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Statements by CMS Leadership on First Selected Drugs for Medicare Drug Price Negotiation

For the first time, Medicare is able to directly negotiate the prices of prescription drugs due to President Biden’s lower cost prescription drug law, the Inflation Reduction Act. Leaders of the Centres for Medicare & Medicaid Services (CMS) issued the following statements on the historic announcement of the first 10 drugs covered under Medicare Part D selected for negotiation under the Medicare Drug Price Negotiation Program. The negotiations with participating drug companies for the selected drugs announced today will occur in 2023 and 2024 with the negotiated prices effective beginning in 2026. In addition, CMS is announcing more information about patient-focused listening sessions on the selected drugs with interested parties that will occur in Fall 2023.

“Today marks a significant and historic moment for the Medicare program with the announcement of the first drugs selected for Medicare drug price negotiation,” said CMS Administrator Chiquita Brooks-LaSure. “Our goal with these negotiations is to improve access to some of the costliest drugs for millions of people with Medicare while driving competition and innovation.

"Promoting transparency and engagement continue to be at the core of how we are implementing the new drug law and the Medicare Drug Price Negotiation Program, and that is why we set out a process for the first round of negotiation that engages the public throughout,” said Meena Seshamani, MD, PhD, CMS Deputy Administrator and Director of the Center for Medicare. “Along with the announcement of the selected drugs, we announced CMS’ plans to host a patient-focused listening session for each selected drug to hear directly from patients and others.”

This announcement is one of a number of steps CMS previously detailed in the Medicare Drug Price Negotiation Program timeline for the first cycle of negotiation. Other key upcoming dates for implementation include:

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