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US picks first drugs for Medicare price negotiations

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The Biden administration announced the first drugs that would be subject to price negotiations with Medicare.

The medications treat diabetes, cancer and other conditions and are taken by millions of Americans. The drugs cost Medicare billions of dollars per year.

“This is a long time in coming," President Joe Biden said. “We’re going to keep standing up to Big Pharma, and we’re not going to back down.”

Read more from The New York Times.

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