Forbes September 5, 2023
Last week, the Centers for Medicare and Medicaid Services announced its selection of the first 10 prescription drugs that will be subject to Medicare price negotiations under the Inflation Reduction Act. Conspicuously, four of the drugs CMS included in the first batch of 10 face generic or biosimilar competition before or during 2026 when the “maximum fair prices” will get implemented. Another pharmaceutical which CMS chose is more than 25 years past its initial date of approval by the Food and Drug Administration.
Going forward the IRA may de facto alter the incentives pharmaceutical companies have to pursue evergreening strategies, as having generic or biosimilar competition can exempt a drug from selection for price negotiation. However, questions remain regarding CMS...
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