. The list prices of drugs including blood thinners, diabetes drugs and blood cancer medications will be reduced by hundreds — in some cases, thousands — of dollars for 30-day supplies. White House officials say they expect taxpayers to save $6 billion and older adults could save about $1.5 billion in total. The new prices won’t go into effect until 2026.