Biden, Sanders tout efforts to lower 'outrageous' prescription drug costs

April 3 (UPI) -- President Joe Biden and Sen. Bernie Sanders, I-Vt., teamed up Wednesday at the White House to highlight their efforts to lower "outrageous" healthcare costs.

The senator argued Americans, regardless of political affiliation, are "sick and tired of paying, by far, the highest prices in the world for prescription drugs."

"It's outrageous, but we're doing something about it finally," the president added. "You and I have been fighting this for 25 years. Finally, we beat Big Pharma, finally."

Biden is making his crackdown on corporate greed and relief for Americans' financial burdens a key part of his 2024 re-election campaign.

Last year, Sanders criticized the administration for failing to tackle health care costs and even threatened to stall the confirmation of National Institutes of Health Director Monica Bertagnolli until the White House presented a strategy.

"Here is some good news, despite all of the incredible wealth and political power of the pharmaceutical industry ... despite all of that, the Biden administration and Democrats in Congress are beginning to make some progress," Sanders said Wednesday.

"My impression is that these companies, as well as many others in the pharmaceutical industry, are beginning to catch onto the fact that the American people are tired of being ripped off and paying astronomical prices for prescription drugs they need to stay alive or ease their pain," Sanders added.

During the event, Biden and Sanders touted Medicare's new ability to negotiate the cost of certain prescription drugs with pharmaceutical companies, as well as Inflation Reduction Act caps for Medicare patients that include $35 for insulin and brand-name out-of-pocket expenses below $2,000 a year.

"I think we should be more aggressive. It's time to negotiate lower prices for at least 50 drugs a year. We only have -- the law only required 10 now and then 15 and moves up," Biden said.

Sanders also noted that the cost of inhalers had recently been capped by three of the top four inhaler manufacturers to $35 a month, as he called out Teva Pharmaceuticals for holding out.

"Despite all that we have accomplished up to now, it is not enough. Much, much more needs to be done," the senator said, as Biden blamed Republicans for failing to support the Inflation Reduction Act.

"Not one Republican in the entire Congress -- it surprised me, I have to admit to you -- not one single Republican voted for it," Biden said. "Not one single one to give us authority to take on and beat Big Pharma."

"When Big Pharma doesn't play by the rules, competitors can't offer lower prices for generic drugs and devices and carry that medication so prices are raised artificially," Biden added. "I thank Bernie for leading the charge to do something about this."