Healthcare Finance News March 5, 2024
If HHS and a manufacturer agree on a maximum fair price, those new negotiated prices will be published by September 1.
All manufacturers participating in the first cycle of Medicare drug price negotiations have responded with counteroffers, according to the Department of Health and Human Services.
The news comes after HHS sent initial offers on February 1, as the agency was empowered to do by the Inflation Reduction Act, the White House’s attempt at lowering drug costs. The law is a cornerstone of the Biden Administration’s efforts on that front.
Details of the drug companies’ counteroffers were not disclosed, although HHS Secretary Xavier Becerra described them as “good faith, up-front negotiations.”
Negotiations will continue over the next several months....
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