3 October 2023 - For the first time, Medicare is able to directly negotiate the prices of prescription drugs due to President Biden’s prescription drug law, the Inflation Reduction Act. 

Today, CMS Administrator Chiquita Brooks-LaSure issued the following statement on the announcement that the drug companies that manufacture all 10 drugs selected for the Medicare Drug Price Negotiation Program for the first cycle have chosen to participate in the Negotiation Program.