CNBC October 2, 2023
Key Points
– All drugmakers of the first 10 medicines selected for Medicare drug price negotiations have agreed to participate in the price talks.
– President Joe Biden’s Inflation Reduction Act empowered Medicare to negotiate drug prices for the first time in the program’s six-decade history.
– The lengthy negotiation process won’t end until August 2024, with reduced prices going into effect in January 2026.
All drugmakers of the first 10 medicines selected for Medicare drug price negotiations have agreed to participate in the talks, even after many of them sued to halt the process last month.
The companies confirmed their participation in separate statements to CNBC. The Centers for Medicare & Medicaid Services did not immediately respond to...
Today's Sponsors
Today's Sponsor