WASHINGTON — President Biden made lowering drug prices a key part of his budget with proposals to expand Medicare drug price negotiation, squeeze more rebates out of drug companies, and lower the cost of insulin for everyone with insurance.
The request made Thursday also details a $7.2 billion ask for the Food and Drug Administration, which includes funding specifically set aside for improving the oversight of food manufacturing, regulating cosmetics, and making the medical device supply chain more resilient.
The agency also asked for $2.5 million to implement a law aimed at fostering development of treatments for neurodegenerative diseases, such as amyotrophic lateral sclerosis, or ALS. The agency wants to use the additional funding for new grants and contracts and more staff dedicated to neuroscience.
This article is exclusive to STAT+ subscribers
Unlock this article — plus daily intelligence on Capitol Hill and the life sciences industry — by subscribing to STAT+.
Already have an account? Log in
Already have an account? Log in
About the Author Reprints
To submit a correction request, please visit our Contact Us page.
STAT encourages you to share your voice. We welcome your commentary, criticism, and expertise on our subscriber-only platform, STAT+ Connect