Title page
Contents
Summary 2
Medicare Coverage of Prescription Drugs 4
Selected Drug Negotiation Provisions of the IRA 5
Drugs Eligible for Negotiation 5
MFP Ceiling 7
Industry Responses to IRA Negotiation Program 7
Orphan Drug Provisions 8
IRA Timelines for Selection of Chemical and Biologic Products 9
Legal Challenges 10
Drug Patent and Marketing Protections 11
Potential Effects of the IRA on the Pharmaceutical Market 13
Potential Effects of the Program on R&D Incentives 13
Potential Effects of the Program on Drug Prices 15
Author Information 18
Disclaimer 18
Table 1. Part D Selected Drugs for Negotiation for the Initial 2026 Price Year 6
Figure 1. 2023 Medicare Part D Standard Benefit 16
Figure 2. 2025 Medicare Part D Standard Benefit 17