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Medicare to kick off first drug price negotiations, and it could get heated
The negotiations, which begin Thursday, could meet fierce opposition from drugmakers, experts say. The final negotiated prices will go into effect in 2026.
www.nbcnews.com
The negotiations, as mandated by the Inflation Reduction Act, are slated to run through Aug. 1 before final prices are announced on Sept. 1. It's uncharted territory for Medicare, which has never before been able to directly haggle with drugmakers over prices.
“I expect negotiations to be intense,” said Lawrence Gostin, director of the O’Neill Institute for National and Global Health Law at Georgetown University. “Big Pharma is likely to dig in its heels and use a variety of strategies, including fierce negotiations.”
