CMS Selects 15 Drugs for Negotiation Program

The Centers for Medicare & Medicaid Services (CMS) selected 15 drugs for the third cycle of negotiations under the Medicare Drug Price Negotiation Program.

"[CMS] directly negotiates the prices of certain high expenditure, single source drugs without generic or biosimilar competition. CMS selected 10 and 15 drugs covered under Medicare Part D for the first and second cycle of negotiations, respectively, that now have negotiated prices, which the statute refers to as maximum fair prices (MFPs). These prices are effective beginning January 1, 2026 for the first cycle [10 drugs] and January 1, 2027 for the second cycle, based on negotiations and agreements reached between CMS and participating drug companies," the announcement stated.

On January 27, 2026, CMS announced the selection of the below list of 15 drugs payable under Medicare Part B and/or covered under Medicare Part D for the third cycle of negotiations (initial price applicability year 2028):

• Anoro Ellipta

• Biktarvy

• Botox; Botox Cosmetic

• Cimzia

• Cosentyx

• Entyvio

• Erleada

• Kisqali

• Lenvima

• Orencia

• Rexulti

• Trulicity

• Verzenio

• Xeljanz; Xeljanz XR

• Xolair

Between November 2024 and October 2025, about 1.8 million people with Medicare Part D or Medicare Part B coverage uses these 15 drugs. These drugs represented about 6% of total Part B and Part D spending in 2024 ($27 billion).

For more information, read the CMS announcement.