Drugmakers ‘coming to the table’ in IRA price negotiations

All manufacturers participating in the first cycle of the US Medicare drug price negotiations have responded with counter offers, according to the US Department of Health and Human Services’ (HHS) Centers for Medicare and Medicaid Services (CMS).

This comes after the HHS sent initial offers on February 1, as the agency was empowered to do by President Joe Biden’s Inflation Reduction Act (IRA). This law is a cornerstone of the Biden administration’s efforts to lower prescription drug costs.

"The Biden-Harris Administration is working to lower costs for families and keep money in the pockets of millions of Americans instead of big pharma"HHS Secretary Xavier Becerra said: “We are committed to constructive dialogue and are glad the drug companies are coming to the table. These are good-faith, up front negotiations.