21 October 2022 - The US Government is holding talks with health insurers and drug makers as it sets up the framework for direct negotiations of prescription drug prices for Medicare recipients, a top Biden administration official said on Friday.

President Joe Biden in August signed into law the Inflation Reduction Act, which among its provisions for the first time allows the federal Medicare health plan for people age 65 and older and the disabled to negotiate prices on some of the most expensive drugs.

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