Updated
Updated · CBS New York · Aug 23
CMS Says Drug Prices Fell 3.1% as Medicare GLP-1 Costs Drop to $50
Updated
Updated · CBS New York · Aug 23

CMS Says Drug Prices Fell 3.1% as Medicare GLP-1 Costs Drop to $50

1 articles · Updated · CBS New York · Aug 23

Summary

  • A 3.1% year-over-year drop in July drug prices marked the fastest decline in 63 years, CMS Administrator Mehmet Oz said, while eligible Medicare beneficiaries can now get GLP-1 drugs for $50 a month instead of more than $1,000.
  • Oz attributed the decline to the administration’s “most favored nation” pricing push and agreements with 17 drugmakers representing 85% of the sector, saying companies must match prices charged overseas.
  • Medicare access is still partial rather than universal: Oz said beneficiaries have full access to some drugs, including GLP-1s, while other categories are being rolled out selectively and future launches from major companies will use the new pricing.
  • CMS also said it is using other levers to curb healthcare costs, including Medicare drug-price negotiations, anti-fraud efforts that Oz said blocked $42 billion last year, and health-tech initiatives aimed at reducing system spending.

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