Senators Warner and Kaine applaud agreement in Drug Price Negotiation Program

Senators Mark Warner and Tim Kaine applauded the announcement of 10 drug manufacturers who agreed to participate in the Inflation Reduction Act’s Medicare Drug Price Negotiation Program.

The act was passed last year to allow Centers for Medicare and Medicaid Services to negotiate prescription drug prices for the first time in history.

This will help lower costs for millions of Americans.

CMS will now negotiate directly with drug companies and the new prices will begin January 1, 2026.

Then CMS will select 15 new drugs that will be eligible for negotiation in 2027.

The Congressional Budget Office estimated these negotiations will lower Medicare spending by $98.5 billion over 10 years.

To view the full announcement, click here.

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