Experts talk IRA impacts as CMS announces it will publish first 10 drugs up for negotiation in September
Experts went back and forth on the impacts of the Inflation Reduction Act, or IRA, on the biopharma industry in a virtual panel hosted by Endpoints News at JP Morgan Wednesday.
The major drug pricing reform passed last year and allowed Medicare drug price negotiations for the first time ever. It also capped senior drug expenses at $2,000 a year and insulin costs at $35 a month.
Wednesday morning, the Centers for Medicare & Medicaid Services (CMS) announced its timeline for negotiations. In a media call, CMS administrator Chiquita Brooks-LaSure said, “Our actions this year will culminate in the announcement of a list of 10 part D, high-spend brand name drugs to participate in the negotiation program.”
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