Drug prices & Part D
Face-to-Face Drug Price Talks Between Medicare and Manufacturers Close Today on 15 High-Cost Drugs
September 11 is the statutory deadline for in-person and virtual negotiation meetings in Medicare's third drug price negotiation cycle. Written offers are next, with a final CMS offer due September 30 and manufacturer responses due by November 1.
By the Goodsurance editorial teamSeptember 11, 2026
Today is the last day CMS can hold in-person or virtual meetings with drug manufacturers in the third cycle of the Medicare Drug Price Negotiation Program. After today, the parties may only communicate through written offers and responses.
The third cycle covers 15 drugs, including the first medications payable under Medicare Part B ever selected for the program. Negotiations occur throughout 2026, and any agreed prices would take effect January 1, 2028.
Today is the last day Medicare and drug companies can meet face-to-face on prices for 15 high-cost drugs. Written offers follow, with a CMS deadline of September 30.
Under the timeline CMS set in its final guidance for the third cycle, CMS sent each manufacturer an initial offer no later than June 1, 2026. If a manufacturer submitted a counteroffer, CMS could invite up to two additional face-to-face or virtual meetings. That window closes today.
CMS must now issue a final written offer on each drug no later than September 30, 2026. Manufacturers then have until November 1 to accept or decline. A manufacturer that declines faces an escalating excise tax on affected drugs or must withdraw those products from Medicare and Medicaid.
All 15 drug companies whose products were selected for the third cycle chose to participate in the program, according to CMS. If agreements are reached, CMS is expected to publish the negotiated maximum fair prices after the November 1 deadline. Those prices would reduce out-of-pocket costs for beneficiaries starting in 2028.
In plain words
Medicare has a program to lower the price of certain expensive drugs. Today is the last day Medicare can meet in person or by video with drug companies to talk about those prices. They are working on prices for 15 drugs. After today, they can only send each other written messages. Medicare must send its final price offer by September 30. Drug companies then have until November 1 to say yes or no. If they say yes, the new lower prices start on January 1, 2028. Lower prices could mean lower costs for people with Medicare who take those drugs.
Understand the basics first
Source: CMS
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