Round 3 Medicare Drug Price Negotiations Begin

March 17, 2026

The manufacturers of the 15 drugs selected for the next round of Medicare price negotiations all agreed to come to the table, setting the stage for the next phase to begin.

The drugs included for negotiation for round three of the program are covered under Medicare Part D and Part B. Here’s what you need to know:

• Timing:  After agreement, prices would be effective January 1, 2028.
• Why it matters:  The drugs included in the program are high-cost, single-source products that make up a significant share of Medicare spending.
• Included drugs:   The drugs included for round three are: Anoro Ellipta; Biktarvy; Botox/Botox Cosmetic; Cimzia; Cosentyx; Entyvio; Erleada; Kisqali; Lenvima; Orencia; Rexulti; Trulicity; Verzenio; Xeljanz/Xeljanz XR; and Xolair.
  • The oral diabetes drug Tradjenta is up for renegotiation after being included in a previous round of negotiations.
• By the numbers:  These drugs account for $27 billion in total prescription drug spending under Medicare Part B and Part D, or about 6 percent, officials said last month.
• What’s next:  Manufacturers will now meet with federal officials to begin negotiations.
  • The federal government will offer an initial "maximum fair price" proposal for the drugs June 1.
  • There will be up to two additional negotiation meetings in the summer and fall before the negotiation period ends November 1.

The schedule for public stakeholder meetings about this year’s slate of drugs is available online. Additional information about the round three products also is available.