IRA Heads To President; CMS Prepares For Historic Drug Price Negotiation

The House Friday (Aug. 12) teed up Democrats’ long-sought drug-pricing reforms for President Joe Biden’s signature, after which CMS will start putting the pieces together to negotiate Medicare drug prices. While the final reconciliation bill scales back Democrats’ initial drug negotiation scheme, it still gives CMS historic power to negotiate prices for some of the most expensive drugs under Medicare. The real work now lies in CMS’ ability to effectively implement the controls, a process the drug industry is expected...