Drugmakers Agree to Medicare Price Talks Despite Opposition

All 10 drugmakers agreed to participate in Medicare price negotiations despite suing to stop the process. Companies had to agree by Sunday and submit drug data by Monday.
The talks aim to lower prices for 10 medicines like diabetes and heart drugs. New prices take effect in 2026. More drugs will be negotiated in future years.
Companies argue they had no choice but to join talks or face steep penalties. But analysts expect limited financial impact initially.
CMS will host meetings with companies and patient groups this fall before making initial price offers in February.
Negotiations are estimated to save Medicare $98.5 billion over a decade and reduce costs for enrollees.

cnbc.com

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