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WASHINGTON — The Trump administration wants to revamp certain Medicaid rules about drug prices in hopes of encouraging major insurers and pharmaceutical companies to make better deals for pricey drugs.

The proposal is an arcane Medicaid tweak, but it’s meant to open up a way to lower drug costs for far more Americans than just those in the federal insurance program. Drug makers have long complained that certain Medicaid rules get in the way of so-called value-based pricing arrangements, where insurers pay for drugs only when they work.

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