50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

The Biden Administration to End Coverage of Covid Vaccines - WSJ

Published 19/08/2022, 03:00 am
© Reuters

By Sam Boughedda

The US Government is planning to end its program of paying for Covid-19 shots and treatments, The WSJ reported Thursday.

The Biden administration will reportedly move control of pricing and coverage to the healthcare industry. This willl, as the report states, generate sales for healthcare companies and costs for consumers for years.

Representatives from drugmakers, pharmacies, and state health departments will attend a Department of Health and Human Services planning session on August 30.

On Tuesday, White House Covid-19 Response Coordinator Dr. Ashish Jha said the Biden administration has been preparing its process on how to move past the crisis phase of the pandemic and will quit buying vaccines, treatments, and tests as early as this fall.

Jha, talking at an event sponsored by the US Chamber of Commerce Foundation, said, referring to Covid-19 vaccines, treatments, and diagnostic tests, that his hope is that "in 2023, you're going to see the commercialization of almost all of these products. Some of that is actually going to begin this fall, in the days and weeks ahead."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.