The Biden administration announces the first drugs that will be targeted for price negotiations in an effort to cut Medicare costs.
Merck says that being forced to negotiate its drug prices with Medicare is unconstitutional. But it’s not forced to do anything.The pharmaceutical industry has been gearing up for months to fight these rules. Already, the plan faces several lawsuits, including complaints filed by drugmakersand Bristol-Myers Squibb and a key lobbying group, the Pharmaceutical Research and Manufacturers of America, or PhRMA.
PhRMA representatives also have said pharmacy benefit managers can still restrict access to drugs with negotiated prices by moving the drugs to a tier of their formulary — a list of covered drugs — that would require higher out-of-pocket payments. Pharmacy benefit managers also could require patients to try other drugs first or seek approval before a prescription can be covered.
CMS will start its negotiations on drugs for which it spends the most money. The drugs also must be ones that don’t have generic competitors and are approved by the Food and Drug Administration.
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Biden administration to target drugs for price negotiations to lower Medicare costsPresident Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs.
Read more »
Biden administration to target drugs for price negotiations to lower Medicare costsPresident Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs
Read more »
Biden administration to target drugs for price negotiations to lower Medicare costsPresident Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs.
Read more »
Biden administration to target drugs for price negotiations to lower Medicare costsPresident Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs.
Read more »
Biden administration to target drugs for price negotiations to lower Medicare costsPresident Joe Biden’s administration is set to announce the first prescription drugs being targeted by the U.S. government for price negotiations as part of an effort to lower Medicare costs.
Read more »