Initial insights from Inflation Reduction Act IPAY 2027 negotiation outcomes

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Initial Price Applicability Year (IPAY) 2027 results have been released. We compare these negotiated prices with the results from IPAY 2026. 

The Centers for Medicaid and Medicare Services (CMS) recently released the outcomes from the latest round of negotiations as part of the Inflation Reduction Act (IRA). This round of negotiations was particularly interesting for a number of reasons.

To begin with, it was the first round of negotiations under a new administration in the U.S. government. Second, the Trump administration has made international price referencing a key theme in discussions around pharmaceutical prices in the U.S. And finally, for the first time, we can observe the outcomes for negotiated drugs which could have therapeutic alternatives from a prior round of negotiations.

As expected, CMS was quick to point to superior outcomes from this round of negotiations compared to those under the Biden…