Fierce Pharma February 1, 2024
Despite litigation and denouncements from the biopharma industry, Medicare price negotiations under the Inflation Reduction Act are rolling on. And today, the government is sending out its first round of offers on affected drugs.
The initial offers come amid a multi-year effort by the government to introduce Medicare negotiations, a price-fighting approach the industry has resisted for many years. After the Inflation Reduction Act passed in August 2022, the Department of Health and Human Services (HHS) last summer revealed 10 drugs selected for the first round of negotiations.
Then, in October 2023, the White House said the manufacturers of those medicines each agreed to participate in the process. While the drug companies agreed to participate, they weren’t happy about it....
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