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In address to Congress, Biden touts drug pricing law and pushes insulin cost caps

February 8, 2023


President Biden doubled down on efforts to rein in prescription drug prices during his State of the Union address on Tuesday and warned Republicans that he will fight any attempts to roll back his initiatives.

Biden called on lawmakers to cap insulin costs at $35 a month for all people with diabetes, a move that would expand a provision of last year’s Inflation Reduction Act that limits the price for people on Medicare. It costs about $10 to produce a vial of insulin, and drugmakers are charging people hundreds of dollars a month for the drug while “making record profits,” Biden said.

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