CMS: Drug Negotiations Beat CBO Expectations, With Price Cuts From 38 To 79 Percent

By Gabrielle Wanneh, Maaisha Osman / August 15, 2024 at 7:24 PM
The Biden administration touted its first round of negotiated drug prices as beating expectations by the Congressional Budget Office when it unveiled new prices for 10 Medicare Part D drugs on Thursday (Aug. 15) that ranged from a 38% price cut for AbbVie’s leukemia and lymphoma treatment Imbruvica to a 79% cut for Merck’s diabetes drug Januvia. CBO initially forecasted $100 billion in savings over 10 years from the Inflation Reduction Act’s drug negotiation program, including $3.7 billion in the...


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