Medicare Begins Drug Price Negotiation Period Amid Lawsuits (1)

The Medicare agency Thursday will send an initial offer of the maximum fair price to manufacturers with drugs selected in the first cycle of a government drug price program, a move that comes during ongoing legal challenges against the negotiations.

The Feb. 1 deadline marks the beginning of the negotiation period for drugmakers and the Centers for Medicare and Medicaid Services in the government’s Medicare Drug Price Negotiation Program. The plan is authorized by the 2022 Inflation Reduction Act and allows the government to set prices on some of the costliest drugs Medicare covers.

Companies will ...