The Biden administration has announced its list of the first 10 drugs Medicare will be able to negotiate prices on.

Medicare can now go to the table with pharmaceutical companies and negotiate pricing on 10 drugs.

Angela Mattie, a professor at Quinnipiac University, believes this is a step in the right direction.

"If I could dance, I would be doing the jig because this is a good policy," Mattie said.

The list includes blood thinners and medications that treat conditions like diabetes, cancer and heart disease.

"Drugs like Eliquis, drugs like Jardiance, that treats diabetes," said Mattie.

It's part of the Inflation Reduction Act that Congress approved last year. The plan will be rolled out in phases. The first is negotiations, which will take place between now and 2024.

Fifteen other drugs are slated for a second phase, but the negotiated prices won't take effect until 2026.

"Good policy won over politics," said Mattie.

The pharmaceutical industry has filed multiple lawsuits seeking to derail Medicare's new negotiating authority, so far none have succeeded.

This plan would only affect those enrolled under Medicare, but Mattie says she hopes this is just the first step.

"What I hope to see is that this trickles down to all pharmaceutical costs," Mattie said.

For a fill list of drugs selected for price negotiations, click here.