Forbes August 30, 2023
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The Inflation Reduction Act authorized the federal government to negotiate lower prices for certain kinds of medications, enabling the United States to join the ranks of dozens of countries whose governments routinely negotiate costs with pharmaceutical companies. The program will aim to negotiate lower prices for up to 60 drugs covered under Medicare, with an aim towards targeting the ones that account for the highest levels of spending and where no alternatives are available. On Tuesday, the Biden Administration announced the first 10 drugs whose prices will be negotiated: diabetes drugs Jardiance, Januvia, Fiasp and NovoLog; chronic kidney disease drug Farxiga; stroke and blood...
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