On August 15, 2024, the Centers for Medicare & Medicaid Services (CMS) announced the new “negotiated” prices for the first ten Medicare Part D drugs subject to price controls under the Inflation Reduction Act (IRA), which range from a 38% cut to a 79% cut from the 2023 list price—or wholesale acquisition cost (WAC)—for each drug. Two drugs on the CMS list, Enbrel and Stelara, are also being targeted by Colorado’s Prescription Drug Affordability Board (PDAB).
CBSA continues to work directly with policymakers and collaborate with our state and national advocacy partners. We also use our voice and communications platforms to emphasize our concerns about the unintended consequences of the flawed policies and implementation of government price controls on prescription drugs.
How CMS is Framing the Results
CMS is framing the results of its negotiations as saving an estimated $6 billion, or approximately 22%, across…
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