This third cycle of negotiation has the first inclusion of Part B drugs and the first renegotiation of a previously negotiated drug. Part B drugs, which are often infused or injected, are typically administered in a doctor’s office or other medical setting.
On January 27, 2026, the Centers for Medicare & Medicaid Services (CMS) announced the selection of 15 drugs payable under Medicare Part B and/or covered under Medicare Part D for the third cycle of the Medicare Drug Price Negotiation Program, effective 1/1/28. CMS also selected one drug for renegotiation for 1/1/28, after its original negotiation in the 2nd cycle.
The selected drug list for the third cycle of negotiations is:
- Trulicity; Type 2 diabetes; Type 2 diabetes and cardiovascular disease or multiple cardiovascular risk factors
- Biktarvy; Human immunodeficiency virus type 1 infection
- Orencia; Psoriatic arthritis; Rheumatoid arthritis
- Cosentyx; Plaque psoriasis; Psoriatic arthritis
- Erleada; Prostate cancer
- Kisqali; Breast cancer
- Entyvio; Crohn’s disease; Ulcerative colitis
- Verzenio; Breast cancer
- Botox; Botox Cosmetic; Chronic migraine; Overactive bladder; Spasticity; Other movement disorders
- Lenvima; Thyroid cancer; Endometrial cancer; Liver cancer; Kidney cancer
- Xolair; Asthma; Chronic spontaneous urticaria
- Rexulti; Major depressive disorder; Schizophrenia; Agitation associated with dementia due to Alzheimer’s disease
- Xeljanz; Xeljanz XR; Psoriatic arthritis; Rheumatoid arthritis; Ulcerative colitis
- Anoro Ellipta; Chronic obstructive pulmonary disease
- Cimzia; Crohn’s disease; Plaque psoriasis; Psoriatic arthritis; Rheumatoid arthritis
The selected drug for renegotiation is:
- Tradjenta; Type 2 diabetes
The Medicare Drug Price Negotiation Program is a keydrug-related provision of the Inflation Reduction Act of 2022 (IRA). This program requires CMS to directly negotiate with drug manufacturers to lower the prices for certain high-expenditure, single-source drugs without generic or biosimilar competition.
Between November 2024 and October 2025, CMS Estimates:
- About 1.8 million people with Medicare Part D or Part B coverage used these 15 selected drugs
- These drugs accounted for approximately $27 billion in total prescription drug spending, representing about 6% of total Medicare Part B and Part D spending
Any negotiated prices, or maximum fair prices (MFPs), resulting from this 3rd cycle must be announced by November 30, 2026. Prices will become effective January 1, 2028.
For more details, download the Fact Sheet from the CMS Newsroom.
CMS has also released a list of 50 top negotiation-eligible drugs based on combined expenditures under Medicare Parts B and D. The drugs selected for the third cycle of negotiation represent the top 15 highest-expenditure drugs on this list.
Prices from Previous Negotiation Cycles
Prices for the 15 Selected Drugs effective in 2027 from the 2nd cycle are available.
Prices for the 10 Selected Drugs already effective in 2026 from the 1st cycle are available.
