Medicare Drug Price Negotiation Program

The U.S. Department of HHS and CMS released final guidance on October 2 outlining the process for the second cycle of negotiations under the Medicare Drug Price Negotiation Program. The guidance includes information on how CMS will help ensure people with Medicare can access drugs at the negotiated prices when the prices become effective. CMS will announce the selection of up to 15 additional drugs covered by Part D for the second cycle of negotiations by February 1, 2025. This final guidance includes lessons learned from the first cycle of negotiations and comments received. Additionally, the final guidance outlines improvements to the design of patient-focused engagement events. Read the release to learn more.

On February 1, the Centers for Medicare & Medicaid Services (CMS) sent initial offers to the participating drug companies of the first ten prescription drugs selected for negotiation in the first cycle of the Medicare Drug Price Negotiation Program. CMS announced the ten initial drugs selected for the first cycle of Medicare drug price negotiation on August 29, 2023, and on October 3, HHS announced that the drug companies of all 10 selected drugs agreed to participate in negotiations with Medicare. Negotiations will continue over the next several months, with negotiations ending by August 1, 2024...

The Centers for Medicare & Medicaid Services (CMS) are hosting an upcoming series of patient-focused Listening Sessions this fall as part of the Medicare Drug Price Negotiation Program. These virtual public Listening Sessions will provide opportunities for patients, beneficiaries, caregivers, consumer and patient organizations, and other interested parties to share input relevant to drugs selected for the first round of negotiations. CMS will host 10 Listening Sessions this fall, one for each of the 10 selected drugs: (Click attached links to find times for all 10 listening sessions).

On June 30th, the Centers for Medicare and Medicaid Services (CMS) released revised guidance detailing the requirements and parameters of the new Medicare Drug Price Negotiation Program for the first round of negotiations, which will occur in 2023 and 2024. The agency received over 7,500 comments on the initial guidance which was released in March 2023. According to CMS, the agency is releasing the revised guidance with changes from the initial guidance to improve transparency and foster an effective negotiation process....