CMS Releases Revised Guidance for Medicare Drug Price Negotiation Program

On June 30th, the Centers for Medicare and Medicaid Services (CMS) released revised guidance detailing the requirements and parameters of the new Medicare Drug Price Negotiation Program for the first round of negotiations, which will occur in 2023 and 2024. The agency received over 7,500 comments on the initial guidance which was released in March 2023. According to CMS, the agency is releasing the revised guidance with changes from the initial guidance to improve transparency and foster an effective negotiation process....