- The Biden administration will work with local government "to import safe, lower-cost prescription drugs from Canada and accelerating the development and uptake of generic and biosimilar drugs that give patients the same exact clinical benefit but at a fraction of the price," according to a White House fact sheet.
- On average, Medicare beneficiaries could save approximately $200 is drug costs are lowered, the administration said.
What he's saying: "While the pharmaceutical companies have done enormous work by developing life-saving COVID-19 vaccines alongside the United States’ best scientists, crippling drug prices are unacceptable," Biden is expected to say in a speech Thursday, per Reuters.
The big picture: Biden's expected call follows an executive order that mandates the Department of Health and Human services to create a "comprehensive plan ... to combat high prescription drug prices and price gouging" by Aug. 23.
Between the lines: Prescription drug costs have remained a persistent issue on Capitol Hill.
- Last month, Democratic lawmakers released the framework for their $3.5 trillion spending package, which could reduce what patients pay for prescription drugs while expanding Medicare coverage.
