Biden Targets J&J, Bristol Drugs for Medicare Price Cuts

The Biden administration announced that Medicare will negotiate prices for 10 prescription drugs, aiming to reduce costs significantly. This move targets older drugs from major pharmaceutical companies like Lilly, Johnson & Johnson, Merck, and AstraZeneca. The policy is expected to save the US government $100 billion by 2031, though the direct impact on patient costs remains uncertain. The negotiations come as many drugs near the end of their patent exclusivity, potentially facing competition soon.

How much does the Congressional Budget Office estimate will be saved through these negotiations by 2031?

What impact might these negotiations have on patients' out-of-pocket costs?