Medicare Announced First 10 Drugs for Upcoming Price Negotiations

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In 2024, Medicare will, for the first time, have authority under the Inflation Reduction Act passed in 2022 to negotiate drug prices with pharmaceutical manufacturers. On August 29, the Centers for Medicare and Medicaid Services (CMS) released the first 10 prescription drugs that will be subject to the Medicare price negotiations. The selected drugs accounted for 20% of Medicare Part D spending (i.e., $50.5 billion) from June 1, 2022 through May 31, 2023….
By: Burr & Forman
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