Tuesday, June 23, 2009 - 9:38am
Major drug manufacturers have reached a deal with the federal government that would give President Obama a key savings in his push to overhaul the U.S. health care system.
The Washington Post reports that manufacturers agreed to offer up to $80 billion dollars in prescription drug discounts to programs like Medicare. Medicare has a gap where some people must pay full price for medicines after total costs reach a certain level.
The 10 year agreement approved by the Board of the Pharmaceutical Reach and Manufacturers of America aim to close that gap, cutting medication prices in half for those affected.
The deal also offers other discounts and rebates on drugs as well.
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