Eli Lilly, Pfizer, AbbVie drugs targeted in third Medicare price talks

Investing.com -- The U.S. Centers for Medicare & Medicaid Services (CMS) on Tuesday announced a new list of branded medications for the third round of the Medicare Drug Price Negotiation Program.

The latest selection includes drugs from major pharmaceutical companies such as Eli Lilly, Pfizer, and AbbVie.

This third cycle marks the first time that products covered under Medicare Part B have been included in the negotiation program. Medicare Part B typically covers medications administered in outpatient settings or doctor's offices.

The Medicare Drug Price Negotiation Program was established to help reduce prescription drug costs for Medicare beneficiaries through direct price negotiations between the federal government and pharmaceutical manufacturers.

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