The file below contains the list of National Drug Codes (NDC) associated with the selected drug list, which represents the NDCs for which any negotiated maximum fair price would apply consistent with CMS guidance.
For any selected drugs for which CMS and participating drug companies have agreed upon negotiated prices under the Medicare Drug Price Negotiation Program, which the statute refers to as maximum fair prices (MFPs) the file also contains the single negotiated price for a 30-day equivalent supply of each selected drug, NDC-9 per unit price, and NDC-11 per package price, as well as other important information regarding updates to the NDCs and MFPs.
The file is updated annually each year subsequent to the first initial price applicability year of the price applicability period for each selected drug, at a minimum, to show the inflation-adjusted negotiated price for the selected drug. Additional updates are made on a recurring basis to account for the application of the negotiated price to new NDC-11s of selected drugs or when an NDC-11 should no longer have the negotiated price applied. Lastly, additional updates are made to account for when a drug is no longer selected. CMS will publish the file in both .xlsx and .csv file formats.
Selected Drug List for Initial Price Applicability Year 2028
CMS announced on March 13, 2026 that the drug companies that manufacture all 15 drugs payable under Medicare Part B and/or covered under Medicare Part D selected for the third cycle of negotiation have chosen to participate in the Negotiation Program. In addition, the drug company that manufacturers the one drug selected for renegotiation for the third cycle of negotiations continues to participate in the Negotiation Program. The negotiations with participating drug companies will occur in 2026, and any negotiated prices will become effective beginning in 2028. The fact sheet above contains additional information.
Selected Drug List for Initial Price Applicability Year 2027
Fact Sheet on Negotiated Prices for IPAY 2027 (PDF)
Infographic on Negotiated Prices for IPAY 2027 (PDF)
The infographic provides information on each step of the drug selection process for initial price applicability year 2027 using a hypothetical biological product (Drug Hypothetical).
The below links contain the MFP explanations for the 15 drugs covered under Medicare Part D that were selected for the second cycle of negotiations; the MFPs will go into effect on January 1, 2027.
- MFP Explanations
The MFP explanations provide information about CMS’ perspective on the data that had the greatest impact on CMS’ determination of offers and consideration of counteroffers consistent with the factors outlined in the law. Each MFP explanation includes details that are unique to the negotiation for that particular drug, along with information about the data received, the exchange of offers and counteroffers, and the negotiation meetings. Consistent with the confidentiality policy in CMS’ final guidance (PDF), the MFP explanations include redactions to protect proprietary information. If you require assistance obtaining or wish to report an issue related to the accessibility of any content included in the MFP explanation files, please email IRARebateandNegotiation@cms.hhs.gov.
File for the MFP Explanation for Austedo; Austedo XR (ZIP)
File for the MFP Explanation for Breo Ellipta (ZIP)
File for the MFP Explanation for Calquence (ZIP)
File for the MFP Explanation for Ibrance (ZIP)
File for the MFP Explanation for Janumet; Janumet XR (ZIP)
File for the MFP Explanation for Linzess (ZIP)
File for the MFP Explanation for Ofev (ZIP)
File for the MFP Explanation for Otezla; Otezla XR (ZIP)
File for the MFP Explanation for Ozempic; Rybelsus; Wegovy (ZIP)
File for the MFP Explanation for Pomalyst (ZIP)
File for the MFP Explanation for Tradjenta (ZIP)
File for the MFP Explanation for Trelegy Ellipta (ZIP)
File for the MFP Explanation for Vraylar (ZIP)
Selected Drug List for Initial Price Applicability Year 2026
Fact Sheet: Negotiated Prices for Initial Price Applicability Year 2026 (PDF)
Fact Sheet: Medicare Drug Price Negotiation Program: Selected Drugs for Initial Price Applicability Year 2026 (PDF) (August 2023)
Fact Sheet: Manufacturer Agreements for Selected Drugs for Initial Price Applicability Year 2026 (PDF) (October 3, 2023)
The below links contain the MFP explanations for the 10 drugs covered under Medicare Part D that were selected for the first cycle of negotiations; the MFPs will go into effect on January 1, 2026.
- MFP Explanations
The MFP explanations provide information about CMS’ perspective on the data that had the greatest impact on CMS’ determination of offers and consideration of counteroffers consistent with the factors outlined in the IRA. Each MFP explanation includes details that are unique to the negotiation for that particular drug, along with information about the data received, the exchange of offers and counteroffers, and the negotiation meetings. Consistent with the confidentiality policy in CMS’ revised guidance (PDF), the MFP explanations include redactions to protect proprietary information. If you require assistance obtaining or wish to report an issue related to the accessibility of any content included in the MFP explanation files, please email IRARebateandNegotiation@cms.hhs.gov.
Medicare Drug Price Negotiation Agreement
Drug manufacturers and other interested parties may review the Medicare Drug Price Negotiation Program Agreement (PDF) and the Instructions for this Agreement (PDF). The Agreement is executed in the CMS Health Plan Management System (HPMS).