Lexology September 5, 2024
On August 15, 2024, the Centers for Medicare & Medicaid Services (CMS) released the first set of negotiated prices for the Medicare Drug Price Negotiation Program for 2026. Authorized under the Inflation Reduction Act of 2022, this drug-pricing program marks a significant shift in Medicare’s ability to negotiate directly with drug manufacturers for select high-cost prescription drugs. The program has announced the initial 10 drugs that represent significant Medicare expenditures and lack generic or biosimilar competition. The negotiation process began in January 2024 and concluded August 1, 2024, and negotiation factors included information from manufacturers, such as drug unit revenue and sale data, research and development costs, and costs for production and distribution.
Negotiation highlights
Reimbursement reduction
The negotiated prices...
Today's Sponsors
Today's Sponsor