Trump administration announces savings with new drug price negotiations

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The Trump administration announced Tuesday that there would be major savings coming to the federal government, thanks to a new round of negotiated drug prices. Fifteen drugs, including those used by Medicare beneficiaries to treat Asthma, Cancer and depression, are on the list, released by the Center for Medicare and Medicaid Services. It comes after months of negotiations and the White House predicts the federal government will save $12 billion, since it applies to drugs used by people with Medicare. Also on the list, popular weight loss drugs like Wegovy and Ozempic, which have helped treat diabetes as well. Their prices are set to drop 71% according to CMS. During a November 6 announcement in the Oval Office, President Donald Trump said. "Medicare and Medicaid will finally cover the cost of these weight loss drugs for millions of patients suffering from obesity," Trump said. The broader plan by the White House to lower costs also includes new deals with drug giants Pfizer and AstraZeneca to open new manufacturing facilities inside the United States. And to allow it to sell its drugs directly to U.S. consumers at a discounted rate. The Inflation Reduction Act, signed into law by President Joe Biden, which not a single Republican voted for, authorized Medicare to negotiate prices for certain drugs for the first time. It’s a resource the Trump administration is now using to lessen the gap between what Americans and what those in other countries pay for the same drug, as FDA Commissioner Dr. Marty Makary told The National News Desk in an interview earlier this year. “We are funding the research and development for the world,” he said. READ MORE: https://13wham.com/news/nation-world/trump-administration-announces-savings-with-new-drug-price-negotiations-medicare-medicaid-diabetes-wegovy-ozempic _______________ Stay up to date with our social media: 13 WHAM on Facebook: https://www.facebook.com/13WHAM 13 WHAM on Twitter: https://twitter.com/13WHAM Subscribe to 13 WHAM on YouTube: https://www.youtube.com/channel/UCFQyVljCrdof5Uqmo8p3c0Q/?sub_confirmation=1 13 WHAM Daily News Digest: https://www.youtube.com/playlist?list=PLuTJB6tta5ar3Fu5CumAvlvVunEP6bc9A For more information, visit https://13wham.com/ Have a news tip? Send it directly to us: Email us: [email protected] Call the Newsroom: 585.334.8700 WHAM is a NY based station and a ABC Television affiliate owned and operated by Deerfield Media, Inc and receives certain services from an affiliation of Sinclair Broadcast Group. Sinclair Broadcast Group, Inc. is one of the largest and most diversified television broadcasting companies in the country today. #13WHAM #ABCLOCAL13 #Rochester