Cousin, Emma M., Sullivan, Sean D., Hansen, Ryan N., Gabriel, Nico, Kirihennedige, Ayuri S. and Hernandez, Inmaculada (2024) Drugs anticipated to be selected for the Medicare Drug Price Negotiation Program in 2025. Journal of Managed Care & Specialty Pharmacy, 30 (11). 1203 - 1210. ISSN 2376-0540
Full text not available from this repository.Abstract
BACKGROUND: The Centers for Medicare and Medicaid Services (CMS) recently announced the Maximum Fair Price for the first 10 Medicare Part D drugs selected for price negotiation. By February 2025, CMS should announce the list of Part D drugs to be negotiated with implementation of the negotiated prices in 2027. OBJECTIVE: To identify up to 15 Medicare Part D single-source drugs anticipated to be selected by CMS for price negotiation in 2025. METHODS: We followed selection criteria identified in the Inflation Reduction Act and CMS guidance to identify drugs. We projected 2023 Part D gross spending using 2020-2022 data reported by CMS and linear prediction models. We ranked products according to the projected spending figure and identified those not eligible for selection because of (1) number of years since approval, (2) availability of a biosimilar or generic version, (3) approval for a single orphan indication, (4) whole human blood or plasma-derived, or (5) eligibility for the small biotech exception. RESULTS: We identified 13 products likely subject to Medicare drug price negotiation, including 4 anticancer therapies, 3 noninsulin antidiabetic products, 2 inhalers, 1 antifibrotic therapy, 1 gastrointestinal agent, 1 enzyme replacement therapy, and 1 product indicated for dyskinesia. These 13 products each had projected annual gross Part D spending more than $1 billion. We identified 7 additional products with uncertainty to complete the list of 15, including an insulin, an antiviral, an antibiotic, an immunologic agent, an antidiabetic, and 2 cancer drugs. These products had projected gross Part D spending between $877 million and $1.399 billion. Twenty-two products with comparable levels of spending were deemed ineligible for selection because of availability of a generic or biosimilar version (10 products), insufficient years since approval (8 products), eligibility for the small biotech exception (3 products), and expected market discontinuation (1 product). CONCLUSIONS: Our identification of products anticipated to be selected for negotiation in 2025 (with implementation of negotiated prices in 2027) will help inform manufacturers, payers, patients, and policymakers of the products that will likely see a decrease in Medicare drug prices as result of negotiation. We identified 22 products with levels of spending that are comparable with those anticipated to be selected for negotiation but are not eligible, primarily because of generic or biosimilar availability or insufficient time on market.
| Item Type: | Article |
|---|---|
| Additional Information: | © 2024 Academy of Managed Care Pharmacy |
| Divisions: | Health Policy |
| Subjects: | R Medicine > RA Public aspects of medicine |
| Date Deposited: | 27 Nov 2024 11:24 |
| Last Modified: | 12 Dec 2024 04:35 |
| URI: | http://eprints.lse.ac.uk/id/eprint/126191 |
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