Medicare will pay billions of dollars less in 2027 for 15 drugs, including major medicines for cancer, asthma and metabolic conditions, after completing the second annual round of price negotiations required under the Inflation Reduction Act.

The Centers for Medicare and Medicaid Services on Tuesday announced the final prices , which, if they had been in place in 2024, would have reduced aggregate spending by 44%, or $12 billion. Beneficiaries’ out-of-pocket spending would have been reduced $685 million, the CMS said.

The announcement concludes three rounds of negotiations between the agency and drugmakers, who made offers and counteroffers with a review of evidence supporting their respective proposals. CMS said the prices of seven were reached based on a revised counteroffer from the

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