5 takeaways from first Medicare drug price negotiations

Hill August 16, 2024
Nathaniel Weixel, Joseph Choi

The first round of negotiated prices of 10 drugs was unveiled by the White House amid much fanfare Thursday, as Democrats celebrated it as a crowning achievement years in the making.

Administration officials touted $6 billion in savings to taxpayers, and about $1.5 billion in savings to seniors’ out-of-pocket spending in 2026.

Here’s what to know:

Negotiations worked — mostly

Drugmakers have said the process was not a legitimate negotiation, but all of them agreed to participate, and none pulled their drugs from the Medicare program.

“The negotiations were comprehensive. They were intense. It took both sides to reach a good deal,” Health and Human Services Secretary Xavier Becerra said of the talks.

Federal officials...

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