The Biden administration has negotiated price reductions for 10 of the most expensive drugs under Medicare, set to take effect on January 1, 2026. Discounts range from 38% to 79%, with significant savings on medications for diabetes, blood clots, and cancers, potentially saving Medicare $6 billion in its first year. This initiative, part of the Inflation Reduction Act, marks the first direct negotiations between Medicare and pharmaceutical companies, a change long sought after as drug prices have historically been unregulated. Critics argue that the negotiations resemble coercive tactics rather than true negotiations, as companies face penalties for non-compliance. Although this program targets Medicare beneficiaries, there are ongoing legislative efforts to extend these price reductions to employer-based insurance plans. The new prices aim to alleviate financial burdens for seniors, who often face tough choices between medication and basic living expenses.