IT’S OVER — The first Medicare drug price negotiations formally came to a close Thursday — but under a strict confidentiality agreement between drugmakers and CMS, the final prices are still under wraps. “Now that the negotiation period has ended, the Biden-Harris administration will announce new maximum fair prices in the coming weeks,” Sara Lonardo, HHS deputy assistant secretary for public affairs for health care, said in a statement. That isn’t stopping the drugmakers from slamming a program they argue harms their industry. “The first round of government price setting is ending as it began: without clear standards for how prices are set and without adequate protections to make sure patients have access to their medicines,” Scott Frotman, spokesperson for industry group Biotechnology Innovation Organization, said. Even after prices become public, Larry Levitt, executive vice president for health policy at KFF, said it would be difficult to ascertain how successful CMS was during negotiations because “the drug pricing system is such a black box.” “Drugmakers are expressing optimism about the effects of this initial round of price negotiations to Wall Street while still saying the sky is falling on Capitol Hill and in court,” Levitt said. On the trail: Vice President Kamala Harris is signaling that she wants to extend an out-of-pocket cap on drug costs to the private market if she is elected in November. Under the Inflation Reduction Act, a $2,000 annual cap will take effect next year for older adults on Medicare. “We will take on Big Pharma to cap prescription drug costs for all Americans,” Harris said earlier this week. “Our plan will lower costs and save many middle-class families thousands of dollars a year.” IT’S FRIDAY. WELCOME BACK TO PRESCRIPTION PULSE. Have thoughts about CMS’ Part D premium stabilization demonstration program? We want to hear from you. Reach out to David Lim (dlim@politico.com or @davidalim) and Lauren Gardner (lgardner@politico.com or @Gardner_LM).
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