Centers for Medicare & Medicaid Services (CMS) Releases the First Ten Drug Prices Negotiated in IRA Process for Part D
- August 28, 2024
- Clinical Practice Updates, News
The Biden-Harris Administration announced that it has reached agreements for new, lower
prices for all 10 drugs selected for negotiations. According to CMS, these negotiated drugs are
some of the most expensive and most frequently dispensed drugs in the Medicare program and
are used to treat conditions such as heart disease, diabetes, and cancer. The new prices will go
into effect for people with Medicare Part D prescription drug coverage beginning January 1,
2026. If the new prices had been in effect last year, Medicare claims they would have saved an
estimated $6 billion, or approximately 22 percent, across the 10 selected drugs. These
negotiated prices range from 38 to 79 percent discounts off of list prices. About nine million
people with Medicare use at least one of the 10 drugs selected for negotiation. For more
detailed information about the negotiated prices, please see the Centers for Medicare & Medicaid Services (CMS) Negotiated Prices Fact Sheet HERE>>
