Biden names 10 drugs for first negotiations to cut Medicare prices

Government claims prices could fall for 9m seniors but pharma companies claim cost-reduction program is unconstitutional

The Biden administration has selected 10 drugs for the first round of price negotiations between Medicare and pharmaceutical companies in an effort to lower costs for seniors, it announced on Tuesday.

The list of prescription drugs includes blood thinners and treatments for diabetes, as well as drugs used to treat kidney disease, heart failure and arthritis. Millions of older Americans depend on these drugs - many taken daily - each year, and the negotiations are intended to reduce the financial burden for Medicare beneficiaries.