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."
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