CMS announces final negotiated prices for the first 10 Medicare drugs under the Inflation Reduction Act

CMS releases the final negotiated Maximum Fair Prices for the first 10 Medicare Part D drugs selected under the IRA negotiation program. The negotiated prices — ranging from 38% to 79% below 2023 list prices — take effect January 1, 2026. The 10 drugs covered 8.3 million Part D enrollees and accounted for $50.5 billion in annual Part D drug costs, roughly 20% of total Part D gross spending. Pharmaceutical manufacturers had challenged the program in court while simultaneously participating in negotiations; no court blocked implementation.