As part of the Inflation Reduction Act, price negotiations with manufacturers will begin this year, with reduced prices expected to take effect in 2027.

“Improving prescription drug affordability for Medicare enrollees is the core of the Inflation Reduction Act, and the next cycle of negotiations will continue to strengthen Medicare for generations to come," Chiquita Brooks-LaSure, administrator of the Centers for Medicare & Medicaid Services, said in the news release.

The U.S. Department of Health and Human Services (HHS), through the Centers for Medicare & Medicaid Services (CMS), has selected 15 additional drugs for pr

Drugs used to treat cancer, diabetes and other chronic conditions are among 15 picked for negotiations that could result in lower prices for patients, the Department of Health and Human Services confirmed Friday.

The talks around drugs including Novo Nordisk’s Wegovy, GSK’s Trelegy Ellipta, and Pfizer’s Xtandi will set Medicare prices that go into effect in 2027.