The 15 drugs selected for negotiation are prescribed to 5.3 million Medicare beneficiaries to treat conditions ranging from cancer and type 2 diabetes to asthma.
the selection yesterday of the second round of 15 top-selling prescription drugs for price negotiations , as part of a program established by the Inflation Reduction Act and signed into law by President Biden in 2022. The legislation’s intent is to lower the cost of medications for seniors and disabled folks.
Medicare’s selection of pharmaceuticals each round triggers the start of negotiations that will take about one year to complete. After manufacturers sign price agreements with CMS, signaling their participation in the program, anbegins between the federal government and drug makers. The IRA statute sets a ceiling price for the initial offer by CMS.
Medicare Drug Prices Biden Trump CMS Maximum Fair Prices Price Negotiations Obesity Drug Coverage
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