How a Republican president could affect Medicare drug negotiations

A future Republican president who opposes Medicare drug price negotiations likely couldn’t dismantle or ignore the process but could have some regulatory discretion to seek lower price cuts, experts told Axios.

Why it matters: Giving Medicare the ability to negotiate drug prices was a signature achievement for President Biden. Republicans, meanwhile, have long opposed Medicare negotiations, regarding them as price controls that could hurt new drug development.

Driving the news: Biden this week announced the first 10 drugs that will be subject to negotiations — a process made possible through the Inflation Reduction Act….