Society Applauds CMS Announcement of Prescription Drugs Selected for Medicare Negotiation
August 29, 2023
Today the Centers for Medicare and Medicaid Services (CMS) announced the first 10 prescription drugs
that have been selected for which it will negotiate lower prices for Medicare beneficiaries. This provision was included in the Inflation Reduction Act, which was signed into law in August 2022.
“Today is an important milestone to help those who are struggling to afford medications they need to live their best lives,” said Bari Talente, the Society’s Executive Vice President of Advocacy and Healthcare Access. “For the first time, CMS will be able to negotiate directly with prescription drug manufacturers to make prescription drugs more affordable for millions of Medicare beneficiaries while providing significant savings to the Medicare program. The 10 drugs that have been selected by CMS are used by millions of Americans every day and have been on the market for a long time, without competition from generics or biosimilars. While no MS disease-modifying therapies are currently on the list of drugs to be negotiated, we know that people with MS utilize these selected drugs to manage co-morbidities of MS.”
“The Society looks forward to working with the Administration and the Centers for Medicare and Medicaid Services to implement all provisions of the Inflation Reduction Act, including a $2,000 out-of-pocket cap for patients’ Medicare Part D drug costs and penalties for drug-makers who hike prices above the rate of inflation, to make the cost of prescription drugs more affordable and manageable for the people that need them.”