CMS Announces Manufacturer Participation in Third Cycle of Medicare Drug Price Negotiation

Under the Medicare Drug Price Negotiation Program (“Negotiation Program”), the Centers for Medicare & Medicaid Services (CMS) directly negotiates the prices of certain high expenditure, single source drugs without generic or biosimilar competition. The Centers for Medicare & Medicaid Services (CMS) recently announced that the drug companies that manufacture the 15 drugs payable under Medicare Part B and/or covered under Medicare Part D selected for the third cycle of negotiations in the Negotiation Program have chosen to participate in the Negotiation Program.