Anne Schneider’s article, “Inflation Reduction Act empowers negotiations for Medicare cost reduction,” was recently published in the Los Angeles and San Francisco Daily Journal. The article explains how the 2022 law signed by President Biden will allow for Medicare to negotiate the price of certain drugs for its beneficiaries, caps out-of-pocket spending for Medicare Part D enrollees, requires drug companies to pay rebates if prices rise faster than inflation for drugs used by beneficiaries, and limits the monthly cost-sharing for insulin to $35 for beneficiaries. Anne also highlights some of the lawsuits raised in response to these provisions in the act by pharmaceutical companies like Johnson & Johnson, Bristol Myers Squibb, MSD, and the Pharmaceutical Research Manufacturers of America (“PhRMA”).
Read the full article here (subscription required).
