Now to some of the other business headlines you need to know today,
the Biden administration says it will impose
inflation penalties on dozens of drug makers
in an effort to lower costs for those on Medicare.
Now the move comes as part of President Biden's
inflation reduction Act which allows officials to penalize drug makers
their drug prices for people on Medicare
increase quicker than the rate of inflation.
The White House says 64 drugs that fall under Medicare part
B saw their prices increase faster than inflation this year.
That includes 48 drugs which saw faster than
inflation price increases in the current quarter.