The Trump administration is kicking off the year with yet another round of Medicare drug price negotiations. In a note on Monday, Leerink Partners analyst David Risinger said for 14 of the drugs, Medicare revenue exposed to the negotiations represents only 0% to 3% of the companies’ worldwide 2027 sales. Mike Blake | ReutersIn other news this month, Kaiser agreed to pay a record $556 million settlement over Medicare Advantage fraud allegations – the largest of its kind. Medicare Advantage insurers are paid more by the government for sicker patients. The Centers for Medicare and Medicaid Services proposed nearly flat payment rates for Medicare Advantage insurers next year, far below Wall Street’s expectations.