Advisory Board August 15, 2024
HHS on Wednesday revealed the results of price negotiations under the Inflation Reduction Act (IRA) for 10 drugs, with discounts ranging from 38% to 79%.
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Background
The IRA, which was signed into law in August 2022, includes several drug pricing provisions. Under the law, Medicare can negotiate certain prescription drug prices with pharmaceutical companies. This provision will initially apply to 10 drugs starting in 2026 and expand to 20 drugs in 2029.
In August 2023, CMS announced the first 10 drugs that will be eligible for price negotiations under the IRA:
- Eliquis, used for preventing strokes and blood clots, made by Bristol Myers Squibb and Pfizer
- Enbrel, used for arthritis...
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