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Ten pharmaceutical manufacturers are signing the Inflation Reduction Act's Medicare drug price negotiation program. These companies are Bristol Myers Squibb (BMY), AstraZeneca (AZN), Boehringer Ingelheim, Immunex, Janssen Pharmaceuticals, Pharmacyclics, Merck & Company (MRK), Janssen Biotech, Novartis (NVS), and Novo Nordisk (NVO), according to the Biden administration.

Yahoo Finance Health Care Reporter Anjalee Khemlani discusses the news. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.