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Opinion: I’m the director of the Center for Medicare. Here’s how we executed the first round of drug price negotiation

STAT

The historic Inflation Reduction Act of 2022 has fundamentally improved the affordability of and access to prescription drugs for millions of people with Medicare. The law laid out aggressive timelines for implementing the Medicare Drug Price Negotiation Program.

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STAT+: FTC slams PBMs for boosting specialty drug prices at the expense of the U.S. health care system

STAT

billion in revenue by dispensing medicines to treat cancer, HIV, heart disease and other serious illnesses at prices that exceeded their estimated acquisition costs between 2017 and 2022. The FTC noted in its report that so-called specialty generic drugs represent a large and growing amount of spending by plan sponsors and patients.

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STAT+: Inflation caused a sizable drop in net drug prices in late 2022, analysis finds

STAT

At the same time, net prices health plans paid for medicines — after subtracting rebates, discounts, and fees — dropped by 0.4%. But again, after considering inflation, net prices actually fell 8.5%, compared with 8.2% in the third quarter of 2022. Continue to STAT+ to read the full story…

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Opinion: Most-read First Opinion essays of 2022

STAT

STAT published nearly 500 First Opinion essays in 2022, written by more than 700 authors from the biopharmaceutical industry, health care, academia, government, and private life in the United States and beyond.

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STAT+: Major purchasers predict expensive new therapies will keep driving drug price hikes

STAT

retail drug purchases. Continue to STAT+ to read the full story…

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STAT+: The prices of 8 drugs were hiked without proof of new benefits, costing the U.S. $1.2 billion in 2022, report finds

STAT

During 2022, drugmakers substantially raised prices on eight widely used medicines without any new clinical evidence to justify the increases, leading patients and health insurers in the U.S. to spend an additional $1.2 billion last year, according to a new report.

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Opinion: How states can act to limit drug price increases, saving employers and workers billions

STAT

The Inflation Reduction Act of 2022 mandates that Medicare-covered drug sales will be protected from price increases that exceed inflation, but the mechanics of this “inflation penalty” have generated some confusion.