It was a dose of qualified good news. Signed in 2022, Joe Biden’s Inflation Reduction Act gave the Centers for Medicare and Medicaid Services a power they’d sorely lacked since the agency’s conception: the ability to negotiate drug prices directly with the manufacturers. The law was by no means perfect. The cost savings are only for 10, albeit very expensive, drugs, and the negotiated prices only apply to Medicare and Medicaid rather than extending to every health care insurance plan. Earlier

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