The Centers for Medicare and Medicaid Services is likely to feel significant political pressure to prove the new Medicare price negotiation program produces big savings and so will seek deep discounts, especially with the first list of negotiated prices due to be released shortly before the 2024 Presidential elections.
President Biden’s 2024 federal budget proposal, with its plan to expand the price negotiation program to drugs even earlier in their lifecycle, is a clear signal that he continues to believe drug pricing is a winning political issue and will want to highlight his Administration’s work in that area
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