CMS has included an additional 34 drugs on the list on products subject to rebates if their price increases are higher than inflation.
The Centers for Medicare & Medicaid Services (CMS) has released a list of 34 prescription drugs that will be subject to inflation rebates in Medicare Part B. The Inflation Reduction Act (IRA) requires rebates on prescription drugs and biologics whose prices rise higher than inflation. This is the third group of products that CMS has indicated will be affected by these rebates. (See list below.)
CMS officials said some people with Medicare may save between $1 and $618 per average dose beginning Oct. 1, 2023, depending on their individual coverage, CMS officials said in a press release.
Before the IRA, Medicare had no authority to limit price increases, although the Medicaid system has a rebate program for drug prices that rise faster than inflation. According to an analysis by KFF, half of all drugs covered by Medicare had list price increases above inflation between 2019 and 2020. The CBO has estimated that rebates will lead to a net savings of $56.3 billion and high federal revenue.
Included in the third set of products for Medicare inflation rebates are:
FDA Issues Complete Response Letter for Pz-Cel to Treat Epidermolysis Bullosa
April 22nd 2024Prademagene zamikeracel is a cell therapy designed to incorporate the functional collagen-producing COL7A1 gene into a patient’s own skin cells. The FDA is asking for additional information on manufacturing practices.
Read More
FDA Approves Stelara Biosimilar, Selarsdi
April 18th 2024Alvotech’s Selarsdi (ustekinumab-aekn), a biosimilar referencing Stelara (ustekinumab), gained FDA approval, making it the second ustekinumab biosimilar and second for the company to be given the green light for the American market.
Read More