CMS Releases Draft Guidance for the Third Cycle of Medicare Drug Price Negotiation Program to Lower Drug Prices for American Patients

The Centers for Medicare & Medicaid Services (CMS) is issuing draft guidance for public comment on the third cycle of negotiations under the Medicare Drug Price Negotiation Program (Negotiation Program). The draft guidance includes policies that will improve the transparency of the Negotiation Program, prioritize the selection of prescription drugs with high costs to the Medicare program, and minimize any negative impacts of the negotiated maximum fair price (MFP) on pharmaceutical innovation within the United States.