Drugmakers opt in to Medicare drug price negotiations – here's what happens next
Publishing timestamp: 2023-10-03 09:06:55
Summary
The article discusses how all drugmakers of the first 10 medicines selected for Medicare drug price negotiations have agreed to participate in price talks. This comes after many of them sued to halt the process last month. The negotiations aim to make costly medications more affordable for older Americans. The negotiation process will continue until August 2024, with reduced prices going into effect in January 2026. The article also provides a list of the 10 drugs and the companies that manufacture them.
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Keywords: biotech and pharmaceuticals, pharmaceuticals, merck & co inc, astrazeneca plc, business news, health care industry, johnson & johnson, drug use, joe biden, biotechnology, novartis ag, bristol-myers squibb co, business, breaking news, novo nordisk a/s, amgen inc, abbvie inc,
Source: https://www.cnbc.com/2023/10/02/drugmakers-agree-to-medicare-price-negotiations-whats-next.html