Fierce Pharma December 14, 2023
Fraiser Kansteiner

Ahead of 2026’s Medicare drug price negotiations, the White House is getting ready to crack down on companies who’ve raised the costs of their medications faster than the rate of inflation. The move marks the latest in a series of price-fighting measures being rolled out under 2022’s Inflation Reduction Act (IRA).

Drugmakers are likely to have to pay rebates to Medicare in 2024’s first quarter over what the White House on Thursday called “outrageous” price hikes on prescription meds.

According to a new release, 48 Medicare Part B drugs saw their prices grow faster than inflation in the final quarter of 2023, and some drug companies raised prices faster than inflation during every quarter over the past year.

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Topics: Biotechnology, CMS, Congress / White House, Govt Agencies, Insurance, Medicare, Pharma, Pharma / Biotech
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