Medicare Price Negotiations: Will Big Pharma’s Opposition Push Back Future Drug Releases?

Pharmaceutical Executive November 6, 2023
Don Tracy, Associate Editor

Inflation Reduction Act expected to reduce maximum achievable revenues for many top selling products.

Back in August, the Biden Administration revealed the first 10 drugs they had chosen for price negotiations with Medicare under the Inflation Reduction Act (IRA) of 2022. Despite the good intentions of the act, there are some in the industry who believe reduced revenues from Medicare will slow and distort the pace of innovation, negatively impacting both patients and profits as a result.¹

First signed into law in August 2022, the IRA aims to allocate federal spending to reduce carbon emissions, lower health care costs, provide funding for the IRS, and strengthen taxpayer compliance. As a result, the provision grants Medicare the authority to negotiate drug...

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