CMS selects 15 high-cost drugs—including first Part B drugs—for Medicare price negotiations effective in 2028
CMS announced a new list of 15 high-cost drugs chosen for the third cycle of Medicare price negotiations, including the program’s first-ever Part B selections. Negotiations will occur in 2026, with negotiated prices scheduled to take effect January 1, 2028.
A new round of Medicare drug negotiations
The Centers for Medicare & Medicaid Services (CMS) announced on January 27, 2026, that it has selected 15 high-cost prescription drugs for the third cycle of the Medicare Drug Price Negotiation Program. The agency said negotiations will take place during 2026, and any negotiated prices will become effective on January 1, 2028.
CMS described the 2026 cycle as a milestone because it includes, for the first time, drugs payable under Medicare Part B in addition to drugs covered under Part D, widening the program’s reach beyond the retail pharmacy benefit.
Who uses the selected drugs
CMS said that between November 2024 and October 2025, roughly 1.8 million people with Medicare Part D or Part B coverage used the 15 selected drugs. The medicines span multiple conditions, including cancer, autoimmune disease, HIV treatment and other high-cost therapies.
By focusing on the most expensive therapies in Medicare spending, the program aims to reduce net costs for the system while lowering out-of-pocket burdens for beneficiaries when the new prices take effect.
What happens next (and key deadlines)
Drugmakers with selected products have until February 28, 2026, to decide whether they will participate in the negotiations, CMS said. During negotiations, the agency stated it will consider factors including clinical benefit, evidence on alternatives, unmet medical need, and impacts on specific populations, along with information related to development and production costs.
CMS also announced that one previously negotiated drug was selected for the program’s first renegotiations, signaling that the process will not be limited to one-time price setting.
Why this matters for 2026–2028
While the negotiated prices from this cycle won’t take effect until 2028, the selection announcement sets in motion the year-long negotiation timeline that can influence future pricing expectations for employers, insurers and patients.
The inclusion of Part B drugs is likely to draw additional scrutiny from patient groups, manufacturers and clinicians, since Part B covers many physician-administered medicines and biologics that are central to specialty care.