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Biden Calls for Expanding IRA’s Drug Price Negotiation Program

Biden Urges Expansion of IRA’s Drug Price Negotiation Program

TL/DR - The Biden administration has proposed an expansion to the Inflation Reduction Act's Drug Price Negotiation Program to increase the number of drugs the program can negotiate prices for from 20 to 50 annually. This expansion includes an increase in rebates that pharmaceutical manufacturers must pay if their drug price hikes outpace…