Becker's Healthcare August 15, 2024
After months of failed litigation from drugmakers, CMS released negotiated list prices for 10 of the country’s most expensive drugs.
The Inflation Reduction Act, signed into law in August 2022, granted CMS authority to negotiate the price of drugs with no generic or biosimilar competition. Pharmaceutical companies have filed numerous lawsuits to block the law, to no success.
The negotiated prices, announced Aug. 15, would have saved Medicare about $6 billion for more than 9 million people who use these medications. Compared with 2023 list prices, the negotiated prices offer savings between 38% and 79%.
After the list was published, Novartis and Bristol Myers Squibb both said the negotiated prices do not reflect the value of their...
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