Commonwealth Fund December 19, 2023
TOPLINES
The Inflation Reduction Act will save Medicare and beneficiaries money by requiring pharmaceutical manufacturers to negotiate all of a drug’s formulations under a single price
To avoid competition from generics, manufacturers frequently tweak drugs that are about to come off patent and market them as new formulations with new patent protection
A year after the passage of the Inflation Reduction Act (IRA), Medicare negotiation reached its first major milestone, with the federal government and pharmaceutical manufacturers entering into agreements to negotiate what Medicare will pay for the first set of 10 drugs. This development highlighted an important question: What is a drug?
The Food and Drug Administration (FDA) treats a drug as a mixture of active and inactive ingredients....
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