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Biden Administration Announces Major Drug Price Cuts for Medicare: Discounts Up to 79%

On Thursday, the Biden administration announced that recent drug price negotiations will significantly reduce the costs of 10 of Medicare’s most expensive medications, with discounts ranging from 38% to 79% off their list prices. The U.S. Department of Health and Human Services (HHS) revealed that if these new prices had been in place last year, Medicare would have saved approximately…