The Centers for Medicare & Medicaid Services (CMS) have chosen the first 10 prescription drugs for price negotiations under the Inflation Reduction Act. These drugs include various medications like apixaban, empagliflozin, rivaroxaban, sitagliptin, dapagliflozin, and others. This initiative is a result of the Inflation Reduction Act signed by President Biden in August 2022, aiming to lower drug costs for Medicare beneficiaries.

On March 15, 2023, CMS launched the Medicare Drug Price Negotiation Program, enabling Medicare to directly negotiate prices for high-cost single source drugs without generic or biosimilar competition. This program allows Medicare to negotiate with drug companies to reduce the financial burden of drug spending by the federal government.

The selection of these 10 drugs for negotiation is a significant step toward lowering drug costs. Medicare enrollees who use these drugs under Part D have collectively paid a substantial amount out of pocket in the past year. These negotiations are part of ongoing efforts to make prescription drugs more affordable for Americans.

CMS plans to select more drugs for negotiation in the coming years, aiming to include up to 15 drugs in 2027 and 15 more in 2028, expanding to 20 more drugs each year afterward. This initiative is part of a broader strategy to improve access to lower-cost medications for Medicare beneficiaries.