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Ozempic, Wegovy and other new drugs are selected for Medicare's price negotiations

The article from MSN discusses how the Biden administration has selected Ozempic, Wegovy, and other new drugs for Medicare's price negotiations as part of the Inflation Reduction Act. This initiative aims to lower the cost of prescription drugs for Medicare beneficiaries. The drugs chosen for negotiation include treatments for diabetes, obesity, and heart failure, which are significant due to their high costs and the large number of patients they serve. The negotiations are intended to make these medications more affordable, potentially saving money for both the government and taxpayers while improving access to essential treatments. The process involves pharmaceutical companies negotiating with Medicare to set a maximum fair price, which could lead to reduced out-of-pocket expenses for millions of seniors. However, the article also notes that this move has sparked controversy, with pharmaceutical companies and some lawmakers arguing that it could stifle innovation in drug development.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/ozempic-wegovy-and-other-new-drugs-are-selected-for-medicare-s-price-negotiations/ar-AA1xnAv3 ]