The 15 drugs selected for negotiation are prescribed to 5.3 million Medicare beneficiaries to treat conditions ranging from cancer and type 2 diabetes to asthma.

The Biden administration said Medicare will negotiate discounts with drug companies on 15 drugs prescribed to treat cancer, diabetes and asthma.

The price negotiations for the additional 15 drugs selected will be handled by the incoming Trump administration and, if deals are reached, almost assure billions of dollars in savings for taxpayers.