Drug Topics April 5, 2024
With drug price negotiations for 10 drugs through the Inflation Reduction Act (IRA) set to take effect in 2026, researchers simulated the extent of Medicare savings.
If drug price negotiations through the Inflation Reduction Act (IRA) had been in effect from 2018 to 2020, Medicare spending could have been reduced by 5%, or a total of $26.5 billion in savings, according to a cross-sectional simulation study.1
Negotiations on the first 10 drugs chosen began in 2023 and the Biden administration announced that drug companies had sent back counteroffers in early March 2024. The US Department of Health and Human Services said negotiations would continue over the next several months, and negotiated prices would be published by September 1, 2024, if...
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