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The Centers for Medicare & Medicaid Services has issued revised guidance for implementation of the new Medicare Drug Price Negotiation Program, perhaps in response to the four lawsuits challenging the program. The first round of negotiations will occur in 2023 and 2024, resulting in prices that will be effective beginning in 2026.

“The Inflation Reduction Act and Medicare drug price negotiation allow CMS to better protect the health of people with Medicare by ensuring they can afford the prescription drugs they need,” CMS Administrator Chiquita Brooks-LaSure said. “Negotiating with manufacturers on drug prices will improve access to lifesaving drugs for millions of people with Medicare while driving market competition and scientific innovation.”

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