WBA - Pharmaceutical Giants Brace for Showdown as Medicare Drug Price Negotiations Are Poised For 2024 | Benzinga
2024 will mark a pivotal moment for the healthcare industry, particularly in drug pricing negotiations. The forthcoming year will provide the first glimpse into how much Medicare can leverage its newfound power to negotiate down drug prices.
President Joe Biden's Inflation Reduction Act, passed last year, granted Medicare authority to directly engage in price discussions with drug manufacturers, heralding a substantial shift in the program's longstanding history.
The negotiation process initiated by Medicare, set to begin on February 1, will encompass ten prescription drugs from various pharmaceutical giants, including Merck & Co Inc (NYSE: