4 August 2025 - The CMS can now negotiate the prices of a set of drugs that represent significant Medicare expenditures. The long-term success of negotiations will depend in part on stakeholders’ views on the program’s transparency and inclusivity. 

CMS has completed its first round of price negotiations for ten drugs; the prices will become effective on 1 January 2026. For future rounds, we advocate that CMS adopt a different price negotiation approach, one that embodies the best practices of health technology assessment—the discipline that determines a fair drug price in many settings worldwide.

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