6 September 2023 - While government-negotiated prices will not take effect until 2026, the list of specific drugs makes this legislative centerpiece of the Inflation Reduction Act more tangible. Drug price negotiation had been prohibited since Medicare coverage of prescription drugs was first authorized. 

The law that created the benefit, signed by President George W. Bush in 2003, explicitly prohibited the government from directly negotiating prices — a testament to the historical political power of the pharmaceutical industry. Things have changed.

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