On August 29, 2023, the U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), selected the first set of 10 Medicare Part D drugs for negotiation under the Inflation Reduction Act (IRA). During the negotiation process, various factors will be taken into account including the clinical advantages of the selected drugs, their contribution to addressing unmet medical needs, and their influence on Medicare beneficiaries. CMS will also consider other aspects like research and development expenses, production costs, and distribution outlays for the chosen drugs.
CMS will publish any agreed-upon prices by September 1, 2024, with any agreed-upon prices taking effect in 2026. For more information, read HHS’ press release.
Last Updated on September 3, 2023 by Aimed Alliance