After finalizing its first round of negotiations for the first 10 drugs in the Medicare Drug Price Negotiation Program in August, the Centers for Medicare & Medicaid Services has announced plans for round 2 of negotiations with top drugmakers.

As part of the Inflation Reduction Act, CMS released final guidance Wednesday outlining the process for the second cycle of negotiations under the Medicare Drug Price Negotiation Program.

"HHS, for the first time ever, negotiated directly with pharmaceutical manufacturers to lower drug prices for Medicare," said HHS Secretary Xavier Becerra. "The new, lower prices for the first 10 drugs will save billions for the American people. Today, we lay the groundwork for the second round of negotiations."

Continue Reading for Free

Register and gain access to:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Consumer Driven Health Care
Core and Group Health
Health Care Reform
Employee Participation
Employee-Paid
Employer-Paid