CNBC August 6, 2024
Good afternoon! The first round of Medicare drug price negotiations has come to an end – but we still don’t know the final prices that the U.S. government and pharmaceutical companies have agreed on.
Medicare will disclose the new negotiated prices for 10 drugs at the beginning of September. Those prices will then go into effect in 2026.
Still, drugmakers appear to be less concerned about the impact of those new negotiated prices on their businesses than in recent months, at least in the short term. They all maintain that Medicare drug price negotiations are a long-term threat to the pharmaceutical industry’s drug innovation and profits, but the immediate dust has somewhat settled.
That’s based on executive...
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