The Centers for Medicare & Medicaid Services (CMS) announced the first 10 drugs covered under Medicare Part D selected for the Medicare Drug Price Negotiation Program.
The Inflation Reduction Act of 2022 gave Medicare the ability to negotiate prices directly with drug companies in an effort to lower costs for prescription drugs. The negotiations with participating drug companies will occur in 2023 and 2024, and any negotiated prices will become effective beginning in 2026.
The selected drug list for the first round of negotiation is:
- Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill
A CMS fact sheet on the drugs selected for the Medicare Drug Price Negotiation Program is available.