Comments on the Inflation Reduction Act’s drug price negotiation program

Prescription drug prices
Editor's note:

This comment letter is part of the USC-Brookings Schaeffer Initiative for Health Policy, which is a partnership between Economic Studies at Brookings and the University of Southern California Schaeffer Center for Health Policy & Economics. The Initiative aims to inform the national health care debate with rigorous, evidence-based analysis leading to practical recommendations using the collaborative strengths of USC and Brookings. This comment was submitted to the Centers for Medicare & Medicaid Services on April 12, 2023.

The Inflation Reduction Act (IRA) includes a number of provisions to reduce drug spending by the federal government and lower prescription drug costs for Medicare beneficiaries.

Gerard F. Anderson and Richard G. Frank recently provided comments to the Centers for Medicare & Medicaid Services (CMS) on guidance regarding the implementation of the section of the law that establishes the Medicare Drug Price Negotiation Program. The authors address several sections of the IRA negotiation guidance, including the identification of selected drugs, requirements for manufacturers of selected drugs, and negotiation factors.

Read the full comment letter here.

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