Health Affairs February 25, 2024
| Publisher’s note: This post is paid for and provided by Flatiron Health. The views expressed by the author are their own. |
Overview of Medicare Drug Price Negotiation
The Inflation Reduction Act of 2022 is transforming the landscape for oncology drugs in the U.S. by authorizing Medicare to directly negotiate prices for selected drugs with life sciences companies. This transformation officially began in September 2023, when the Centers for Medicare and Medicaid Services (CMS) announced the first 10 drugs selected for negotiation, which included one cancer drug (Imbruvica). These negotiations are set to continue through 2024, with negotiated prices going into effect January 1, 2026. Over the coming years, the scope...
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Topics: Biotechnology, CMS, Congress / White House, Govt Agencies, HHS, Insurance, Medicare, Pharma, Pharma / Biotech