WASHINGTON, D.C. — The following statement was issued by Merith Basey, executive director of Patients For Affordable Drugs Now, following the announcement by the Centers for Medicare and Medicaid Services (CMS) that all of the drug companies making the 10 drugs selected for the first round of negotiations have agreed to enter negotiations with Medicare:
“On behalf of patients across the country, we are very pleased to see all of the drug companies manufacturing the ten selected drugs have agreed to enter negotiations with Medicare. This marks an important milestone in our movement – for the first time ever, Medicare will now officially be in the process of negotiating lower prices for essential and costly medications taken by millions of people in this country including cancer treatments, blood thinners, autoimmune disease treatments, and some diabetes drugs.
“People in the United States overwhelmingly support this law, and we look forward to continuing to work with the Centers for Medicare and Medicaid Services (CMS) and the Department of Health and Human Services (HHS) to ensure the Inflation Reduction Act is implemented in the best interest of patients, despite opposition from drug companies.
“These first 10 drugs are just the beginning – we will continue pushing on all fronts to lower drug prices for everyone.”
- The period of negotiation between the Medicare and drug companies will occur between October 1, 2023 and August 1, 2024. The negotiated “maximum fair prices” will be published no later than September 1, 2024.
- Starting October 30, Centers for Medicare & Medicaid Services (CMS) will host a series of patient-focused Listening Sessions for all 10 drugs.
- The prices of the following ten drugs are being negotiated by Medicare: