And so it begins.......negotiations over the prices of medicines for the first in Medicare. This will impact not only those medicines, but also others in the same class. These medicines account for $50.5bn in US Medicare expenditure, or ~20% part D costs. The first 10 are: Eliquis Jardiance Xarelto Januvia Farxiga Entresto Enbrel Imbruvica Stelara Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill Whilst new for the US, this mirrors EU practices of a number of years, if not decades.
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The Inflation Reduction Act of 2022 (P.L. 117-169), signed into law August 2022 by President Biden. This new law makes improvements to Medicare - expanding benefits, lowering drug costs, and improving program stability. What we can expect to see from these drug price negotiation programs: - Drug price negotiation will advance health equity, as millions of consumers will be able to purchase their medications at more affordable prices. - Greatest relief expected to affect lower-income Medicare beneficiaries - Benefits of negotiations will grow over the years: (x10) Part D for 2026 & 2027, up to (x15) for Part B and D for 2028, up to (x20) for Part B and D for each year following Topics to bring into discussion: - Can we expect to see a decrease in free drug programs? Copay assistance? - How will this affect margins for Part B drugs administered in-office? #medicare #patientaccess #affordablehealthcare https://lnkd.in/ema4C6YQ
Factsheet: Medicare Drug Price Negotiation Program
cms.gov
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Medicare drug price negotiation is benefitting you. Look at the savings in your home state: https://lnkd.in/g7z3dcHQ
Monthly Medicare Drug Price Negotiation Savings by State
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‼️ Today’s the day! 💊@CMSgov begins the first-ever price negotiations for high-cost drugs in Medicare 👍Thanks to the Inflation Reduction Act – these negotiations will lower soaring Rx prices and help more patients afford their medicines https://lnkd.in/ehjgE-be
Biden-Harris Administration to Make First Offer for Drug Price Negotiation Program, Launches New Resource Hub to Help People Access Lower-Cost Drugs
hhs.gov
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While we are still only in the early stages of the first negotiations between manufacturers and CMS, there is already talk of potentially expanding the number of eligible drugs for negotiation. See our latest thoughts on the Inflation Reduction Act here.
Last week President Joe Biden mentioned in the State of the Union a goal of expanding the number of drugs eligible for negotiation with Medicare from the 10-20 in the current legislation to up to 50 drugs. While such a change would require new legislation in a currently divided Congress, elections in the U.S. will take place this fall. Access our latest thoughts on the Inflation Reduction Act here. skp.link/dbs #BetterMarketAccess #Healthcare #Pharma #SimonKucher
Charting your course through the Inflation Reduction Act storm
simon-kucher.com
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Nationally Recognized Expert in Health Care and Life Sciences, Educator, Regulatory Consultant, Patient Access Advocate, Independent Director, and Retired Sidley Austin Partner
More timely info from Nyah Phengsitthy! CMS Hails Receipt of Counteroffers, Pledges Its “Good Faith” The critical language is here: CMS promises “constructive dialogue and [is] glad the drug companies are coming to the table….These are good-faith, up front negotiations.” The messaging is clearly designed for consumption in the court of public opinion —and as an adjunct to the government’s litigation strategy. All those procedural defenses we see the government asserting in the drug maker lawsuits are designed to buy time for the “negotiations” to proceed. The underlying analysis is that it becomes harder for the courts to intervene once the “savings” have become concrete. Soothing words about “good faith” are intended to help build the case for enough space for the “negotiations” to reach a point where their fulfillment becomes a foregone conclusion. #drugdevelopment #drugpricing #raredisease #patientsfirst #medicare
NEW from the U.S. Department of Health and Human Services (HHS) of this morning. All manufacturers participating in the first cycle of Medicare drug price negotiations have responded with counteroffers:
Biden-Harris Administration Receives Counteroffers from Drug Companies as Part of Ongoing Negotiations to Lower Drug Prices
hhs.gov
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Few domestic political decisions have a substantial impact on the future of our country. The Biden Administration's decision to move forward with Medicare drug pricing negotiations is one of them. This is a decision that the previous administration also supported. Learn more about the U.S.'s negotiation over drug pricing here: https://lnkd.in/ezpBHMP9
U.S. Announces First Drugs Picked for Medicare Price Negotiations
https://www.nytimes.com
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Talked to HHS Secretary Xavier Becerra for my latest story—all 10 drugmakers with drugs selected for the Medicare Drug Price Negotiation Program have agreed to participate. That means the negotiation process can now begin, Becerra told me. The program, which was created under the 2022 Inflation Reduction Act, is intended to lower the cost of some of the most popular and expensive drugs in Medicare. Read more: #medicare #drugprices #HHS #drugpricenegotiation
All 10 drugmakers agree to Medicare drug price negotiations, HHS says
healthcare-brew.com
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https://lnkd.in/gyUCR2xx Stay informed: https://lnkd.in/g8VEd6bW This price negotiation will provide much needed relief to Americans who are struggling to afford their medications. #MedicareNegotiations #BidenAdministration #PharmaceuticalCompanies
Medicare Negotiations on Drugs Save Money and Lives
https://www.usrenewnews.org
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Executive Vice President & Managing Director, Consulting | Market Access, Pricing, and Commercialization Strategist | Biopharmaceuticals, Orphan Drugs, & Vaccines
One of the many objectives of the Inflation Reduction Act is to lower prescription drug costs and increase access to life-saving medications. But defining access continues to be a challenge. In preparation for drug negotiations with Medicare, today Centers for Medicare & Medicaid Services held the first of many listening sessions with patients and patient advocates. The goal being to provide patients with a venue for Medicare to understand patient's daily life dealing with their conditions and their thoughts on the value of therapeutic alternatives. I had the opportunity to listen to today’s opening session with CMS for apixaban/Eliquis, one of the ten drugs selected for negotiation for 2026. Unsurprisingly, one of the key themes from today’s speakers were their issues and concerns over continued access to their medications and the healthcare system in general. Concerns over formulary management becoming more demanding, confusion on financial assistance, issues with preferred pharmacy networks, worries over access in rural communities, and issues with basic enrollment in health plans. I commend the CMS for this first of many sessions to better define the situation at hand. However, we must recognize that these listening sessions are only continuing to bring to light the challenges that patients have accessing healthcare. #marketaccess #patientaccess #inflationreductionact #medicare #formulary
CMS to kick off Medicare drug price negotiation listening sessions next week
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Following CMS's announcement of the first 10 drugs targeted for #Medicare price negotiations, #AvalereExpert Kelsey Lang spoke with MedPage Today about what is behind discrepancies between experts' list predictions and the published list: https://lnkd.in/ejbRZnHT Read more about Kelsey and other #IRA implementation experts' take on the announcement here: https://lnkd.in/ePp3TqeN #drugpricing #InflationReductionAct
U.S. Unveils First 10 Drugs for Medicare Price Negotiations
medpagetoday.com
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