Chiquita Brooks-LaSure, CMS administrator (Chip Somodevilla/Getty Images)

Phar­ma com­pa­nies to re­main mum on CM­S' ini­tial of­fers next week for the first year of IRA ne­go­ti­a­tions

One of the biggest (if not the sin­gle biggest) gripe that the phar­ma in­dus­try has with the In­fla­tion Re­duc­tion Act is that it con­sid­ers the price ne­go­ti­a­tion process, which kicks off with an ini­tial of­fer from CMS to the bio­phar­ma com­pa­nies on Feb. 1, to be noth­ing more than price set­ting.

The price-set­ting mantra has stuck ever since it be­came clear that the com­pa­nies can­not af­ford to say no to what­ev­er price the process ends on, as such a move would trig­ger steep fines, or even a loss of ac­cess to Medicare for all of their prod­ucts.

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