Today, the US Centers for Medicare & Medicaid Services (CMS) has for the first time selected 10 drugs for negotiation under the Inflation Reduction Act (IRA). Seniors paid $3.4 billion in out-of-pocket costs for these drugs in 2022, the CMS stated.
Fact Sheet: https://www.cms.gov/files/document/fact-sheet-medicare-selected-drug-negotiation-list-ipay-2026.pdf
A statement from President Joe Biden noted that Big Pharma has long fought this progress. Their profits grew as they spent more on stock buybacks and dividends than they spent on research and development, even as nearly three in 10 Americans struggle to afford their medications because of cost.
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