What to expect from the emerging battle royale over drug prices

On Aug. 29, the Biden administration announced the first 10 drugs whose prices will be negotiated with pharmaceutical companies this year and next, with lower prices becoming effective in 2026. The stakes are huge for American taxpayers and patients. Medicare enrollees taking the 10 selected drugs paid $3.4 billion in out-of-pocket costs in 2022. These 10 drugs cost Medicare $50.5 billion between June 1, 2022 and May 31, 2023.  

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