Latest / The Fiscal Policy Podcast with Fexingo: Government Budgets, Stimulus, and Public Spending
How the US Government Lost Billions Buying Generic Drugs
In this episode of The Fiscal Policy Podcast, Lucas and Luna dig into a startling figure: the federal government pays far more than necessary for generic drugs, missing out on billions in potential savings. They trace the problem to the fragmented purchasing system across agencies, the lack of negotiating power, and the role of pharmacy benefit managers. The episode zooms in on the 2016 bipartisan bill that aimed to fix the issue, explaining why it fell short and what a 2024 executive action tried to do differently. With comparisons to how other countries negotiate drug prices, they consider…
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