Drugmakers, Medicare Conclude Talks to Slash Spiraling Costs

The Biden administration and the pharmaceutical industry have wrapped up the first round of landmark drug price negotiations after engaging in talks that may lead to lower prices for some of the most widely used drugs covered under Medicare.

The US government and drugmakers bargained largely outside of the public’s view for the past six months over the prices of 10 prescription drugs selected for the Medicare Drug Price Negotiation Program. The program is a signature element of President Joe Biden‘s Inflation Reduction Act that for the first time authorizes the government to set the prices for some of ...