Drug pricing negotiations have started. Here’s what you need to know.

The Biden administration on Thursday sent pharmaceutical companies initial offers for 10 drugs that will be part of Medicare’s new drug price negotiation program under the Inflation Reduction Act (IRA). However, the program is the subject of several ongoing lawsuits filed by drug manufacturers that have argued the law is unconstitutional.

The 6 things you need to know about HHS’ drug price negotiation strategy

Background

The IRA, which was signed into law in August 2022, includes several drug pricing provisions. Under the law, Medicare will be able to negotiate certain prescription drug prices with pharmaceutical companies. This provision will initially apply...