Vance and Kennedy announce Medicare and Medicaid drug price negotiations

Vice President JD Vance joined HHS Secretary Robert F. Kennedy Jr. at a press conference on April 29, 2026, to announce implementation of Medicare and Medicaid drug price negotiations. The Centers for Medicare and Medicaid Services selected 10 high-cost drugs for the first negotiation cycle under the Inflation Reduction Act's drug pricing provisions—a mechanism the Trump administration continued despite earlier Republican opposition. Pharmaceutical companies have until 2027 to accept negotiated prices or face an excise tax on Medicare drug sales.