Federal health officials have unveiled a new proposed regulation designed to create a lasting structure for Medicare prescription drug price negotiations that would take effect in 2029.
The U.S. Centers for Medicare and Medicaid Services announced the framework on June 12, with officials stating the goal is to reduce medication costs for millions of Americans while giving pharmaceutical companies more predictability in the negotiation process.
According to the proposal, the new regulation would establish guidelines for both initial negotiations and future renegotiations of prices for expensive medications that come from single sources.
