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Inflation Reduction Act & Drug Price Negotiation Program Update

The Inflation Reduction Act (IRA) of 2022 established a Drug Price Negotiation (DPN) Program for Medicare. The program requires the U.S. Department of Health and Human Services (HHS) to negotiate prices with drug manufacturers for some single-source medications covered under Medicare Part B and Part D. HHS is scheduled to release, on September 1, 2023, the first list of selected, qualifying medications, and to begin negotiations on October 1, 2023. In June 2023, Merck & Co. filed the first lawsuit against HHS challenging the constitutionality of the DPN program. The Ohio Chamber of Commerce, Bristol Myers Squibb, and Pharmaceutical Research and Manufacturers of America have also filed lawsuits challenging the constitutionality of the DPN program. The impact the DPN program will have in the commercial space is still unknown as prices on the selected single-source medications could remained unchanged or even possibly increase as drug manufacturers look to offset losses in revenue. For more information, visit: https://www.cms.gov/inflation-reduction-act-and-medicare/medicare-drug-price-negotiation and https://jamanetwork.com/journals/jama-health-forum/fullarticle/2787467

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