Centers for Medicare and Medicaid Services statement regarding the Medicare Drug Price Negotiation

This is today's statement from the Centers for Medicare and Medicaid Services regarding pharmaceutical companies that have said they plan to participate in the Medicare Drug Price Negotiation Program.

For the first time ever, Medicare has direct negotiating power over prescription drug costs. All ten pharmaceutical companies that were chosen for the Medicare Drug Price Negotiation Program's initial cycle have decided to take part in the program. The chosen prescription will be the subject of talks with participating pharmaceutical companies in 2023 and 2024, with the negotiated pricing taking effect in 2026.

CMS Administrator Chiquita Brooks-LaSure stated, "We look forward to engaging with the drug manufacturers of the selected drugs that have decided to participate in the Medicare Drug Price Negotiation Program." Our aim is to make access possible.